Let's face it -- today's work climate is a grind.
People are jaded more than ever -- with the data backing the fact that 70% of people say they dream about working somewhere else.
Poor company culture and burnout aside, proper compensation is one of the major keys when it comes to being satisfied where you work. You need to learn how to ask for the compensation you seek.
If you are looking for some salary negotiation tips that can help you nail that dollar amount you know your work is worth, read on and consider these valuable points.
Know Your Worth And Believe In It Before Exercising Salary Negotiation Tips
Before you ask your employee to believe in you enough for you to get paid what you're worth -- you need to ask yourself to do the same.
Never go into a negotiation about anything you don't actually believe in.
Even the most confident people in the world sometimes have a hard time when it comes to talking money. We think of money as some dirty necessity that is impolite to talk about.
However, you can't be a business person unless you can get comfortable talking about it -- especially when talking about paying money you're entitled to.
Wrap your mind around the fact that you're going to have a conversation about money, so that the salary negotiation tips can be used with conviction. Understand that a salary is simply fair compensation for your contributions.
If you know you work hard and give to the company in abundance, don't allow yourself to be ashamed to ask for what you are worth.
Still having trouble?
Get out a notebook and start jotting down all the contributions you've made to the company. Write down the things that you've learned and how you've used these lessons to become a better professional.
By starting within, you'll feel better executing these salary negotiation tips.
Know The Market
Believing in yourself is one thing -- you also need to understand the market and your field.
For instance, it might not be the best strategy to ask for a raise if your industry is experiencing widespread layoffs and restructuring.
However, if you know that your skills and experience are highly valued in today's market, use that to your advantage when you negotiate.
Keep in mind that it's called a negotiation for a reason.
This is a two-way street, and not you unfairly asking for something or trying to get over. Your job has a lot to gain and lose in these negotiations, as you do.
For instance, is turning down giving you a reasonable raise worth the cost of finding, hiring and training a new person to replace you?
Make sure that you're aware of what kind of salary people with your experience level and accomplishments are receiving in today's market. This way, you'll have far more ground to stand on.
If you're in the supply chain industry, and you know that people in your field are earning $34,000 on the low end, $59,000 on average and $88,000 on the upper end, you'll be more informed when asking for a specific price.
Determine The Minimum Of What You Are Willing To Accept
When mulling over salary negotiation tips, you're probably visualizing that triumphant moment when you make great points and get the handsome raise you're asking for.
However, sometimes the end result is far less exciting.
Sometimes you start negotiations high, and the compromise lands somewhere that neither party is incredibly thrilled about. This happens often when companies meet in the middle.
To make sure that you're satisfied at the end of negotiations, you need to name a price that you're not willing to go less than.
You won't be taken seriously enough to get paid what you deserve until you know what number is unacceptable.
When you've done your research on salary negotiation tips and the like, it's easier for you to know which salary number is too low for your liking.
Practice Your Pitch
Never go into any salary negotiation cold.
This is a conversation that you should rehearse as many times as you possibly can so that you're comfortable with it.
Make sure to talk it out, rather than just have the ideas in your head.
It's easy for nerves to get the best of you, to the point that you tighten up and have trouble stringing your sentences together. However, we've you've practiced your salary negotiations countless times, you'll override this fight or flight response and will nail the pitch.
Make sure you empower yourself to communicate effectively as well.
Get a good night's sleep before, and eat a healthy breakfast that helps your brain to function properly.
It wouldn't hurt to get a workout in at the gym, since lifting weights are shown to improve your memory and override the psychological resistance that comes with public speaking.
Working out these kinks helps you to be the best "you", which lets you express your pitch with passion and conciseness.
It's also worth it to meditate before your pitch so that you are able to quiet your mind, as opposed to being carried off by your thoughts.
Have Someone Who Can Go To Bat For You
While the "It's not what you know, it's who you know," cliche is no substitute for hard work -- it definitely helps with influences bosses.
With this in mind, think about who in the company can speak favorably on your behalf.
Having someone in management who believes in your career can be worth it once it's time to negotiate salary. This is why it's so important to nurture relationships on the job.
Keep in mind that forming these relationships isn't about office politics -- it's about having a team of allies that you navigate your career with. No one in business or any other area of life does it alone.
Make sure you have people who can vouch for you, and the rest of the negotiation will be a breeze.
Shoot For A "That's Right"
According to experts, shooting for a "that's right" is the holy grail when it comes to salary negotiation tips.
When you have someone give you that green light based on your explanation, you'll know you're on the right track.
This is an acknowledgment that you've done your homework and express your points in such a way that they can't dispute any of your logic. When you have your manager or employer in this state of mind, you would do well to go for the hard sell or otherwise express your points.
You will want to be present and conscious during negotiations so that you can key in on these little vocal cues, rather than simply running through the interview as if you're trying to get it over with, or only express your points.
Think About Their Counterpoints In Advance
You're in the driver's seat during salary negotiations when you not only know what you're going to say but also what the other party is going to say.
This requires you to take an honest assessment of yourself, the company climate and what you're asking for. Take a good look at these matters to put yourself in the other party's shoes.
While wearing the other party's shoes, envision what your response would be if someone made those points to you.
Then, think about what it would take for you to change your mind.
You can reverse engineer the entire salary negotiation until you have several counterpoints for those that the other party makes. Even if they don't immediately give in, they'll know you did your homework and are about your business.
Make Sure That Your Data Backs You Up
Think about your last job interview.
Since you wanted to highlight yourself as a standout job candidate, you did your research and knew exactly what points would stand out and make them want to hire you.
You have to treat salary negotiations the very same.
Do your research so that you have sound data backing your performance claims.
When your boss sees, for instance, that the data shows you have stellar attendance, surpass performance objectives and bring the company more money -- it's hard to say no.
Approach Salary Negotiations When You Have Leverage
In terms of salary negotiation tips, having leverage is easily the most valuable.
Leverage empowers all the aforementioned salary negotiation tips and can make saying yes to your request a no-brainer.
First of all, making yourself irreplaceable is the best thing you can do for both yourself and any company you work for. Send some feelers out to other companies during this time so that you can see if they are willing to pay you what you're asking for.
The company will be more than likely to take you seriously if they know there's an actual chance that they can lose you.
Having another job offer in your back pocket takes these salary negotiation tips to the next level and helps you ask with full confidence.
Are you looking for other tips related to salary negotiations? You can contact us for related services and info for both employers and employees.