So you’re starting a new job. Did you negotiate your salary? Seems like an obvious tactic, sure. But for many job seekers, not always an easy one.
In fact, only 33% of employees negotiated their salary for their most current job according to Jobvite’s 2019 Job Seeker Nation Survey — with 83% successfully receiving higher pay. Don’t leave that potential money at the table. Here are a few best practices to help negotiate your salary for that next job or promotion. Trust us, you’ll be happy you did.
KNOW YOUR WORTH
The first step to salary negotiations: do your research. Senior Director of Executive Search, Brian Harkavy, regularly negotiates salaries on behalf of his candidates, and understands that paying top professionals at market rate is key. “The market dictates what people are making,” he explains. “And if the client isn’t willing to pay that, I say ‘well, someone else will.'” Not sure how to price yourself? Harkavy recommends looking to salary guides to find what peers in similar roles and/or backgrounds are making in your area. Arming yourself with that information is a useful tool when deciding on a number that makes sense for you.
STICK TO YOUR NUMBER
Now that you’re equipped with your role’s market value, it’s time to get specific. Be prepared with a number that you’re comfortable with, says Harkavy. And, most importantly, stay committed to it. A salary range gives employers an out — an option to give you an offer that falls toward the lower end of that spectrum. But with a specific dollar amount, they’re more likely to give you a final offer closer to the mark.
BACK IT UP WITH STATS
A sure way to prove you’re a good investment: show it. Whether it’s for a new role or a promotion, create a brag list of your accomplishments, skill set and career highlights to better help illustrate your value. Employers are gradually cluing into the notion that competitive pay is integral to securing skilled workers, but supporting your ask with how your work positively impacts the company’s bottom line may bolster your case.