5 Salary Negotiation Tips that Will Help You Secure the Bag
Dear young professionals, I know most of you can’t wait to start earning 6 to 7 figures in salary. I can feel your disappointment hearing that Hiring Manager say “the salary is just N60, 000″
. In your mind, I can also feel you calmly fuming, ready to lash and retort “60k kee you there” as you wait for him to finish so that you can reject the offer and walk straight out of the room.
I want to let you understand that there is nothing bad with desiring to earn a 6 or 7 figure. In fact, it is everyone’s desire to secure the bag and smile home each month. And as a young professional who has got the right skills, values, solution, and experience, earning 6 to 7 figures in salary is not beyond your reach.
However, you should be able to smartly negotiate for the pay you desire. Learn to negotiate your salary. No one can do that on your behalf! Presently, the ability to effectively and smartly negotiate is one of the highly in-demand skills every millennial should possess. Your area of expertise doesn’t matter.
At every point in our lives, we are all negotiating for one thing or another. If we are not negotiating for a better life, opportunity, deal, share, life partner, favorable conditions, we are negotiating for an opportunity to prove ourselves worthy and competent. This is why everyone, especially millennials, needs to learn and elevate this all-important skill.
Without further ado, let’s dive straight to 5 salary negotiation tips that will help elevate your negotiation skills and as well help you secure the bag without stress and regrets:
Know your worth
Knowing your worth goes a long way in helping you effortlessly negotiate for that desired take-home pay without selling yourself short. The first step to this, among so many others, is finding how much your skills, experiences, and solutions are worth in the market. It is possible to be so talented, skilled and experienced and yet not know your worth.
Therefore, it is your duty to do your assignment. Make your research on salary in your industry long before the negotiation. This way, you are prepared and securing the salary you desire won’t be difficult.
Know what your take-home pay is
Your take-home pay is simply the amount you are left with after taxes and contributions such as social security, pension, payee and insurance have been deducted from your salary. Therefore, it is only wise when considering a pay offer to do a rough calculation on what your take-home pay will be, leveraging on the information and data gathered while doing your research. Your take-home pay should be able to take care of you and pay your bills.
Be patient! Wait for the appropriate time
I know you’re eager to know how much they are willing to pay, display your negotiation skill and secure the bag. I know you can’t wait to have your name assigned to a 5, 6 or 7 figure status. However, I also know you don’t want to ‘pour sand inside your own garri’. Therefore, you have got to be patient and do not bring up compensation issues until you are made a pay offer. Patience is a virtue.
Do not be the first to throw out a number
Most individuals have ended up selling themselves short of what they are actually worth by throwing out a figure and have, in the long run, found out that it was way below what was meant for such position. I know you wouldn’t like to be like that right? Then do not be the first to throw out a figure. If you are asked what you would love to be paid, you can simply go ahead to give a salary range based on your initial research.
I know HR managers can be smart; they have a way of putting you in a box and making you spill your tea. But that’s why you have to elevate your negotiation game to enable you play along and get back the ball to their court or yours as the case may be.
Take your time and know when to say ‘No’
After an offer is made, you do not need to accept or reject it outrightly. You can simply decide to think over it and get back to them. Sometimes, all you need to land a better offer could just be a “no”, forcing the other party to realize you know your worth and that you aren’t ready to settle. However, if you are okay with the position and what the offer entails, delaying over life-changing opportunities or saying an outright “no” could be detrimental.
I hope this helps. Now, go and secure the bag and don’t forget to bring your tithe. Cheers.