Money. It’s the dominant force throughout the entire world, and most of us hate talking about it. Did you know that failing to negotiate your salary can cost you hundreds of thousands of dollars throughout your career?
Thankfully, we’ve prepared this nifty guide to negotiating your pay and other benefits.
Surprise! The most important part of salary negotiations is negotiating your salary. It’ll be weird, uncomfortable, and anxiety-inducing, especially if your grandma scolded you for asking about money as a kid.
When job hunting, don’t offer a salary first. If they ask for your preferred pay on an application, leave it blank or put “negotiable” as the answer. Let your prospective employer offer a number first.
Until you receive an offer, don’t bring up compensation. The further along in the process, the more a company wants to hire you. Yay you!
Know your worth. Prior to any interview or negotiation, you should know your value, average pay for your industry, and what you bring to the table. Use sites like Glassdoor to research companies, how much they pay, and what their employees say about working there. It’s also important to consider cost-of-living when preparing your salary request.
Don’t decide you’re worth $64,750 and stick rigidly to it. Instead, decide you’re worth anywhere from $64,750 – $71,200. This increases your flexibility and improves your chances of getting more money.
Employers won’t throw money at you for no reason. Understand and utilize your value. Practice your pitch a few times before negotiation.
Maybe the salary is locked in and there’s not much wiggle room. That doesn’t mean you can’t negotiate other things! If this occurs, negotiate for more vacation time, sick days, or consider other benefits: child-care, health and fitness options (like a gym membership or company wellness program), tuition reimbursement, opportunities for remote work, or professional development and growth.
With this guide, you’re well on your way to fighting for a bigger salary, better benefits, and an overall higher quality of life.