8 Ways To Win Your Salary Negotiation

It’s all coming together. 

You have been at your current position for a while now. You’ve eagerly taken on new clients and responsibilities and have all of the KPIs to show for it. You have the inside scoop (or can see the numbers up front) that your company is in good financial health. You’re up for a performance review and you just know you are going to kill it. Or maybe you’ve picked up some new skills along the way and are ready to expand your offering. 

You just know you are worth your weight in gold. Or, a larger salary.

There’s just one thing standing in your way…. The big ask. 

Negotiating a new salary is never easy. But when you are organized, calm and collected, you’ll be able to answer any question that comes your way and position yourself for success. 

Here are 8 ways you can prepare for your negotiation.

1. Know your worth and don’t accept anything less.

You have skills that set you apart and qualify you for the position. You probably went to school for this and still have the loans to prove it! To find out what salary range you should ask for, research what others in your position with your skill set are getting paid. You can then increase or decrease that amount based on how you stack up. When you understand what your salary range is for the role you are applying for in the first interview, you can save a ton of time (and stress) during the process. You’ll know from the beginning stages if a position is not in alignment with your financial expectations and your worth.

Use platforms like Glassdoor, Indeed, Salary.com, and Payscale to research what others in your industry and position are getting offered. 

2. Practice makes perfect.

Ask a friend or mentor (especially if they have some business experience) to practice a salary negotiation conversation with you. You may think you have it all figured out in your head but answering questions you may have not thought about might help you tremendously in the long run. You don’t want to get stumped by a good question or fumble around trying to figure out the answer later. 

3. Communicating your negotiation.

This all depends on your work situation. Are you fully remote, hybrid, or in the office full time?  If you’re in the office even occasionally, find a time when your manager is there and ask for a meeting in person. If you’re remote or hybrid, the next best option is a Zoom call. Email is not the way to go here. 

4. Think hard about that first offer (or counter-offer).

Most hiring managers will give you some time to think about their proposed offer. Use that time to reflect on the total offer (salary, benefits, any additional perks) and be sure not to jump the gun. If you feel like their offer or counter-offer still doesn’t match your worth, be sure you are ready to tell them why. 

5. How to answer, “Why do you feel like you deserve more money?”

You’ll want to give background information (how long you’ve worked in this field), introduce any new responsibilities you’ve acquired, and how you’re actively contributing to the growth of the company or team. End strong with solid facts, like how you’ve expanded your skills and KPIs you’ve acquired. Share how you’re excited to continue growing with the company under the right terms. 

6. Benefits that outweigh a higher salary.

Our world has totally changed in the last few years. What we needed back in 2019, may not be what we need now. Yes, money is still a necessity, but I think we’ve all realized that there may be some instances where time or flexibility outweighs that. For example, this position may offer you a flexible work schedule where you can practice better work/life balance. Define what’s important to you when you’re thinking about the “full package”. 

7. Get it all in writing.

Ask for written documentation when you and the hiring manager settle on compensation. This includes any non-salary components of the package like paid time off, health insurance, retirement plan matching, moving expenses and bonuses. If there’s ever an error or something just isn’t clear, you can refer back to your written agreement easily. 

8. Planning your next move if an increase isn’t offered.

I hope this never happens but if that is the case, be sure to ask how they came to their decision and try to take that feedback constructively. If you’ve done your homework and have your accomplishments and KPIs ready, you may be able to defensively counter any of their concerns or questions. If that still doesn’t work, you’ll have to consider the pros and cons of the position and plan your next move according to what makes the most sense for you. 

Salary negotiations can be a little overwhelming for everyone. If you’ve done your homework and walk in (or sign on) with your confidence and accomplishments all in line, it’ll be hard to say no to a power player like yourself. 

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