The 3 Steps to Negotiating a Higher Salary

When I ask people if they’ve ever negotiated for their own compensation, most of them say, “No, I haven’t *nervous laughter* I probably should, though.”

Negotiating is an act that intimidates a lot of jobseekers, but it’s one that can really change your life for the better. 

Still, lots of people either are hesitant to engage in the conversation out of fear, or they choose not to because they simply don’t know how to. Learning the basics of negotiation can help fast-track you to the places you want to be in life. Let’s take a look at some of the basic rules of the game:

RULE #1: NEVER SHOW YOUR CARDS FIRST

So you submitted your killer resume, crushed the interview (or interviews), and you just received a job offer from the employer. Then they ask you, “About how much are you hoping to make in salary?”

Rule #1 of negotiating is never show your cards first! This is a question you want to avoid answering until they tell you what they’re looking to pay a successful candidate.

Why? Because you giving up that information first gives the employer an opportunity to pay you less, and what you lose out on in your initial negotiations is very hard to recover.

If the number or range you give them is lower than what they had in mind, they can just give you that lower number, or at least the low end of their range.

If they give you their number first, though, it gives you an opportunity to not undersell yourself, and aim for the higher end of the range.

Don’t lose your leverage! Make them show you their cards first.

RULE #2: DON’T UNDERSELL YOURSELF, BUT BE REASONABLE

The goal of any successful negotiation is to create a win-win scenario. Underselling yourself is clearly a loss for you, so don’t! Always ask for what you deserve so you can achieve your win scenario. At the same time, you also have to understand what would be a win for your employer, and leave space for them to achieve their win scenario.

How do you do that? You gotta do your research.

• How much does someone in this type of role across companies usually make?
• What was the last person in this role at this company making?
• What’s the market value of your skills/experience, relative to the field?
• What’s the value you’ll bring to the role and company?

These are questions you should have answers to before you have this conversation.

RULE # 3: GET IT IN WRITING

Whatever it is you and your employer agree on, get it in writing in an official document before you start working. By “official document” I mean a job offer sheet or a contract–don’t settle for an email.

Once you start working, you lose the leverage you had at the point of receiving the job offer. Having the terms of your agreement signed off on gives you assurance that you’ll receive what was promised to you in exchange for what you promised.

Protect yourself from shady business. Get your agreement in writing, ya’ll!

Next Issue on March 2nd: How to Write a Good Cover Letter

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