Negotiate your salary with confidence

We all know how intimidating conversations around salary negotiations can be, but this can be easily managed with some forward planning and preparation. Self-value and confidence are usually major factors in this process. We all have moments when we question our worthiness, this is especially true for individuals who are changing career. Fear or lack of confidence is a top factor in an individual’s ability to negotiate salary effectively. At the root of our anxiety to negotiate for more money is a fear that we aren’t worth it or that your employer will reject your request. The good news is: we have put together a short guide to help you address salary and negotiate with confidence.

Know your value

It’s important to research the average salary of your position or the position you are aiming for before you walk into a salary negotiation. You can calculate your market value but using popular sites like salary.com, Glassdoor and Linkedin and you can also talk to specialist Recruiters in your field, they know what people with your experience/skills and expertise are worth, so use it to your advantage!

One of the biggest mistakes in salary negotiations is that people often focus too much on money, and not enough on the other benefits offered in the package. Part of this is because we tend to overlook the importance of assessing what we really want (and need).

To overcome this common mistake and before you begin the salary negotiation process, ask yourself the following questions:

What do I need? (These are non-negotiable items that can’t be compromised)

What do I want? (These are preferences, but there is a willingness to compromise)

What don’t I want?

The answers to these questions should help you to guide the remainder of the negotiation process, as they form a wish list that can be compared to all job/salary offers.

Chose the top range

Once you’ve completed your research, you’ll likely come up with a range that represents your market value. It can be tempting to ask for something in the middle of the range, but instead ask for something closer to the top.

You should be confident that you’re entitled to top pay and if you are negotiated down, it gives you wiggle room to still end up with a salary you are pleased with.

“Walk away point”

When you’re considering your numbers, you should also be mindful of a number that you are not willing to go below, this could be your “walk away point”—a final offer that if not satisfactory, you would need to walk away from. You could base this on financial need or simply what makes you feel good about the salary you’re bringing home.

Whilst it’s never easy to walk away from an offer, it’s important that you feel valued for the skills/experience you bring or for the commitment you’ve made to the company, but it’s important to know when to do it. It’s also powerful to be able to say “no.”

Negotiations can be difficult for most people but ensuring you are prepared will give you confidence and the more you do it, the easier it becomes!