Salary Negotiation Tips to Know Your Worth and Align Your Energy to It

When I worked in Human Resources, it really bothered me how many people weren’t prepared to negotiate their salaries and waited until it’s too late to figure out their target numbers. Did you know the salary negotiation can start as soon as the first phone interview? It’s so important to be prepared, know what the position can pay, and embody your number from the get go.

Now that I’m a freelance writer, I can let you in on how to get the money you DESERVE!

“It’s estimated that people who negotiate earn $1 million more during their career for no other reason than negotiating.”*

PEOPLE WHO NEGOTIATE, MAKE MORE MONEY. PERIOD.

So why doesn’t everyone negotiate?

Here are some reasons I’ve found that people are hesitant:

1)      It’s uncomfortable.
2)      Many people think the offered salary is what the job pays.
3)      They worry they won’t get the job if they appear greedy or ask for too much.
4)      They have a hard time feeling they are worth more and/or selling their skills.
5)      They don’t understand what the market rate is for their position.

It’s more than just setting a value when you negotiate. It’s the energy of your asking and the feeling of being worth that amount. If you ask for $100,000 per year but feel deep down you are truly worth $80,000, which number are you more likely to manifest?

Worse, if you ask for $20,000 below market because you didn’t know how much it would pay, you are more likely to get something close to your asking price – and the company may feel you are happy and they are getting a bargain.

But here’s the good news, if you feel confident and determined about your number – most likely you will negotiate less and the company may even hit your number right out of the gate. Isn’t that great? Being comfortable negotiating may mean you do less negotiating!

Here are the three steps to take prior to any salary negotiation to choose a target number and then align your energy behind it — ONE – TWO – THREE for a higher paid you!

1. Do Your Homework!

In order to hit your target number, you have to know what it is!

BEFORE THE FIRST PHONE INTERVIEW:

I can’t stress this enough. Have a target number in mind before your first conversation with a company. If you ask for $40,000 per year in your phone interview, then do your homework and suddenly want $60,000 when the offer is presented, it can feel like a blindside to the Company because they brought you in to interview thinking you were in their price range, or possibly altered the position to be in that price range. The salary negotiation can start as early as this first phone call!

MARKET RESEARCH:

Here are some tips to determine the market for your position and your skill set. And please, don’t underestimate your skills. What can you do that no one else can? What do you bring to the table??? You are your best salesperson during the hiring process. DO YOUR HOMEWORK – Do not skip this step!

There are many free resources to determine what a position can pay and where you fall in the spectrum. I recommend doing all four of these:

SALARY.COM.

There are free resources like salary.com where you can match your skills to jobs in your area to figure out what they pay. There are percentiles of pay but if you choose the 50th percentile it should give you a start. You may not want to work at a company that pays in the 10th percentile anyway since that means they pay on the low end.

JOB BOARDS.

Look at every job posting you can find from indeed.com, monster.com, careerbuilder.com, LinkedIn, and Craigslist to find the postings that include a pay range. Those pay ranges should start to paint a picture along with salary.com.

RECRUITERS.

Talk to at least three recruiters. Recruiters are paid by the company when they place a person in the company and therefore free to you. Often times they will review your resume and provide a salary range in an attempt to place you. Some will give you the range the company wants to pay, which is very helpful. Bonus, one of those recruiters may find a job for you before you do!

DREAM BIG!

When you know the range, set your sights on the top! Don’t settle. Changing jobs is the easiest way to increase your pay and considering most companies are paying 3% annual increases, you will want to come in high knowing you may only go up 3% each year after or until a promotion opportunity comes up.

2. Embody Your Target Number

You have to believe you are worth the amount you ask for!

Once you have an idea of the range the position can potentially pay, figure out where you are in the spectrum. If it pays x for 10 years experience and you have 5, does that mean you should make less or can you really sell why you can do that job with 5 years experience in an interview?

You need to know YOU!

Make a list. Why can you do that job really well? Have that list on hand every time to you talk to the company. That way you keep your energy up and have a reminder of why you will be great at their job.

Companies put in a range when hiring, 1-5 years experience, or 5-10. It’s a big range. Then they have a range they will pay for the salary and usually a budget for the position. It’s not unreasonable to get the high end and even then maybe one or two thousand higher if they think you will really be the best fit. Companies love a hard worker who is going to do a great job and are really looking for top talent.

So you know what the position CAN pay, you know what you would like to make, you’ve really looked at your skills and what you can offer – What’s next?

Believe it or not, the next step is to make sure ALL of you believes in your target number.

If part of you feels like you are asking too much or are uncomfortable, it will come across. So what can you do?

3. Get SUPER Comfortable with Negotiating

It’s time to ask for what you are worth!

Now you are ready! You know your target number and have done your research. Your energy is aligned. You have it in your head that people can earn 1 million more in their lifetime just by asking. So it’s time to ask.

For the actual negotiation BE RESPECTFUL. Not arrogant.

Always reiterate how much you like the company and why you will do a great job. Be specific with metrics, such as, “At my last company I increased customer satisfaction by x,” “I reduced turnover by x %,” “brought in x in sales,” “received the highest rating for _____,” “improved processes,” “resolved issues outstanding for years in just two months.” Be your own cheerleader!

If you truly don’t reach your number, consider the overall package the company offers (consider this anyway!). Are their benefits more comprehensive/affordable? Will they give you and extra week vacation? Is there room to grow? If there is no room to grow and the pay isn’t want you want, will you be happy there or do you know in your heart you will want to move on within a year?

If you need help figuring out your pay, consider getting a mentor. Enlisting a coach can mean the difference of a million dollars over your lifetime. I can’t tell you how many people I interview who ask for a lesser salary than is budgeted for the position or who do not know their salary expectations. Spending even a half hour with a coach may be just the support you need to get you to that next level!

Whatever you do, don’t leave money on the table, just because you didn’t want to ask for it or you didn’t know what someone with your experience can earn.

Believe me, after your first negotiation, it feels easier and easier.

You can do it!

XOXO,

*https://www.monster.com/career-advice/article/negotiate-your-salary-offer-1009