Employees who are good salary negotiators frequently out-earn their colleagues with similar skills and experience significantly, simply because they can negotiate their pay skillfully.
There are specific actions that these individuals take in order to negotiate their salary successfully, and you can achieve similar outcomes by implementing the same actions. Here are the most relevant ones, which will permit you to earn the best salary possible.
1. Know the market.
Knowledge is power, and this is particularly true in your job. It’s key to have a good grasp of the market in your job field. This means understanding how much employees generally pay a person with your skills and expertise, and how high your salary can reasonably go if you negotiate well.
Thus, when you’ll ask your employee for a certain it won’t be so low that you’re selling yourself short or so high that your request will seem ridiculous and thus you’ll shoot yourself in the foot.
2. Justify the requested salary with results.
An employee will usually be willing to give you the salary you request even if it’s above what they initially wanted to pay you, provided that you can convince them that you deserve that salary and giving it to you is a good investment for them.
And the best way to show this to an employer is by proving them you can generate impressive results, which warrant the salary you demand. To do this, you have to rely on results and experiences from your past, which you have to present clearly and then imply based on them future results you’ll create.
3. Don’t be afraid to ask for a high salary.
As a coach, I’ve helped many people get salaries that seemed quite high for them at first, although not ridiculously high. And the most important part was the fact they had the courage to ask for that salary. They made a request that was on the upper range of salaries for their experience and skills level, and they got it.
If you make a salary request in a confident and relaxed manner, even if the salary you’ve requested is quite high, noticing your poise, the employer will likely think that you’re entitled to such a salary. Thus, they will be likely to offer it to you.
4. Be willing to walk away.
The employee with the most leverage in income negotiation is the employee who is willing to walk away from the table if they feel the salary the employer is ready to give them doesn’t really suit their career prowess. The employee who is willing to pass up a job offer or perhaps quit a job if the salary is not right.
This wiliness to walk away poses a great threat for a stingy employer, because they can lose you. And if they truly don’t want that, this will encourage them to comply with your salary request. Even if it’s high, as long as they know you deserve it, it’s better for them to give you the salary you demand than to lose you.
Put these ideas into practice and chances are that you’ll soon be earning considerably more than you’re earning today, and have the best salary possible for your job.
Keep in mind that in salary negotiation it’s essential to sometimes not care what people think of you, as well as to have a good discernment of how to play hard to get. These are important emotional and communication skills to master in order to be a high-income employee.