Top Tips For Negotiating Your Salary - Refresh Financial

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Top Tips For Negotiating Your Salary

 Negotiating Your Salary

You could be starting a new job or getting a promotion. Maybe you've been with the same company for years without so much as a raise. One thing is certain, however. Negotiating your new salary is an anxious business! You can eliminate much of the fear by having a clear gameplan before you start your negotiations. Keep reading to get started with our top tips for negotiating your salary!

Do your research first

- It is a good idea to find out what people in your position are getting paid. In this day and age, this is easy information to find. Your online search will yield a range of salaries, with the lower end representing new people to the position and the higher end representing people have been in that position for a while. Decide where you would fit on the scale and then you will see an estimate of what you should expect to get paid.

Have clear goals going in

- You want to avoid being caught off guard during your salary negotiations. Before negotiations start, you should have a minimum expectation that you are willing to accept. Be ready to aim higher, but prepared to walk away if they don't meet your minimum requirement.

Be prepared to explain why you're worth the money

- Part of the negotiation process involves you making a case for yourself. You need to be confident and able to list your skills, experience, and career highlights. Remember, you are trying to set yourself apart from everyone else in the field. The person you are negotiating with should be nothing less than impressed. Come prepared with all of these arguments listed clearly on your resume that you can hand to the other person when you get there.

Strategically, you will want to mention the higher end of the pay range first. This tip came from Reddit, and it's a good one. User, HittingEject had this to say:

"You want to anchor the price higher, such as saying "the high end for this sort of position is 75,000, though I'm aware that's usually not for starting positions" or something. Stretch it. The goal is to make them place the marker mentally higher and to make anything less seem smaller. Keep it within reason."

Be patient

- Take time to think about the offer you end up getting. Don't make any rash decisions and don't feel obligated to make a decision right there on the spot, unless you are very happy with what you've been offered. Talk to your family and friends about it and then decide what the best way to go is.

Don't be intimidated

- Negotiations are not always easy, especially if you're dealing with someone who is a seasoned pro at it. Remeber, have confidence in your worth and present yourself accordingly, there is nothing you need to be intimidated about.

What are some other tips for negotiating a salary? Let us know in the comments!

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