For many people, salary is important not only for financial reasons but also for self-esteem. While even small variations in pay can add up to large differences in lifestyle and lifetime earnings, most of us enter salary negotiations with no preparation and hope for the best.
In his book Salary Tutor: Learn the Salary Negotiation Secrets No One Ever Taught You, author Jim Hopkinson details some ways to negotiate the salary you desire and get the raise you deserve. Here are just three tips you'll find in this popular and helpful guide:
Mindset and money. Salary negotiations are not adversarial. Your current or potential employer has money to offer, and you bring skills, expertise and achievements to the table in exchange. Be friendly yet assertive on the topic. Demonstrate your value with your accomplishments and ways you've cut costs, boosted efficiency or brought in customers.
Research your range. Having an objective measurement of what you're worth shows you've done your homework and know what you can demand in the marketplace based on your skill set. Research online at the Department of Labor Statistics, Glassdoor.com and Salary.com. If you have human resources or peer contacts in similar positions or industries, asking around to verify your numbers can also help.
The "killer" question. If you're seeking a job and want to win at salary negotiation, never show your cards first. If asked salary requirements first, reply: "You're more informed than I am on that subject. What is your typical compensation for employees with comparable roles and responsibilities?" If you must give a number first, always back it up with research.
Source: 99U, Amazon