1. Start by calculating your value
It’s important you know exactly how much value you can offer an employer before you begin the process of negotiating a salary. There are several factors that can influence your compensation, such as:
Years of industry experience
Years of leadership experience
Licenses and certifications
2. Research the market average
Having this data can help support a more successful negotiation and can be found by using Indeed Salaries. Knowing the market average can give you a good baseline for your salary request, and can even be used as justification. This tool uses salaries listed from past and present job postings on Indeed as well as data submitted anonymously by other Indeed users. Here are some questions to consider as you begin your market research:
What is the national average salary for the position?
What is the average in your geographic location and in cities nearby?
How much do similar companies in your area pay employees in this position?
3. Prepare your talking points
As you’re developing negotiation notes, it might be helpful to answer the following question as a framework for your conversation: Why do you feel you deserve a higher salary than the one the employer is offering? Be sure to put together a few talking points before you contact the employer and be as specific as possible.
4. Be confident
Delivering your negotiation with confidence is as important as the words you say. The more confidence you convey, the more confident the employer will be in their consideration of your feedback. Remember you’re bringing an important set of skills and experience to the organization, and the pay an employer offers should account for the value you provide.
5. Be flexible
Even if the employer is unable to provide the salary amount you want, they may be able to offer other forms of compensation. For example, you may be able to negotiate more stock options, extra vacation days or additional work-from-home days to combat a lengthy commute. Don’t be shy about asking for alternatives. In some cases, they may be just as valuable, or more valuable, than a paycheck.
6. Don’t be afraid to walk away
In some cases, an employer may not be able to meet your minimum salary requirement or offer additional benefits that make it worth your while. Or the employer may counter-offer with a salary that’s higher than their first offer but not as high as your request. In this case, you’ll need to decide if the job is worth the lesser amount. If it’s less stressful than your current position, is closer to home or offers you more flexibility or more free time, you may be open to taking a lower salary. However, if not, you should consider walking away and seeking other opportunities elsewhere.
Even if you end up declining the offer, it’s important to do so in a friendly and professional manner. After all, you never know what opportunities they may have available for you in the future.