Why Negotiate? Your Guide to A Higher Salary

As I mentioned in the ABOUT section, transitioning into a corporate position after college was anything but easy. The interview for my current role occurred two days after  I landed back in the United States from Thailand.

During the interview we discussed my compensation. I firmly stated that although I knew what the position was offering, I felt “x” amount more would be a sufficient compensation for the value I brought. I am not sure if it was the extreme exhaustion caused by jet lag or my basic lack of professional interview experience, but my response certainly seemed to shock him.

Although my tactics for negotiating were elementary, I received the job offer one week later for almost what I initially asked for.

For those of you that don’t think negotiating is worth risking your reputation over, consider this:

“If you think of a $100,000 salary, and one person negotiates and gets $107,000, and the other doesn’t—what’s the cost of that? In a simple-minded way, some people say, “Is $7,000 really worth risking my reputation over?” And I agree, $7,000 may not be worth your reputation.

But that’s not the correct analysis, because that $7,000 is compounded. If you and your counterpart who negotiated are treated identically by the company—you are given the same raises and promotions—35 years later, you will have to work eight more years to be as wealthy as your counterpart at retirement. Now, the question is: $7,000 may not be worth the risk, but how about eight years of your life?” – themuse

ASSESS

Before negotiating for a higher salary, first consider whether the job you are applying for has a fixed pay rate. These jobs include:

  • Retail
  • Hospitality
  • Entry-Level Positions
  • Union Jobs

RESEARCH

After assessing whether the position’s compensation is negotiable, do your background research! Conduct as much background research on the company as possible in order to determine if the salary offered to you is fair and within their standard guidelines. One of my favorite tools to use is Glassdoor. Through this website you are able to look at a companies reviews, ratings and salaries. It is equally as important to look up the company’s competitors and the salary’s of similar positions elsewhere.

Know the market you are in so you can better market yourself.

NEGOTIATE

Determine the salary range you are looking for ahead of time. When packaging your proposal, ensure your counteroffer is not only fair, but helps both parties reach a better solution.  In this instance it is important to know your worth and what you bring to the table. The more informed you are about the company’s needs and your ability to meet those needs, the smoother the negotiations will go.

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2 Comments

  1. You are absolutely correct and on top of that remember you must treat yourself like a company and know your worth and deliver on it.
    Companies are in business to make money and so are you. You both are trying to get the most out of each other. They want to pay you as little so they can keep more of there cash profit for themselves (executive pay and bonus) and you are trying to get as much cash as you can from them for making them that money. Never believe your manager or someone higher up is going to see your potential and do right by you. Most will NOT or can’t because they really don’t have that power.
    You are a brand and business so treat yourself as such when negotiating your worth with a company or person.

    1. Thank you so much for your input!

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