When engaging in new job salary negotiation, you MUST keep four things in mind:
1. You might be working for the person you're interviewing/negotiating with
The last thing your new "boss" is going to want is to feel burned by you in a salary negotiation. The key to appropriately winning a new job salary negotiation is to make it seem like a win-win for both your new company and for you. Whether it's your educational background, work experience, or network, each of these can be used to make your new manager look good. Offer that up in your negotiation and you'll find you've created an ally rather than an adversary.
2. The only insight they have into your success at previous jobs is what you tell them, so make it GREAT
You are GREAT! So let everyone know it. You don't have to embellish your experience to be the exact person that a company needs. Just match your background with their job needs AND preferences. Communicate your greatness through your cover letter, resume, interview, and negotiation by staying on your story. Know what you want to say backwards and forwards so that nothing is off message. Once you have done that, you've ensured that you'll be in a strong negotiating position.
Your physical appearance matters, too. Hate to say it but there's data (Brookings Institute) that your weight can impact your salary potential. Like we said before, no subject is taboo here, so learn about what you can do to maximize your appearance in an interview because people relate your appearance to your success previously.
3. They want to pay you the lowest premium possible over your current salary to get you to accept the offer
Employers know that they have to pay a premium to get you to quit your current job (unless you're currently unemployed--bad negotiating position!). That doesn't mean they want to break the bank on you. They want to pay you the average salary for the position. Negotiating is possible because of this premium concept. Go for it! Don't be shy. Ask for what you want, but do so with all of the tools we talk about here. Be prepared, set a goal, and have your justification ready. You will win!
Check out this video where I got a 35% salary increase in a new job salary negotiation!
You can get a springraise like this if you prepare to win!
4. It's cheaper for employers to hire you with your requested salary increase than to keep recruiting other candidates
We've said this before, and you'll see it again. Companies want to hire people to whom they give offers. It's a fact. So once you have an offer, you're in a stronger negotiating position by default! You never want to seem greedy, but with your proper justification, you can convince a company that you're worth it. If companies have to pay another $1,000 for each interview that they get, then your request for an additional $5,000 in salary is a better use of cash than hoping that they will get one person as good as you within the next five interviews. Do the math. It works in your favor.
Now, this point is also important if you're a woman. Most of the salary surveys out there indicate women get paid less than men for the same job. Sad, but true. We can help you change that. In fact, according to one survey, women are just as good as men, if not better, at salary negotiation. Women, make sure in your preparation that you have a solid expectation of what you should be paid and go for it. The same advice goes for men, of course, but based on statistics, the initial offer will be lower for women than for men.
Get The Information You Need To Win!
If you don't know where you stand relative to the competition out there for a job, then you can't maximize your salary potential. Understanding how to amass the right information is the key to success when negotiation salary in a new job situation. Our ebook gives you real-world examples of how to maximize your new job salary. I promise it's worth it and will change how you approach every career event you ever have. Check it out!
So be ready for your new job salary negotiation by gathering as much information as possible and creating a win-win for you, your new company, and your potential new manager. Once you've achieved that, you will win!
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