Key Steps to Winning at Salary Negotiation

Even though getting a job offer can be great news, everyone dreads going to the negotiation table. After all, it is not quite as enjoyable as the Thanksgiving table.

Asking for more money isn’t easy, especially in today’s economy, but don’t sell yourself short. If you identify a position that you think is appropriate, but the salary is unacceptable, that doesn’t mean you need to walk away. 

When you find yourself in the final stages of the interview process, are pleased with the job opportunity and like the company, consider the following tactics to help you negotiate a better deal:

Discuss the significance of the role and how your past performance is indicative of future results.

  1. Reiterate your credentials while generating the hiring manager’s support: “We both agree that I possess the skills and competencies to deliver results for the department.” 
  2. Ask to review the role again with a breakdown of what the expectations are and how you will generate a strong ROI. The key here is to ask to review the position and examine more closely how you will add value.

A simple request to reevaluate the job duties and the correlation to the starting salary will help you encourage the hiring manager to take another look at the compensation. This technique also allows you to share your continued interest and enthusiasm for the company and the position. 

Maybe you have encountered a situation where the hiring manager tried to use your current compensation as the basis for negotiating your new salary. This is a common tactic – but don’t let that stop you! The offer should be predicated on the following things: 

  • Your ability to add value to the organization and bring a level of expertise to the role;
  • The KSAs (Knowledge, Skills and Abilities) that make you a viable choice;
  • Examples of how you made an impact in previous positions.              

Showcase your knowledge and expertise during the discussion to add value.              

He who speaks salary first, loses.
Likely you have heard this principle countless times. Naturally, you want the company to provide you with information about a salary range or budget for the salary before you share your earnings. The reality is that hiring managers generally ask what your salary was at your last role – again, using this information as the basis for an offer with his company. 

You will need to introduce criteria that highlight your total compensation including base, bonus, benefits, 401K, and any options or profit sharing. In addition, consider providing your prospective employer with the following information:

  • ·        You are looking for a new opportunity owing in part to the fact that contributions to your previous employer far outweighed the salary they were paying you;
  • ·        You are due for an increase of some percent and are also expecting a larger bonus;
  • ·        From your industry research you are aware that positions of the nature that you are interviewing for are commanding a salary of (and then provide a number). 

In any negotiation, you should take time to consider the offer. Do not say “YES” immediately. You do not want to appear desperate; make sure that the position and salary as a package represent an opportunity that will satisfy you.  Just because you are extended an offer does not mean it is the right offer for you. Weigh your options and make a decision that meets with your personal and professional goals.

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Key Steps to Winning at Salary Negotiation

Even though getting a job offer can be great news, everyone dreads going to the negotiation table. After all, it is not quite as enjoyable as the Thanksgiving table.

Asking for more money isn’t easy, especially in today’s economy, but don’t sell yourself short. If you identify a position that you think is appropriate, but the salary is unacceptable, that doesn’t mean you need to walk away. 

When you find yourself in the final stages of the interview process, are pleased with the job opportunity and like the company, consider the following tactics to help you negotiate a better deal:

Discuss the significance of the role and how your past performance is indicative of future results.

  1. Reiterate your credentials while generating the hiring manager’s support: “We both agree that I possess the skills and competencies to deliver results for the department.” 
  2. Ask to review the role again with a breakdown of what the expectations are and how you will generate a strong ROI. The key here is to ask to review the position and examine more closely how you will add value.

A simple request to reevaluate the job duties and the correlation to the starting salary will help you encourage the hiring manager to take another look at the compensation. This technique also allows you to share your continued interest and enthusiasm for the company and the position. 

Maybe you have encountered a situation where the hiring manager tried to use your current compensation as the basis for negotiating your new salary. This is a common tactic – but don’t let that stop you! The offer should be predicated on the following things: 

  • Your ability to add value to the organization and bring a level of expertise to the role;
  • The KSAs (Knowledge, Skills and Abilities) that make you a viable choice;
  • Examples of how you made an impact in previous positions.              

Showcase your knowledge and expertise during the discussion to add value.              

He who speaks salary first, loses.
Likely you have heard this principle countless times. Naturally, you want the company to provide you with information about a salary range or budget for the salary before you share your earnings. The reality is that hiring managers generally ask what your salary was at your last role – again, using this information as the basis for an offer with his company. 

You will need to introduce criteria that highlight your total compensation including base, bonus, benefits, 401K, and any options or profit sharing. In addition, consider providing your prospective employer with the following information:

  • ·        You are looking for a new opportunity owing in part to the fact that contributions to your previous employer far outweighed the salary they were paying you;
  • ·        You are due for an increase of some percent and are also expecting a larger bonus;
  • ·        From your industry research you are aware that positions of the nature that you are interviewing for are commanding a salary of (and then provide a number). 

In any negotiation, you should take time to consider the offer. Do not say “YES” immediately. You do not want to appear desperate; make sure that the position and salary as a package represent an opportunity that will satisfy you.  Just because you are extended an offer does not mean it is the right offer for you. Weigh your options and make a decision that meets with your personal and professional goals.

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