Unlock the secrets to getting the salary you deserve! Our guide spills the beans on what recruiters don’t want you to know about negotiation.
Hey there,
Ever feel like recruiters have the upper hand when it comes to salary talks? You’re not wrong. But there’s a way to level the playing field.
We’ve got the ultimate cheat sheet to salary negotiation, packed with insights recruiters would rather you didn’t know. In this newsletter, you’ll learn:
- Why you should ALWAYS research typical salaries before an interview
- How to use interview questions to your advantage (and get the info you need)
- The golden rule of salary negotiation (and it’s not what you think!)
- How to politely avoid disclosing your current salary
- And more!
Knowing your worth is key to getting what you deserve. Don’t stay in the dark!
1. Research Salaries Before You Interview
Before stepping into any interview, equip yourself with knowledge about typical salaries for the position, industry, and organization. This preparation will position you as informed and proactive.
For example, if you’re interviewing for a marketing manager role, research what similar positions pay in your city and industry. Websites like Payscale and Glassdoor can provide valuable insights. Understanding the salary range helps you set realistic expectations and strengthens your negotiating position.
2. Mine for Intel During Interviews
Interviews aren’t just for answering questions. Use them to gather valuable information about the role and the company. Use this intel to leverage your salary discussions later.
Ask strategic questions like, “What are the biggest challenges facing this department?” or “Can you tell me more about the team I’ll be working with?” This shows your interest and helps you understand the company’s needs. You can then align your value proposition with these needs during salary discussions.
3. Communicate Your Value Unequivocally
Highlight your accomplishments and qualifications clearly in your resume and interviews. Ensure your unique value proposition is well understood and appreciated.
For instance, instead of vaguely stating, “I increased sales,” say, “I implemented a new sales strategy that boosted our quarterly revenue by 25%.” Specific, quantifiable achievements make a stronger case for your value and justify a higher salary.
4. Don’t Disclose Your Current Salary
If asked about your current salary during a job search, it’s best to avoid sharing this information. Your current salary might not reflect your worth and could limit your negotiating power.
You can deflect this question by saying, “I’m looking for a salary that reflects the responsibilities of this position and my experience.” This approach focuses on the value you bring to the new role rather than your past compensation.
5. Avoid Being the First to Mention a Salary Figure
Let the employer make the first offer. Use their initial figure as a baseline to negotiate upwards rather than starting too low.
When prompted to provide your salary expectations, you can respond, “I’m looking for a competitive offer reflecting my skills and experience. What range do you have in mind for this role?” This puts the ball in their court and prevents you from underselling yourself.
6. Stay in the Driver’s Seat
Negotiations can be uncomfortable but stay positive and in control. Frame your requests positively, and keep the conversation focused on mutual benefits.
For example, you might say, “Based on my research and the value I bring, I’m looking for a salary in the range of $A to $Z. I believe this is fair given my experience and the responsibilities of this role.” This shows confidence and keeps the discussion focused on finding a mutually beneficial agreement.
7. Read Between the Lines
Analyze any initial salary offer to determine what it reveals about the employer’s perception of your value and potential room for negotiation.
If the initial offer seems low, ask for clarification: “Can you explain how you arrived at this figure?” This can provide insights into the employer’s budget and how much flexibility there might be. It also allows you to highlight any additional skills or experiences that justify a higher salary.
8. Understand That Salary Is Only One Part
Consider other benefits and perks that might be available. Sometimes, these can add important value to your overall compensation package.
Look at health benefits, retirement plans, stock options, bonuses, professional development opportunities, and work-life balance perks like remote work or flexible hours. A generous benefits package might offset a slightly lower salary, making the overall offer more attractive.
9. What if Their Number Is No Good?
Use an undesirable offer to gauge flexibility. Ask for specifics on meeting their requirements to justify a higher salary.
You might say, “I was expecting a higher figure based on my research and experience. Can you share what criteria were used for this offer?” This shows that you’re open to discussion and willing to understand their perspective while still advocating for fair compensation.
10. No Offer Is Better Than a Bad Deal
Never accept a bad offer out of desperation. It’s better to walk away and wait for a position that values your worth.
Remember, accepting a low offer can set a precedent for future earnings and impact your career trajectory. If the offer doesn’t meet your expectations and there’s no room for negotiation, it’s okay to decline and continue your job search respectfully.
We hope these tips empower you to negotiate confidently and secure your desired salary. Remember, preparation and strategy are your best tools in salary negotiations.
Ready to Level Up Your Career?
Here are some tools to aid you:
Don’t leave money on the table. Negotiate your way to the salary you deserve!
Cheers,
The SimplVest Team
Interested in a pretty cool story? Check out Adewale Rabiu‘s unusual venture of turning a love for Agege bread into a multi-million dollar business with a loyal following.
