Maybe you just landed a new job? Maybe you received a promotion? Or may you’ve decided to ask for a raise? In all three cases, you’ll need to know how to negotiate your salary. Use these tips to get the best deal.
Tips for Negotiating Your Salary
Know Your Worth
Before you begin the negotiating process, do your research. Find out the current pay for someone in this role with your experience in your geographic region. Use sites like the U.S. Bureau of Labor Statistics, PayScale and Glassdoor to figure out the going rate.
Have Your Number Ready
Once you know your worth, set your number. Most experts recommend starting at the upper end of the salary range. However, be careful. If you lack experience or live in an area with a low cost of living, throwing out a top figure could backfire. Play it smart by deciding on a reasonable figure. Then, add on a little bit more, so you have room to negotiate.
Consider the Other Point of View
Certainly, you want to make as much money as possible. However, if the company pays everyone on their staff top dollar, they could go out of business. Considering the organization’s point of view (as well as your own) allows you find a solution that works for both of you.
Focus on Performance Not Personal Finances
Although you may be hoping for $55,000 so you can buy that new car, this doesn’t benefit the company. Rather than focusing on your needs, focus on what you will bring to the company. Specifically, show how your skills and experiences will be worth more than the amount for which you are asking.
Most people don’t negotiate on a regular basis, so the process seems awkward. Therefore, practice before you go into the meeting. Write down what you want to say, rehearse in front of a mirror or role play with a friend. The more you prepare, the more comfortable you’ll feel.
Counter Don’t Threaten
When things aren’t going well, avoid threats like, “If you don’t offer at least $60,000, I’ll walk.” Ultimatums only back businesses into a corner. You probably won’t get what you want, and even if you do it’s a bad way to start a relationship. Instead keep the conversation moving with more respectful statements such as, “I understand why you think this number is high, but I truly feel my skills and experiences are worth $60,000.”
Look Beyond Salary
Even if an organization won’t give you the salary you want, you may be able to negotiate for benefits and/or additional perks. Ask about items like health insurance, retirement plans, flexible scheduling, paid vacation, tuition reimbursement and/or employer discounts. Ultimately, many employees feel their benefits are worth just as much (if not more than) their paycheck.
Are You Hoping to Negotiate Your Salary at a New Job?
If you’re looking for a higher-paying manufacturing position, the professional recruiters at Connectology can help. We place managers, supervisors and engineers with top companies throughout the upper Midwest. Browse our available openings and start planning your salary negotiations today!