11 Win-Win Salary Negotiation Secrets

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From WorkGoesStrong.com By: Leslie Ayres February 9, 2011






1. Remember it’s just a conversation.


Salary negotiations are a conversation and collaboration between two
human beings who are working out the details of a business transaction.
The other person wants you to be happy, and you want them to be happy,
and it's not personal, so there is no need to approach it as if someone
wants to take advantage of you. You're both looking for the win-win.


2. Your personal need for money is immaterial.


Of course you care about your expenses and personal budget, and you
shouldn't interview for a job you can't afford to take, but salaries
aren't based on need. Leave any conversation about your childcare costs,
debt, commute expenses and general overhead out of it. Your
compensation is strictly based on your value to the company, so keep
your focus on that.


3. Know the going rates for the job.


Check salary survey resources like www.salary.com
to see what's usual in your area and for the job you're doing.
Remember, to be at the top of the range, you need to be at the top of
your game, and some companies never go there with starting salaries.
Smaller younger companies often pay less than bigger more established
companies, and salaries can be very different in different parts of the
country, so make sure you're comparing apples to apples.


4. Don’t be the first to throw out a number.


Don't fill in your salary expectations in on any forms if you can
avoid it. The best way to respond to the "What kind of money are you
looking for?" question is to say "That really depends on the job itself,
and on other perks and benefits," or, "I want to be paid in line with
what others in the company make for a job like this… can you tell me
what you've budgeted for this job?"


5. Don’t lie about your current compensation.


If asked about your current salary, tell the truth. If you're caught
lying (and I've seen this happen), you'll lose the job. If your last
salary was much lower or higher than this job, then give an explanation,
for instance, "My last company had a wage freeze for three years, so
our salaries were low, but I'm interviewing on jobs that pay $25 an
hour," or "I was well paid there, but I didn't enjoy the work the way I
will here."


6. Consider the value of non-salary and non-cash compensation.


Extras like matching 401K funds or tuition reimbursement add to the
value of an offer, and non-cash perks like extra vacation time and being
able to work from wherever you are can pay big dividends in happiness
and job satisfaction. Stock options might have big long-term potential,
and fully paid insurance can be worth thousands of dollars a year.


7. Be confident about asking for what you want.


Believe in yourself and speak up for what you want in a confident
and agreeable way, and you just might get it. One of my coaching clients
had an offer for a great job that was perfect for her, except she
really wanted to work from home at least one or two days a week. The
company had never allowed telecommuting before, but she asked if they
would consider it for her and they said yes. It was that easy.


8. Ask about bonuses and incentive programs.


Many companies have generous bonus plans that can add 5-25% onto
your salary. In very competitive fields, signing bonuses are common, and
are used to entice someone to accept an offer, and sometimes to make up
for a lower-than-desired starting salary, but if you don't ask about
it, they might never mention it.


9. Clarify when you’ll have a salary review.


Performance reviews don't necessarily include salary reviews, so ask
when your first salary review would be, and what kind of increase might
be expected for an outstanding performer. Knowing an increase can be
earned can make it easier to accept less money to start.


10. Sleep on it.


Even if you know you're going to say yes, take some time to make
sure you understand everything about the offer. If you have questions or
concerns, let them know, but don't string them along. Just about any
company will wait overnight (or over the weekend if the offer comes on a
Friday) but more than a couple of days will send the message that
you're not enthusiastic about it.


11. Get it in writing.


After the verbal offer, make sure you get all of the details in
writing so that there is no confusion down the road. If it's done via
email, print a copy for your files. Read carefully, particularly if it's
written in legalese, and make sure it matches what you agreed to. Don't
worry about asking for changes. Remember, they want you to be happy,
too.

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