Negotiating one’s salary could be intimidating for anyone. Whether you are just now entering the professional world as a new graduate or have already stepped into your career path and deserve a raise, many factors go into deciding a salary, experience, skills, potential, and many other important criteria.
No matter the conditions or where you currently stand, you should be able to earn what you are worth. Here are a couple of ways to help you understand this process and get what you deserve:
Do Your Research
Conduct pre-interview research about the company you will be working for as well as their estimated salary for your specific position. This will help you attain realistic expectations for the interview.
If possible, use your networking skills to connect with previous employees via LinkedIn, Facebook groups, etc. to have a better estimation and learn from their first-hand experience.
Calculate Your Minimum Wage
When negotiating your salary, take into consideration all the factors that went into prepping you for this job. Things like previous work experience, work hours (full or part-time), or how much effort you plan to put into your career are important. Think about the quality of life you want to maintain. Pick a realistic number and bargain your way from there. This should be your base salary and you should not settle for less.
Set Your Minimum Salary
After you pick a reasonable number based on your commitment, put your minimum acceptable salary. Whatever they offer shouldn’t be a penny less. If it was lower or close to your minimum, negotiate your way up a notch.
To make an informed decision, calculate your regular spendings and consider the lifestyle you practice. Keeping in mind what would your experience and field allow you to earn is crucial.
Taking all these factors into consideration will keep you in an informed and safe zone.
Get Them to Make the First Offer
Learning what your employer’s initial offer is can save you longways. Let them make the first offer first, to know what they’d be willing to pay for your services.
By doing so, you are avoiding underestimating yourself in front of them in case they are willing to pay higher than what you were expecting.
Have Mercy on Them!
Think of a salary that you would give to yourself if you were in their shoes, taking into consideration what services you are bringing into the workplace.
Beware of the general economic well-being, especially how the COVID-19 pandemic has thrown off many businesses, and ask for a logical number.
Aim With a Range
To do that, think of a logical, worthy range, then negotiate the highest number of that range. If they offer less than this number, you’ll remain in that safe range and ensure that the final number will be fair to you.
Be careful of asking for a stupidly high number because that might push them away to find someone other than you.
Pay Attention to Your Tone
It’s very important not to come off as money-hungry, that is why you should always pay attention to your tone while you speak about these issues. Even if you made it to the company, you don’t want to be perceived as greedy or acquisitive.
With these steps, I hope that you now feel more comfortable negotiating your salary and demanding to be paid what you are worth. Good luck with taking over your financial autonomy!