Negotiating a higher salary when applying for a new job can be daunting, but it’s an important part of the job application process that ensures your compensation package reflects your true worth in the market.
Below are eight top tips to help you negotiate a better salary:
Research market rates: When it comes to negotiating your salary, knowledge is power. It’s important to have a good understanding of the market rate for the position you are applying for, accounting for both industry and location. Research helps you know what to expect and what you can realistically ask for.
Know your worth: A salary should reflect your skills, experience, education, the industry, and scope of the role, among other factors. A prospective employer typically won’t expect you to tick every box so don’t undervalue yourself, but also be realistic about what you can expect given your qualifications and the market rate.
Practice: Role-playing with a friend or family member can help you feel more prepared and confident when negotiating salary. Use this as an opportunity to test different approaches to different negotiation styles, ask questions and practice your delivery.
Make a case for your worth: Approach the negotiation with concrete examples, facts and figures related to your past accomplishments and the value you have brought to previous employers. This helps demonstrate your worth and assists the employer to assess value.
Don’t be afraid to negotiate: It’s okay to ask for what you want, and many employers expect it. Don’t be afraid to negotiate and advocate for yourself. Remember, you are providing value to the company and deserve fair compensation. Afterall, for most employers, salary isn’t personal, it’s business – and salary should represent a fair exchange for both parties.
Be flexible: Salary isn’t always the most important thing to everyone. Consider whether you’re open to negotiating other aspects of the job offer, such as vacation time, benefits, or reduced hours, if the employer is unable to meet your salary request.
Don’t accept the first offer: Even if you’re happy with the initial salary offer, don’t let that stop you from negotiating. The worst an employer can say is no, and you may be surprised by how much they are willing to increase their initial offer.
Don’t reveal your current salary: If asked about your current salary, it is okay to deflect or state that it is not relevant to the position you are applying for. Your current salary does not necessarily reflect your worth or the value you can bring to a new company.
By following these tips, you can increase your chances of negotiating a better salary when applying for a new job. Remember, it’s business not personal, so be confident and prepared, and don’t be afraid to advocate for yourself.