Salary Negotiation: How To Take Your Earning Power To a Whole New Level
I have received so many emails from you asking for more advice on salary negotiation. That is why I asked Bethany to give us some advice! I know it is hard but you have to be confident and know what you are worth! Today’s post is written by Bethany Ramos who is a full-time freelance writer and co-owns her own e-commerce website, The Coffee Bump. The Coffee Bump specializes in a wide variety of bunn coffee makers and assorted coffee and espresso products.
For many young professionals today, salary negotiation may seem like a four letter word. Yet it is a critical part of the game if you want any chance of advancing in your career. Once you’ve learned the basics of salary negotiation, you have the potential to take your earning power to a whole new level.
- Start with your experience. It’s hard for a potential or current employer to argue with your experience and expertise in your industry. When you can prove to an employer why you are the perfect fit for a position, it will make it easier to get the base salary you are looking for.
- Don’t make the first offer. One point that many women overlook in salary negotiation is to allow the employer to make the first offer. It is best to steer clear of any salary discussion until you have been offered a position. After the employer has decided that they want you for the job, it will be easier to negotiate the salary you are looking for. In the same way, if you are up for a review, focus on your contributions within the past year instead of asking for a specific monetary raise in your annual salary.
- Do your homework. You will do yourself a disservice by going into a salary negotiation without researching the base market value of your position. Find out what employees are being paid for the same job at competing companies. Although this is information that you don’t want to throw in your employer’s face, it can be used at the right time as a bargaining chip to secure the salary you want.
- Sell yourself. Although it may feel awkward for some of us to brag about our strengths, if you do not believe in yourself 100%, it will be difficult for an employer to believe in you. Have the attitude of a salesperson in a salary negotiation. You don’t want to come off as cocky or arrogant, but you do want your employer to know that you are worth the extra money.
- Know your limits. If you are considering a new position, make sure that you know your limits well before a salary negotiation begins. These limits can be based on the salary ranges that you will consider, as well as the average salaries paid to other employees in similar positions. Don’t go below your bottom line when considering a new job.
Have you negotiated your salary before? What is your advice?