How to Gain the Upper Hand in Salary Negotiations
There are ways to negotiate salary and ways NOT to negotiate salary. If you want the upper hand and keep your salary moving in an upward trajectory, follow these tips from PrideStaff Financial.
There’s no need to argue.
The last thing you want to do is become adversarial when negotiating a salary increase or starting salary. Explore the situation with care and nuance. After all, both you and your boss want the same thing—a salary that meets your needs without compromising overall budget, and an employee who’s happy and productive as a result.
Don’t over research.
One of the biggest pitfalls when trying anything new is studying how to instead of doing. This leads to procrastination, hesitation or overexplaining what you found in your “studies” to the person you are negotiating with. Practice makes perfect. Start doing and watch your salary grow.
The hidden salary increase.
Not all salary raises mean only a higher paycheck. Become an expert in what your company can afford, what the average salary is for your job and where else increases can come from. For example, if you are willing to relocate, consider relocation costs. Will the company pay housing or utilities? Can you write off relocation on tax returns? These hidden salary increases can add up to a big win in your negotiation strategies.
Know exactly what you want.
Before heading into any negotiation, you must do some homework. You need to determine exactly what you want in a salary and why. If you are asking for more than a five percent raise, or a large starting salary for a new job, you better make sure you can back up why. Your boss needs to understand your skill set and dedication are worth the hike in pay. Show your manager your value, because they aren’t the only ones who need to bring something to the table.
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