Salary Negotiation
One of the greatest questions behind money is: Why is it so hard to talk about it? If money is the core foundation of our social and commercial interactions, it’s even more puzzling why we feel so powerless about it in particular situations. When it comes to salary negotiation, this feeling of awkwardness intensifies as we struggle to express our financial needs and avoid feeling guilty about them.
It is great to be grateful for the trust that your “soon-to-be” or current company has put on you, but it is a completely different story to feel that they are doing you a favour when considering or hiring you for a role. The business is bringing you on board because you are a unique talent that they urgently need. If you feel that your tasks and effort are not being paid accordingly, it is important to do something about it. Remember that negotiation can also include bonuses, benefits, holidays, amongst others.
Here are some tips to prepare for salary negotiation:
1. Know your worth: By this, we are focusing only on financial matters. To know how much your skills and talent are worth in today’s market is crucial to set your expectations. Tools such as Payscale.com or SEEK Salary and Pay Calculator can help you determine how much people in your role are being paid in your particular city and country. Having this data available will allow you to negotiate with objective facts rather than subjective opinions.
2. Think about a salary range: Now that you know the average pay for your position, it is time to work on a range that will make your proposal a lot more achievable. This will also showcase your flexibility and willingness to negotiate.
3. Determine how flexible you want to be: In a negotiation, you don’t have to accept the first offer straightway. Understanding how much are you willing to let go and which aspects are non-negotiable will give you confidence and ensure that the outcome aligns with your wishes and expectations.
4. Practice: In front of the mirror or with a friend, make sure you feel comfortable expressing your ideas as clearly and organised as possible. There is no better persuasion than your confident, informed, and concrete message.
5. Find the right time: Probably it’s best to schedule a meeting with your supervisor. You don’t want to bring up the topic at a time when one of both parties is distracted, unavailable, or just not in the right mental space.
6. Keep it professional: This is not about explaining your personal needs. You don’t need to bring up any plans or situations that are not linked to your work. This is about displaying your worth in a professional context and letting your employer know that you know the worth of your skills.
The outcome of the negotiation is variable. Maybe it will lead to a straightforward and positive change or you may get a “no” for an answer. If so, consider your permanence in that particular job. There’s nothing worse than working for a company that doesn’t make you feel valued or heard.
Keeping an eye on the market is a habit that we should encourage in both employers and employees to ensure a fair, dignified, and thriving workplace. In the end, the market is ever-changing and with every work experience we gain knowledge and expand our skill set, so it’s only fair to ensure that our salary is reflecting these changes and adapting accordingly to them.
