How to negotiate for your salary
I found a helpful audio training on LinkedIn Learning and wanted to summarize it for everyone else. I’ve also added some of my tactics to make it more interesting.
Before entering a negotiation, it’s essential to have three figures in mind:
- Wish — The amount you might be uncomfortable stating aloud but would love to receive.
- Want — The figure that works for you and you would find acceptable.
- Walk — The absolute minimum you’d consider and would be willing to walk away from the negotiation.
Remember, “Competence breeds confidence.” To prepare for your negotiation, ensure you are technically competent. It’s important to acknowledge that we are all replaceable, but the key is to determine how long it would take and how much effort HR would need to find a replacement. If you are confident in your abilities, you can better prepare for the negotiation.
Negotiation isn’t about taking advantage of the other party; it should be a mutually beneficial agreement. You need to persuade the other party that the return on investment (ROI) for both sides will outweigh the costs.
Try to list your achievements in advance, detailing your responsibilities and contributions to the company. If your role doesn’t lend itself to this kind of listing, emphasize your personal growth and how it aligns with the company’s needs.
Ensure that the other side isn’t facing difficult circumstances, as this can impact your negotiation success. This applies to both the company and the employee.
If your company can’t offer a higher salary, consider asking for non-monetary compensations like a work-from-home arrangement, additional vacation days, access to company resources for personal development, or an increased education budget.
It’s perfectly acceptable to take your time to consider the offer and inform the other party that you’ll make a decision in a few days. Never feel pressured to decide immediately to maintain your leverage in securing the best possible deal.
Negotiation is a crucial skill that everyone should master; it’s a necessity, not just a nice-to-have skill. So, invest in improving your negotiation skills by reading and listening to advice from experienced negotiators. Whether you’re an introvert or not, you can develop your unique approach to negotiations. If you don’t work on it, no one else will do it for you.
If you want to listen the original training, here is the link :)
