The most difficult part of any salary negotiation is that feeling that you’re always leaving something on the table. Unless you’re interviewing with an organization that makes its salary data public, the chances are that you’ll never truly know if your offer is on par with what your new colleagues or your predecessor are making.
Picture from Gizmodo
Recently, experienced career coach Ellis Chase has helped one of his clients to get her dream job working for a hedge fund in an article on Forbes. And here is his basic idea:
Let Employer Fall In Love With You Before You Start Talking Numbers
This is the most important thing. You should be well prepared and fully express yourself. Show the employer what your strengths are and convince them that you are a competent employees. That way you’re in a much better negotiating position.
Don’t Talk Salary Right Away
“When you get the actual offer, you’re in no emotional shape to negotiate,” he says. “All you’re thinking about is that you got the offer and you just want to lock it up.” A lot of people are afraid that if they ask for more time, the hiring manager will rescind the opportunity. But that doesn’t happen 99% of the time, he says. What you should say: “I’m thrilled you want to hire me. Could you just give me a couple of days to think about it?”
Do Enough Research
Then, Chase says, it’s time to do as much research as possible on how much the company pays for that position and to draw up a list of things that matter to you, including your scope of responsibilities, base salary, bonus, frequency of reviews, vacation time, technology you’ll be using, even where you’ll sit. Go into the next meeting with a pad and pen and say, I hope you don’t mind if I take notes. That will signify how serious you are and ensure that you have a record of what you agree upon.
Check out the article to learn more but also remember, your salary is in your hands, so take the opportunity to learn more about negotiating better compensation for yourself and your subordinates.
Make use of your SkillsFuture Credits and take a course on Discussion of Total Compensation.
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