Get paid what you are worth – things you need to know about salary negotiation

There is nothing that throws fear into our hearts, than talking about salary negotiation.  I mean let’s face it, there is some comfort in applying for public jobs, as you pretty much know what you will get within a classification band.  But if you are applying for the private sector, then make sure you follow these six tips below to ensure that you get PAID WHAT YOU ARE WORTH.

Tip One – Know your value

For an employer you represent a financial expense, as well as an investment – and the returns on their investment must be higher than the cost, (ROI), otherwise it is not viable to employ you.  So it is up to you to know what your worth is and make sure that the potential employer is clear on what this is, so they pay you the best possible salary or wage for your contributions.

To ensure that you get paid what you are worth, you need to demonstrate your worth in your resume and at interview.  To do this, you must focus on achievements and the challenges and problems you faced and successfully overcame.  If possible, quantify these results with dollar figures, or percentages.  If you can’t quantify them, think about how your contributions enhanced the organisation.  (If you are struggling to come up with any tangible achievements – email me for a free list of questions, to help focus your mind on the task).

Tip Two – Never discuss salary, until you are offered the job

It is important NOT to discuss salary, until you are offered the job.  Why?  Because a figure too low and they might screen you out on the basis that they think you are not capable of handing the responsibilities and a figure to high, will also result in you being screened out.

If asked about salary, before a job offer is made, postpone the discussion with a response, such as ‘If I’m the right person for the job, I’m confident that we can come to an agreement’, or alternatively ‘Before we talk about salary, let’s make sure I’m the right person for the job’.

Tip Three – Don’t be the first one to mention a salary figure

EVER!  Try to keep the mention of salary offstage for much of the interview process and if it does get broached, let the employer be the first one to mention a figure.  WHY?  Well research indicates that whoever mentions a salary figure first, generally loses.

Tip Four – Do your research

Be prepared by researching and determining salary ranges applicable to the position.  The more information you have, the more material you will have to realistically evaluate job offers and negotiate your salary.

Go to the internet now and spend an hour or so researching, compiling and printing salary research relevant to your situation.  Armed with this material, if the offer made is about what you were hoping for or higher, you can confidently seal the deal.  If it below this, than armed with your research you can inform the employer that based on your research, positions such as this, usually pay between A – Z.

Tip Five – Review other benefits

Salary is only one component of the negotiation process, so make sure you negotiate benefits that might be important for you.  Before you get started think about what benefits you want, such as a flexible work schedule, ability to work from home, a professional membership, expenses for relocation, a company car, special training, or additional holidays.  Once you have this list, calculate the cost to the employer and compare this with current practices in the market place, so that you can take this into consideration when negotiating for these perks and benefits.

Tip Six – Use the right attitude

Unlike other negotiations, where the relationship might be short-lived and transactional, employment negotiations are relationships that could last a long time (even a lifetime).  So while it might be acceptable to thump your fist on the desk, be uncompromising, give an ultimatum and be arrogant to gain a concession buying a car, this is unacceptable during salary negotiations, even if you know the employer wants you badly – (Unless you don’t mind being called a ‘numb nut’, or worse).

Conversely, don’t be so laid back, or extremely excited about the process so that you lose control or your bargaining leverage.  Instead take the middle road, which is noncommittal enthusiasm.