What’s the best way to negotiate salary? These salary negotiation tactics will help you negotiate a fair compensation package. Here are salary negotiation tactics including how to evaluate a job offer, negotiating salary and benefits, and how to make a counter offer if you want to get a higher salary when you receive a job offer from an employer.
1. Show your experience and know-how:
Put your past experiences on the table and let the employer see exactly why you’re fit for the position. Hands-on experience is a very efficient salary-negotiating tool.
2. Put numbers where your mouth is:
Flashing your past job titles isn’t enough; you must also demonstrate exact figures of what you’ve accomplished. Show your employers that you’ve increased department sales by 20% and doubled your productivity in 6 months.
3. Don’t ask about salary:
Let employers make a first offer, as it is primordial to push off any actual salary talk until after you’ve secured the position. At that point, it’ll be much easier to negotiate since you’ll know that the company wants you on board.
4. Show excitement about the position:
Motivation is the key to good productivity. Be sincere about this emotion and put on your happy face, in order to show the employer that the only thing stopping you from taking the job is the compensation.
5. Visualize yourself already having the job:
As a personal tip, perceptual visualization is a great way to follow through and get something done. This is the same technique professionals use to sink the 8 ball in the corner pocket. See it happen and it will.
6. Don’t bring your personal life into the negotiation:
Salary is only based on the company’s budget and your capability of getting the tasks done. So bringing in the fact that your dog needs an operation or you want to get yourself the latest Hugo Boss watch will not get you far.
7. Do your research about the position:
When you walk into the room, you should know — from A to Z — what the position entails, the skills required, the industry average salary, and the market demand. Use all these hidden assets to your advantage and be prepared for any curve ball the employer might throw at you.
8. Know your worth:
Match how much you’re asking to what you’re worth. If need be, tell them what you were being compensated at your old job and how much your skills are worth on the market. Prove to them that you know what price tag fits your skills, and use it as a bargaining tool.
9. Know your minimum expected salary:
Employers expect to negotiate salaries with new employees, but figure out beforehand how low you will go. And if you see you’re not able to match your minimum salary range, don’t be shy to ask about employee packages, or even turn down the offer.
10. Be prepared with alternative solutions to cash:
Stock options, signing bonuses, expense accounts, profit sharing, and performance raises are only some of the perks that can make up for actual cash compensation.
11. Don’t be afraid to walk away:
Taking your stuff, turning down the offer, and leaving might just be the best negotiation tactic. Show them you’re not scared to walk away from the table; this will prove that you’re very capable of going somewhere else and getting what you deserve. Act like you don’t need it, and they might just give it to you.
12. Sell yourself:
The employer shops around for the perfect employee, the same way you do when you’re out buying fruit; you look for the best possible option at the lowest cost. Paint him a picture of your skills and all the reasons why he should hire you.
13. Be comfortable with the employer:
Don’t turn the negotiations into a “do or die” situation. Avoid conflict. Be loose and friendly in your exchanges and let things flow. You’ll be surprised at how receptive your employer might be to this approach.
14. Be calm and in control:
The last thing your future boss wants to see is you throwing a fit because you didn’t get what you want. Prove to him that you’re capable of remaining grounded and reasonable, even when things don’t go your way.
15. Don’t necessarily turn down the first offer:
Who knows? The first offer made might be exactly what you’re looking for. But if it isn’t, remain quiet and indecisive, and the employer might just make a higher offer to break the silence.
16. Be flexible about the hours:
Although your boss may not be ready to offer you a full-time position, always consider a part-time position, working from home, or any other flextime alternative.
17. Forecast other benefits:
If you don’t get the salary you were expecting, don’t despair because the company may just have a salary cap and must therefore remain within the budget. Ask about potential advancement within the company and eventual raises.
18. Prove you’re the best man for the job:
Ultimately, employers want to see future employees defend their case and follow through with their ideas. Do the same when it comes to getting the position.
19. Have a backup plan:
If you see that negotiations are not going your way, whip out additional reference letters, take a salary cut during the early stages, or propose working from home to exempt the employer from having to set up your office and hence extra costs. Whatever you do, improvise and be ready to adapt.
20. Anticipate objections:
The same way you prepare for a Q&A session at the end of a presentation, cover all your angles; be ready and steady for any unusual inquiry from your future employer. Know exactly what to respond if he says, “you’re not qualified enough” or “you’re asking for too much.”