The words ‘salary negotiation’ when interviewing at a new job or at discussions at an existing one, generates an icky feeling for most people. People feel guilty, awkward and frustrated to approach salary negotiations. So much so, that they are ready to forego the possibility of an increase to avoid the salary conversation.
There are several reasons why people fail and fear to negotiate:
- People fail to understand that negotiation does not mean that one party wins and the other party loses. There are ways to negotiate to ensure it is a win-win for both parties involved.
- They do not grasp their own worth. Low self-worth issues cause people to stay put and not negotiate their true worth.
- People are afraid to hear a NO and believe that negotiating will have other ramifications in the long run.
How to get over your fear of negotiating:
- The most common advice is to prepare. Key to preparing well is to step into your supervisor’s shoes as well to see what they can gain from the negotiation. In addition, look at market averages for your title and take stock of all that you have accomplished and bring to the table. Put all this together to make a case for yourself. See how you can create a mutual win.
- Think outside the salary box. Although you are technically trying to increase your pay, if the negotiation fails, look for alternatives. Increased work flexibility, more vacation, prized assignment are all other benefits that translate to increased pay.
- Gain vs Lose: Make a list of what you have to gain vs what you may possibly lose with the negotiation. For each item on the lose list, ask yourself how certain it is bound to happen. When you weigh the possibilities of what you may gain vs the possibilities of losing due to unfounded fears, it will help you allay your fears.
Strategies to use when asked for current salary:
These are applicable at a new job interview..
- Remind the person asking you that the responsibilities you handle currently may be completely different from what will be asked of you and the salary is directly tied to those responsibilities. If the person insists, give them a range and emphasize again that it depends on what your responsibilities are, not just the job title.
- Ask the person what is budgeted for the role. Most people will give you a range and you can clearly say that it is not in the range that you are looking for now if that is the case.
- Answer the question with desired salary instead. If you are able to kill the interview(meaning doing a great job at the interview) before the salary question is asked, you can confidently tell them that based on the value you bring to the table and the results that you can help them achieve, you are expecting $X. This may feel like averting the topic, but remember that you are entitled to do so.
Have you negotiated your salary? What strategies have you employed?
Good article Gia.
I agree with the importance of preparing for this phase well in advance. The more you prepare, the less nervous you feel.
No matter how many times I have done this in my career, this phase of the job search always makes me nervous. However, I am glad I go through the process. It feels good when all is said and done.