HOW TO NEGOTIATE YOUR SALARY

how to negotiate your salary

Boy, oh boy have I been excited about this blog post…!

Just a little over a year ago, I negotiated my salary for the very first time; I was just 21 years old and had absolutely NO CLUE how to do it!

Will I still get the job if I try to negotiate a higher salary? Will my boss be upset?? What am I worth as an employee with my current skills and experience???

I never learned how to negotiate as an undergrad in my dietetics or entrepreneurship classes. We hear about unequal pay and gender discrimination in the news, but haven’t learned how to be an advocate for ourselves in the workplace.

I had so many questions about negotiating and was so lucky to have a mentor who helped me recognize my worth as an employee and feel confident standing up for myself in a negotiation. I brought her on the blog today so she could share her tips for negotiating and answer some negotiation FAQs.

Why is it important for women to be their own advocate?

In a work environment there will always be multiple agendas at play. In an ideal world your manager will be your greatest advocate based on your hard work and contributions to the business, but that is in an “ideal world.”

Keep in mind that managers have agendas of their own, which may include keeping good talent on their team, or on the flipside may include promoting good talent to their next best role where that person can add the greatest value to the organization.

How do you know when it is appropriate to negotiate?

As a rule of thumb, assume it is ALWAYS appropriate to negotiate. Afterall, you are your own best advocate. A few things to keep in mind:

Always negotiate salary when accepting a job. If the company has made you an offer, they clearly see value in you. They’ll never pull the offer just because you asked for more money. They may come back and increase their offer or tell you that they cannot. Another possible outcome is that they offer you some benefit that is not salary but is of value. Examples of this could be shares of stock or additional vacation time. If the company says they cannot do anything you are not out anything, and you’ve set the precedent of advocating for yourself.

In the event the company cannot do anything related to negotiating the offer and you still want to pursue the conversation, ask if you can revisit this with a formal review after 6 months in the role. At that time have documented proof of the value you’ve delivered in your new role. Metrics are always meaningful, so keep notes on your contributions and accomplishments.

Most large companies only make salary adjustments once a year, but in going through a 6-month review with your manager that was agreed to at the time you accepted the job you have a higher probability of success in securing some sort of raise (money, stock, etc.). In the event a mid-year compensation review is not possible still ask for the meeting when you accept the job, as you’ll be proactively advocating for yourself and positioning for the raise you can get when salary adjustments are available. Also, some companies have out of cycle stock options become available for top performers and you want to be of consideration when those are distributed.

How to pick a number? Better to start high? Should I use a specific number or a range?

Many companies will ask what salary you’re looking for and this is a very tricky question. You don’t want to sell yourself short and start low. Like a GPA, making meaningful movement after you settle is a slow process, so you want to start as high as is feasible.

Do as much homework as you can on the role and company. Try to understand what a fair salary/compensation package is for the job at hand. Also look at the questions below for guidance.

Consider this a fact-finding mission during the interviewing process. Questions you can ask include:

  • Can you tell me about your top performers in the role to date?
  • What attributes make them most successful? Take this full-circle and link those attributes back to your strengths, with an example if possible.
  • Is there a grade level or salary range for this position (there almost always is)? If so, what is it?
  • Based on my qualifications, where do you envision I would fall in the range/or where does the current offer fall within that range and how was that determined? Is it negotiable?
  • Always ask for a specific number. If you give the company a range they’re likely to bring you in at the lower end, as you’ve shown a willingness to settle for that.
  • In the event I am fortunate enough to be the leading candidate and accept the role, what is the standard review process and timing for performance management and salary treatment?
How do you prepare to negotiate?

Do as much homework as you can on the company and fair salary for the role you are seeking. Be able to clearly and crisply articulate what skills/experience you bring to the role. The biggest mistake is not asking. No one is going to give you what you don’t ask for.

What is the #1 mistake women make?

Not negotiating when you accept a role. Most companies expect you to negotiate and are surprised if you do not. If that is the case you’ve left money on the table. If they say there is no movement, don’t hesitate to ask if there are stock options or something equivalent available. The worse that can happen is they say no.

What shouldn’t I say/do?

Try not to be nervous or emotional when you are negotiating. Once you do, you’ll have a huge confidence boost and will know how to do it next time.

What should someone say when negotiating?

It’s as much about how you say it as what you say. Be prepared (rehearse if necessary), state your case (why your well-suited for the role, what specifically you’re asking for, etc.), and then STOP TALKING and let them respond. Make it clear in your delivery that you appreciate and are excited about the offer, but there is one last topic that you’d like to discuss. Remember, if the offer is on the table, they see value in you and are not going to pull it because you advocated for yourself by negotiating. If you’re interviewing for a sales role it could be detrimental not to negotiate, as that is a necessary role to do the job day in and day out.

Are there any circumstances where you should not ask for a promotion?

I believe this is relative to career aspirations and life goals. For instance, if you have aspirations do bigger and better things, make more money, etc. and a promotion is available, absolutely pursue it.

If you have personal goals, life/family events that will prevent you from giving the role the time and attention it needs (baby on the way) you may want to consider that as part of your decision whether or not to pursue the promotion.

Let me know what your thought on negotiating are! Have you reflected on your value for the company and/or negotiated for yourself?

xx hails