Whether we’re looking over that job offer, or gunning for a promotion in our current job, it is likely that we might be thinking of negotiating our salaries. Or are we?
A survey by Salary.com revealed that only 37% of people always negotiate their salaries—while 18% never do. Even more shocking is 44% of the respondents claim to have never brought up the subject of a raise during their performance reviews. In another study by Linda Babcock for her book, Women Don’t Ask, it showed that only 7% of women attempted to ask for a raise, while 57% of men did. The biggest reason for this? Fear.
We get it, there’s something about asking for more money that makes job seekers uncomfortable that they’d rather skip it instead of speaking up and potentially increasing their starting salary. Here’s an interesting fact: You actually lose millions of pesos over the course of your career life just because you didn’t negotiate your salary. Let’s just reflect on that reality for a minute. Yes. A million pesos.
So how do we do this scary thing called negotiating?
Here’s an awesome video from Forbes that might just help you on your path to success when it comes to negotiation.
Tip 1: Ask for more time
Ask for more time to consider the offer, specially if the number they offered is not exactly what you were aiming for. Most likely, companies already expect that there will be some negotiations before a person formally accepts a position, and assuming you have done your market research, you should be comfortable knowing the salary range and typical benefits for your position.
Tip 2: Be enthusiastic
Communicate that you want the job, and that you’re excited to talk about the offer further. Make sure you ask the right questions, and that you fully understand the scope of responsibilities you’re getting into.
Tip 3: Arm yourself with research
Gather data, specifically for your position and the location where you’ll be working. You can contact your network, but it’ll be weird if you ask them how much they make, so instead, ask them to give you a range. You also can see if any professional organizations or websites provide data on average salaries around the country in your industry.
Tip 4: Give a number
But don’t use the word “between” when negotiating, it gives the impression that you are willing to concede. Instead, give a definite number like Php 35, 870, it will make the employer think that you’ve done thorough research. Give them the highest range you want but make that as the low-point of a range you offer.
Tip 5: Expect pushback
Employers will most likely push you back with your negotiation, don’t lose hope. Think of yourself as if you were in an interview: selling your expertise, your talents, and knowledge to them. Don’t be afraid to counter when they say no, “I understand where you’re coming from, and just want to reiterate my enthusiasm for the position and working with you and the team. I think my skills are perfectly suited for this position, and are worth Php X.”
Tip 6: Leave emotion out of it
Whether they give you that grant or not, accept or reject with grace. Always.
So before you accept that job, or hold on to that new position, make sure you’re paid with what you’re worth.