Learn how to Negotiate your Salary!
Adam’s having an interview with a leading tech company. It’s his dream job. The interview is going well. Towards the end the interviewer says: “Great! And what are your salary expectations?”
“Around 150K.” Adam smiles. He feels confident. After all, it’s a great company. His expectations should be within reach.
Silence. Adam’s starting to feel nervous. He tries recover: “Or maybe you can tell me what’s on offer…” – “Let me get back to you…” the interviewer says.
Surprise, surprise… Whether you’re changing jobs or trying to get a raise at your existing company, this is not how you negotiate your salary!
At The Happy Mondays Co, we pride ourselves on helping our clients achieve and exceed their salary expectations. Curious? Watch the video and learn from Sandra Quelle, our Chief Happiness Officer, how to get that raise:
Easy, right? Let’s review:
1. Do your research! Don’t go into the negotiation without knowing what’s the market average pay for your role in your industry. Use Glassdor, Payscale etc. for this.
2. Know your worth! Always position yourself at the top 30% of market value.
3. Don’t give a specific number! Give the employer a range to work with. By doing this, you give the company some wiggle room to negotiate with you.
4. Play it smart! Never say “I’m looking for a pay rise” or “I want x amount of money.” Rather, start with “Based on the conversations I’m having, I’m discussing salaries between…”
Know what you want! It’s not just about your salary. Think about the whole package, including bonus, holiday allowance, flexible working hours etc.
Prioritize! Look at your wish list and rank each item by importance. Identify what areas you can compromise on.
Dance! Negotiation is about give and take. You need to give a little to get a little. Play with your negotiables to get what you want. By working with the entire package, you give the employer more opportunities to find a suitable solution and come closer to your expectations.
Lastly, NEVER say “I’m open to hear what you have to offer”. The employer will push you for an answer and you will seem uncertain of what you want, which will decrease your negotiation power and even decrease your attractiveness as a candidate.
Also, don’t take an offer straight away - even if it is THE perfect offer. You don’t want to seem too easy… 😉 Take time to think about it and make sure it ticks all your boxes. Equally though, don’t negotiate more than 2 rounds.
Based on this approach, we’ve helped our clients even double their salaries. Will you give it a go? Do you have other tips? Please share! Comment below or contact us! We’d love to hear from you! 😊