If you're currently undergoing the interview process or you simply want to get paid more in your current position, the first thing you need to do is figure out how to negotiate a salary—or, more precisely, how to effectively negotiate a salary. Just like with an important meeting or presentation, preparation is key. Researching the topic at hand is especially important when it's a complicated matter like finances but also a personal one like supporting yourself.
We know this sounds like it spells double trouble, but don't worry—we already did the bulk of the research for you. Consider it a little negotiating prequel to your upcoming salary negotiation. Now make sure your meeting is a success by reading through our four informative tips below (your bank account will thank you).
Payscale notes that it's important to be enthusiastic about the specific job opportunity while negotiating a salary to demonstrate your passion. In other words, you want to show you aren't just in it for the money. And while it's important to be enthusiastic, make sure you know the distinction between being pushy and expressing interest. Sherry Campbell of Entrepreneur points out that bullying your "way into a deal" can "make a customer feel defensive, which blocks effective negotiation." Instead, promote a comfortable environment by remaining calm, warm, and open.
Being prompt sends the message that you are well organized, eager to work, and reliable. So while you should definitely take the time to do the right research before going into the negotiation meeting, don't delay the process too much. This could give the hiring manager the impression that you're not very interested in the position to begin with. According to Psychology Today, being tardy is linked to being less motivated, which probably won't help your case for getting a raise or being hired for the role.
Know Your Worth
Since it's your livelihood at stake, don't let the hiring manager control the conversation. Likewise, it's important to know when you're being manipulated into a lower payroll. That being said, don't overestimate your value if you aren't as qualified or experienced as others. So how should you find out your monetary value as an employee? Talk to recruiters, or research on Glassdoor and Payscale. Once you have a few numbers to work with, pick the top of the range, but don't go outside of it. And if you don't receive your first ask, Wharton professor and Give and Take author Adam Grant suggests not making your counter offer too low, either. It's all about balance.
Practice Your Spiel
Once you know what to pitch the hiring manager or your boss, go over it aloud a few times before. However, don't recite your speech to the point of memorization, because you don't want it to sound unnatural. You should also consider looking in the mirror to pay attention to body language. This way you'll catch mannerisms or nervous ticks that make you appear aggressive or friendly. Plus, this study on expertise and performance reminds us why we should avoid going into autopilot. In this mode, we aren't able to anticipate nor respond well to change. Try to stay flexible and run through a few scenarios in case the hiring manager has some unexpected responses during your meeting.
Do you feel like you know how to negotiate a salary now? Please share any tips or feedback in the comments below!