5 salary negotiation tips that will get you paid what you’re worth
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Sure, we can tell ourselves to be grateful with what we have – like a healthy body, a shelter and a job to provide for our needs. But being content doesn’t always make it easy when it feels like the cost of living is just skyrocketing these days and our pay checks aren’t doing much better.
And since praying certainly won’t get us far, we’d better be prepared if we want to negotiate a better salary.
Unfortunately, not everyone is a natural born negotiator, especially when it comes to money. But don’t let that stop you from aiming high! You won’t be on the losing side if you arm yourself with our new job and internal promotion salary negotiation tips. Whether it’s asking for a higher starting salary or fighting for an internal raise, be sure to read our top advice first and strut into the negotiation like the boss you are!
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Don’t sell yourself short, you’re worth more than you think
Don’t just accept whatever’s offered – you’re worth more than you think! Take some time to realistically assess your skills and education level, so that you know what market value you offer.
Do a bit of online research to get a better understanding of the average salary for your type of job or industry. That way, when it comes time to negotiate, you’ll have a good idea of what range you’re aiming for.
When calculating what to ask for, remember that the number shouldn’t just meet your basic financial needs; it should be something that you can proudly call your own.
A walk away point is totally valid – if someone makes an offer that’s outside of your self-determined number, don’t hesitate to respectfully decline. As long as you know what you want and aren’t afraid to go after it, there’s nothing stopping you from getting what you’re truly worth!
Don’t be too quick to shout out a number
When it comes to talking money, the first rule everyone seems to give you is “never give a number first”. And if you do, you might as well just shout it through a megaphone!
But seriously, having a ballpark figure in mind that sits around market rate and reflects what you deem acceptable is one thing. Slapping down your last drawn salary though – not so much.
No matter how tempted you may be, don’t buckle under pressure and quote exact figures from your past experiences. Keep it vague and take a step back. Let the HR come up with their own number before trying to haggle for more. That way everybody wins… or at least nobody walks away with an empty bank account!
Practice makes perfect
Being prepared for negotiations is key, it’s the time to show your strength, charm (if you have any left!), and most importantly, your worth. Make sure to focus on all the success that you have achieved since joining the company, from cost savings to smashing projects; everything should be put onto the table.
Keeping confidence as well as professionalism is incredibly important – remember you know your worth! Don’t let anyone wash over you during these proceedings; make sure your voice is heard and stand up for yourself.
Before you gear up for any negotiation, don’t forget to rehearse. Otherwise, nobody is going to be impressed when you shout out your achievements faster than a sports car zooms past a flagpole.
Your preparation will show your potential counterpart the effort you’ve put in and will give you an edge that could make or break the negotiation. So, take the time to review all of your hard work and practice delivering it with confidence. You know what’s at stake – make sure your performance demonstrates that!
Non-salary benefits go beyond money
It can be frustrating when you’re offered a salary that’s just not quite what you had in mind. It can be really disheartening to have all those hours and hard work paying off in such an underwhelming way.
But it’s important to remember that job offers don’t just include salaries – they also come with benefits like health insurance, retirement packages and other bonuses or perks.
Don’t forget to factor these into the overall package your employer is offering you – especially as these kinds of benefits can often be easier for them to provide than a salary increment! Vacation time, flexible working hours, stock options…the list goes on – so remember, don’t overlook these parts of the offer, and make sure you’re getting the best value out of the deal!
And if you fail to negotiate for a higher salary? Don’t be depressed. How about asking for something different by suggesting other forms of compensation—like more vacation weeks or a signing bonus? It turns out employers tend to consider the concept of internal equity when deciding on salaries, so if you’re willing to budge on the number, they may be more likely to give you meaningful raises down the line.
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Extra tips for negotiating your expat package
Negotiating your salary after relocating to a new country can be one of the most daunting feelings as an expat. But don’t forget! There are way more things to consider than just dollars and cents when it comes to fortifying your job contract.
Relocation fees, car allowance, housing allowance, visa costs – all these factors can make or break your salary package when you’re negotiating in the foreign land you now call home. So don’t skimp on making sure all the details are sorted out before you get started! After all, expertise doesn’t come cheap… The devil is in the details!
Before you go…
Are you an expat who has managed to negotiate a fantastic salary package for yourself? Congratulations! Just don’t forget to check out Instarem if you want to maximize your already impressive earnings.
Forget about conventional banks and money transfer kiosks, Instarem is the way to go if you want the best exchange rates at low, low fees. Now that’s something worth smiling about! The user-friendly platform makes it easy to send money overseas wherever it needs to go in no time.
Disclaimer: This article is intended for informational purposes only. All details are accurate at the time of publishing. Instarem has no affiliation or relationship with products or vendors mentioned. Rates displayed are for illustration purposes.
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