How To Negotiate a Higher Salary Like a Badass
Here’s a scenario: You have cracked an interview and now have a job that you always wanted. Is the tough part over? Ummm, not really!
The next step is often the tricky one: Negotiating a higher salary!
How do you know that you are being offered what you deserve? Being grateful that you got a job offer is fine, but does it mean that you will accept whatever is proposed.
This step of salary negotiation isn’t restricted to a new job alone. You also need to negotiate your salary during a promotion or at regular increments.
According to several new studies, millennials are making this exact mistake of not negotiating, which in turn, is costing them a lot of money.
The trend gets worse when it comes to women employees.
According to research, women are more reticent when negotiating compared to men. This study, for example, shows how among a group of graduating MBA students half of the men negotiated their job offers for a higher salary while only one-eighth of the women did so.
The social cost of negotiating is way higher for women than men. What this means is that when a woman takes up an opportunity to negotiate a higher salary, her employers are less willing to work with her.
Keeping all of this in mind, we have come up with some tips on how to negotiate a higher salary for yourself. Why agree for something less when you know you are worth so much more?!
Tips to Negotiate Your Salary Better
1. Know your WHY
When you are asking for more and you think you deserve it, show your employee why.
There are a number of salary websites on the net, such as Glassdoor.com and Salary.com. These can be used as tools to find out what others at similar positons are charging for their work.
GirlBoss suggests that when you research, you should make sure you are also looking at similar positions in the same city. You might be living in an expensive city and so your salary has to be determined keeping that in mind.
2. Role play
Before you decide to talk to your supervisor about a higher salary, try to understand the situation from their point-of-view. Yes, it is a lot like playing chess!
By placing yourself in your manager’s shoes, you will know what their concerns could be. This, in turn, will help you prepare better for the negotiation.
3. Set a specific time and place for this
You cannot bring up a higher salary negotiation matter-of-factly. You need to tell your supervisor in advance.
Send them a mail regarding the same, and set up a meeting with them to discuss it in person.
4. It’s not just what you say
Yes, it is not just what you say, but how you say it.
So when at the meeting where you will be proposing why you deserve a higher salary, pay attention to every cue you are sending, both verbal and non-verbal.
You need to look assertive, and so, injecting several “you-knows” in your sentences, or ending your sentences with questions, can come across as unconfident.
Body language that screams nervousness are avoiding eye contact, slouching, shifting your feet, dry mouth, playing with your hair, etc.
5. Have a specific number in mind
Many people make this mistake of walking into a salary negotiation without having a number in mind. Don’t be like them!
Researchers at Columbia University suggest that going in with an exact number increases your chances of getting the raise. When you start with a specific number, the final offer is highly likely to be closer to what you were asking for.
The logic behind this is that when you come up with an exact figure, employees assume you have done your research, which in turn, works in your favour.
6. Money isn’t the only thing
Apart from the salary, you also need to negotiate non-monetary perks such as your leaves, the flexible hours, mentoring programs, gym membership, childcare facilities, etc.
7. The rallying point
Like we said before when negotiating a salary that you think you deserve, you need to help the supervisor understand why you deserve that.
What does this why consist of?
If you are a team lead, then show how your team has performed. You need to back your expected salary number with more numbers, such as the revenue your team has generated for the company.
If you are a team member, then focus on your performance. By now you should know which of your qualities your supervisor appreciates most in you. Throw light on these qualities.
8. The loyalty card
Get paid royally for your loyalty! (yes, that should be printed on a tee!)
After you have given your supervisor your reasons (make sure you don’t overdo them), you need to bring their attention to how much you love to work for the company and you look forward to many more years as a part of the team. This really works!