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The Three P's of Salary Negotiation
"Salary negotiations aren’t easy for most people. If you’re going after a new job, you don’t want to price yourself out of the market. If you’re attempting salary negotiations at a job you already have, then you may be afraid of bringing up the subject at all or be concerned you won’t be taken seriously, or worse, that you will make your current boss angry. Fortunately in either case, if you do your homework, approach the matter of salary negotiations in a professional way, you will likely be surprised to hear your employer say yes to your salary requests—and always present them as requests, not demands.
The very first step in salary negotiation, though, is to know your own value. This is particularly true when negotiating for a salary increase in a job you already have. To determine your worth, consider these things:
• Your skills • Your experience • Your education level
All of these things are important when evaluating what you are worth as an employee. After you determine your own worth, you want to research how much others are making for the same job you’re doing. Again, your experience, education and skills must be comparable. Someone with the same job title you have may, indeed, be making thousands of dollars more than you are, but when you investigate, you’ll probably learn that the person has 10 years’ more experience than you do, lives in an area where salaries are higher overall or has a higher education level than you do.
Once you know your worth and what your position or the position you’re seeking is worth, then you are ready to present your salary or salary increase request to your employer. This is where the research you do will pay off most because, as in anything else, presentation is everything. The better prepared you are with facts and figures, the more likely an employer is to listen.
When involved in salary negotiations you, above all, want to have your facts and figures ready. You will want to be prepared to calmly and rationally explain why you feel you deserve the raise or salary you’re asking for. Having the facts and figures ready to back up your salary request will ensure you have the confidence to answer any questions that may be thrown at you during salary negotiations. Being unprepared is what normally causes people to fail when negotiating for the salaries they want—and deserve.
Don’t let this happen to you. Be prepared. Know your worth, position’s worth, what similar companies are paying in your area, and don’t make the discussion personal. Never bring personal matters such as child support payments or new car needs into salary negotiation discussions. Salary negotiations should always be conducted in a professional, businesslike manner—and the more professional and prepared you are, the more likely you are to get that raise or salary you deserve.
Willian Nichols - Staff LAJobHunter
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