Despite the possibility of having more savings in the 401(k) or extra beer money, over 59% of U.S. employees don’t negotiate their salaries when they’re hired. According to Glassdoor, the average American is underpaid by $7,500 because they won’t negotiate their salary. Read our guide to salary negotiation so you can advocate like a pro:
Asking for a raise can feel awkward, especially if you’re new to the job market. You don’t want to come across as rude or arrogant, but you also need to pay your bills and eat something other than ramen. Remember, your future employer expects you to negotiate: as you don’t act offended by their initial offer, you won’t come across as rude or arrogant.
Know Your Worth
Do your research. What’s your market value? Forget discussing a raise in relation to what you currently earn. Discuss how much you’re worth in the labor market and bring up hard numbers. If you’re negotiating your salary at your current job, don’t wait until your performance review to ask for a raise. This is too late. By this time your manager probably figured out who to give raises to already. Request a raise early, especially if you’ve been at your job for over a year and exceeded expectations.
Shoot for the Moon
Ask for more than you want or expect. Starting too low doesn’t give you any room for negotiation, and if you start in the middle range you’ll end up settling for less. Name your price and be specific instead of giving a salary range (however tempting this may be). This shows you did your research and landed on a number. If you start towards the upper limit of what professionals in your role are paid, you’ll walk away with something better than you would have otherwise.
Walk-in with your head held high and smile: tell your boss how your job excites you but also emphasize your salary expectations. Be friendly and positive but firm in your decision. In the end, settle on a salary that fits your goals and how much you can earn in this role.
Walk It Out
If the salary is below what you think is right, take the time to think it over and weigh your pros and cons. If you think the offer is still too low make a thoughtful counteroffer. If they won’t budge when you counteroffer, consider the possibility of walking away. It can be scary and difficult, but in the long run, you’ll be happy you didn’t settle for a less-than-ideal salary.
Negotiating can be a lengthy, difficult, and awkward process but it’s worth it to take control of your career. If you’re on the hunt for a new job, then Oggi a great place to start. Visit our website or call us at 612-333-OGGI (6444) to learn more.