3 Ways to Prep for Salary Negotiation

The day has come! You sent in your application, aced the initial interview, and now an offer is on the table. This is where the tricky part comes in - how do you negotiate your salary? Read on for three tips to ask for what you want with confidence and tact.

Research Your Market

Research similar positions and how much they pay. If you’re armed with information, you’ll feel much more confident about the counter offer you make. And confidence is key when it comes to negotiating effectively. Prior research will also help you look at things from a business perspective rather than a personal one, something that can help to calm your nerves when it comes to the ask.

Know What Your Salary “Floor” Is

What’s the number you’re just not willing to go below? Boundaries are important in every facet of life, and compensation is no different. You know your worth as a professional and you want your company to know that as well. This doesn’t mean you’re pushy or money-hungry, it just means you are confident about the great work you can do. Setting your floor ahead of time alleviates some stress because you’re able to go into negotiations knowing that things can only go up from there!

Read the Whole Package, Not Just the Salary Number

A simple mistake people make is only paying attention to the yearly number on the contract. Yes, this is important, but what else are you being offered? What else can they offer you? Read your package carefully and assess additional items such as healthcare and retirement plans, bonuses, and equity stakes. These factors can become especially important if you’re between multiple similar offers.

Like every other part of the job search, salary negotiation is not easy, but it doesn't have to be scary. When you show up prepared, you’ll find that things move more smoothly and that you’re more likely to reach a consensus that leaves both parties content and excited to begin a new stage of professional partnership. So what are you waiting for? Get out there and get your coin!

Are you ready to own your career story and negotiate your dream package for your dream job? Join the waitlist for the Career Maven™Academy 4-week group program today, and get the support and guidance you’ve been looking for!