The Best Strategies for Negotiating a Salary Increase
A conversation about salary can cause unnecessary anxiety. Here is how to present yourself as confident and prepared.
Be prepared - do your research. What is the going rate for your position? You can look on Glassdoor, Linkedin, and Salary.com.
Consider your years of experience, the size of the company, the industry that the company is in and the job location. A job in New York city is going to pay more than a job in Dayton.
Try not to give a salary amount first, say that you are open to hearing an offer. When they ask you what amount you want say that you are open to hearing an amount.
If you must discuss your current salary it is reasonable to expect a 3-5% raise when going to a new job.
Consider benefits as part of the negotiation. If the company won’t meet your salary number, perhaps you can get more vacation, a bonus, or negotiate for flextime.
When the company makes the offer don’t answer right away. Always make a counter offer. Take time to consider and ask what their deadline is. Most companies will give you a deadline as to when they need a definite reply.
Make your counter offer. Give clear concise reasons as to why you feel that you deserve a higher salary, or negotiate for more benefits.
If what you ask for is unreasonable it could cost you the job. This goes back to number 1. Do your research, don’t over reach.
Be patient. The subject of salary may not come up in the first or second interview, don’t be discouraged, wait for the offer.
If the offer is too low you can always walk away. Don’t settle for a job where you are going to be unhappy or resentful unless it is a good career builder, or you are not in a financial position to turn it down.