Salary negotiation is not just a matter of interest to employees, but employers and HR as well. If you are an employee who seeks a better package for your technology job, a couple of negotiation tactics could boost your take-home pay closer to a figure you deserve.
Tactic 1: Be reasonable
You can ask for the moon and the stars (or a salary that, by all standards, is more than acceptable). But in such cases, you can be sure that your request would get turned down. Instead, do a bit of homework and see what your skills are worth.
Take into account factors like where your job is located (for example, a position in California will pay differently than the same post in Portland), organizational priorities (for example, how important are you to the company), job requirements, and the competencies you possess. If you’re seeking a promotion, then make sure that your skills are up-to-date.
Also, take into account the current position of the company – is it amidst a growth phase, or is it trying to get more work done with less staff?
Tactic 2: Demonstrate your worth
We often expect the organization to know our value because it’s “so obvious.” The truth is that what’s clear to us is usually not as evident to the HR and management of your firm. Learn to state what’s most apparent to you. Quantify your worth – in other words, when you come to the negotiation, bring concrete examples of how your actions have helped the company and gained results.
Tactic 3: Use phrases that can help with negotiations
While there are no magic words that will get you a higher salary, some phrases can demonstrate certain values, like knowledge, congeniality, and confidence, that can get you better remuneration. Don’t think of your talk with Human Resources about your salary as a battle. Instead, see it for what it is – a conversation – and use these phrases in it.
“I am excited about the opportunity to work together with you and add value to the team.” – a great way to start a negotiation.
“Based on my research…” This opening line lets the company know that you are not asking for more than fair and that you’ve done your homework about how much companies are paying their employees in similar roles.
“Market.” When talking about your research on the appropriate salary for you, don’t forget to mention your value in the job market.
“Value.” This refers to what you’re worth to the company and what you bring to the table and how you increase the company’s revenue or margins. For example, if you can prove that your work has brought in $100,000 in profits, then giving you a $5,000 raise would sound reasonable to your employer.
“I would prefer not to leave.” This sentence can be a defense strategy if your salary is meager. It lets your employer know why you want a hike, how much you want, and that hiking up your wage is a win-win for both you and the organization.
We know that there are a number of strategies out there, but implementing these tips will certainly help with your salary negotiation when that time comes. Finally, always remember before you accept an offer, ask for time to think about the offer and take a couple of days to decide if you’re happy with it. This way you can make the best, and most informed decision for you.