You just received a job offer after months of job searching. Or perhaps you've worked diligently, hitting many of your goals. Either way, it's about time you get paid what’s fair. However, negotiating for what you’re worth can be intimidating for any employee.
But what can you do about it?
There are a few must-know tips for asking for a salary. It's time to demystify salary negotiations and dominate your next performance review or job offer.
Negotiation Tip #1: Don't Be Scared Of Money
A salary can feel tied to your self-worth, so, understandably, it’s not the easiest topic to discuss in depth with a loved one, let alone a superior. And you’re not alone.
Writing for The Atlantic, Joe Pinsker states that 34 percent of cohabiting couples aren’t even aware of what their partner makes.
And Pinsker concludes that "...people are “more comfortable” talking with friends about marital discord, mental health, addiction, race, sex, and politics than money."
That's a sobering statistic. But it illustrates how reticent we are even to broach the subject of pay raises. It’s important to start talking more openly about money, especially since it could mean thousands of dollars reflected in your paycheck.
Don’t Worry, You Won't Offend Your Boss
Picture it: it's the night before your performance review, and you're planning to bring up a substantial salary raise. Chances are it's pretty nerve-wracking, right?
After all, what happens if your boss reacts poorly?
Don't worry; negotiation is a part of life, and your superiors know that.
Riva has worked with over 5,000 clients, and not one client has lost a job offer after partaking in salary negotiations. It's a myth that negotiations harm relationships. In fact, they tend to strengthen bonds.
You're outlining what you expect, deserve, and need to thrive in your role. High-level managers and executives respect that in an employee.
In the end, everyone has the same goal: to have you work on their team!
Rather than thinking of an uncomfortable conversation and potential conflict, picture yourself working together to solve a problem. How do your company and you work through this?
One way is by being prepared to ask in the first place.
Negotiation Tip #2: Do Your Homework
Turn any anxiety into determination.
People often worry their superiors will ask tough questions but spend their time hoping these things won’t come up.
Instead, prepare in advance by writing down the things you’re most uncomfortable addressing – and practice your answer.
This strategy benefits you in a few ways. Number one, you'll be prepared for the worst-case scenario. Secondly, everything discussed after that will pale in comparison.
The Power Of Walking Away
An essential aspect of good negotiation is being knowledgeable. With walk-away options, you can create substantial leverage. Whether it’s a competing job offer or the state of the company with whom you’re interviewing, the power of walking away can move mountains.
Is your position in high demand? Is the company short-staffed? These aspects play a massive role in how you negotiate.
The person you’re negotiating with may not have an easy alternative to hiring you. Whatever the reason for the inflexibility on their end, it can serve as a substantial boon to your negotiation efforts. Be sure to frame these walkaway options as a joint problem that you can work through.
For example, saying something like, “I want to come work at your company, but it’s hard for me to turn down the extra cash.” is a constructive way to communicate your worth while advocating for yourself. Or: “I love my job, but it’s hard to stay motivated when I feel undervalued.”
The more you can understand the walkaway options for both sides, the more leverage you’ll have.
Negotiation Tip #3: Take Your Time
You must take your time when at the negotiating table.
Even if there are awkward pauses in the conversations, let them happen. Embrace the silence. It behooves no one to rush forward unprepared.
Plus, if you make your case and embrace the silence, you can easily leverage your power. By putting the ball in their court, they can give you helpful info by staying conservative with your words.
Use your preparedness to help you through negotiations.
- Have you garnered praise these past few months?
- Has your workload changed significantly?
- Consider your role at the company and what your responsibilities are
Outline your case for an increase, and stick by it. Remember to align with their interests. And, above all, it's vital to be respectful.
Negotiation Tip #4: Advocate For Yourself
Many people feel like the simple act of advocating for themselves risks alienating their boss.
Or maybe that exciting job offer will suddenly disappear because they asked for too much.
Being transparent, open, and honest about your own needs with your boss builds confidence within the workplace. Most employers would rather you advocate for yourself than walk away from the job or feel unmotivated.
People don’t realize how hard it is for the other side of the negotiation table. It takes a lot of time and effort to find good talent, and it takes longer to replace a solid employee.
Don’t sell yourself short when asking for a pay raise.
Negotiation Tip #5: Reach Out For Help When Asking For A Raise
Don't go it alone! Don't be afraid to get professional help with salary negotiations.
Fortunately, help is out there. Many free guides and tutorials exist online for casual browsing.
But there's something better for those who want to ensure they’re getting the most out of their negotiations. A trained coach can be one of the best ways to maximize your pay.
Riva has helped more than 5,000 clients earn what they're worth, and our coaches regularly get people more than they ever thought possible–$24k on average.
Plus, whether it's negotiating a job offer or pay raise, we'll help you every step of the way. This even means we'll draft emails for you to get the ball rolling with your boss or manager.
And it doesn't stop at money, either. Riva coaches will help snag you other career perks, like vacation days, remote work, better benefits, and a better title.
Stop leaving money on the table. Reach out to the expert negotiation coaches at Riva for more information, and get ready to earn more.