18 Mar Don’t Do These Things When Negotiating Your Salary
There will come a time in your career where it will be necessary to negotiate your salary. Whether it is after receiving a job offer or because your current compensation doesn’t accurately reflect your work, this conversation may need to happen. However, before you run into your manager’s office to request a bump in your pay, you want to remember to handle this situation professionally. Here are several things you should never do when negotiating your salary.
Don’t Have the Discussion With Your Manager Unprepared
When negotiating your salary, you must be prepared. You must be able to accurately explain why you deserve an increase in pay and be able to show how much you should receive. To do this, do your homework. Gather examples of projects you have completed and done well. Present statistics showing how well you compare to other employees’ performance. If possible, gather information on how much competitors are paying their employees in similar positions. This is a great starting place to help you determine just how much money you should be receiving.
Don’t Provide a Rounded Number
In 2013, a study was conducted to determine how individuals respond to negotiations. The study found that having an exact number is key to helping you receive the number you desire. This means that it is important that you don’t choose an easy, rounded number. Rather, you want to choose a very specific number. For example, rather than ask for a salary of $80,000, ask for $79,700.
Don’t Be Demanding
When negotiating your salary, how you approach the topic and behave during the negotiation process is crucial. While you want to be professional and confident, you don’t want to appear demanding and rude. You must be careful that asking for money doesn’t affect your good standing with the company and your managers. You need to be friendly and kind, yet still firm.
Don’t Settle
If the company cannot provide your salary request, don’t be afraid to ask why. Find out what is holding them back from offering the money to you. If it is a financial issue with the company, it may be best to start the job hunt. If it is an issue with your own work experience and job performance, discuss ways that you can improve and strive to implement them. This will show that you are truly trying and in the next few months, you can have this conversation again. If the company simply doesn’t want to pay you as much as you request, don’t be afraid to negotiate other perks such as tuition reimbursement, transportation stipends, gym membership fees, etc.
While it is important that you receive the proper pay for the work you are completing, you must be realistic. If you are currently being paid what the average individual in your field should be receiving, that’s great. Don’t be surprised when the negotiation process doesn’t work in your favor. However, if not, don’t be afraid to ask. Receiving the proper salary is not only going to keep you motivated in your career, but it is important to your work-life balance, stress levels, and more.