How To Negotiate Salary

How To Negotiate Salary There are people in the world who hire lawyers to negotiate higher salaries for them, and then there are people like me who ask those lawyers to share their top tips on getting a better deal. At PowerToFly, we sat down with Nicole Page, Partner at Reavis Page Jump LLP, for a Lunch and Learn where she shared how shes raised countless salaries for her clients. Nicole has a large female clientele and was offering advice for all genders, but during the Lunch and Learn, she focused the conversation on how and why women should work on their negotiation skills. If youre a PowerToFly VIP, you can re-watch the entire talk here.1. Make A Wish List Nicole Page The first and main thing that I tell anybody whos coming to me and saying theyve got a new job offer, or theyre thinking of transitioning to a new position, is to make a wish list of everything that they want out of their next opportunity. This really helps you focus on the things that are really important to you. It also just solidifies what youre going to be asking for - it helps you get clarity.2. Rehearse And Prep For The NegotiationNP I would spend a fair amount of time preparing for the negotiation, you almost want to study for a negotiation like you would study for a test. Ask as many people in your industry what their experiences are, and just keep practicing what youre going to say. Youre going to be nervous, and probably anxious - practicing out loud can help you be as prepared as you possibly can be.3. Research Salary Ranges and Ask For MoreNP Without knowing the salary range of the position, youre negotiating in a vacuum. Knowledge is power, as they say, and I encourage people to network with other people in their industry and find out what theyre being paid. I know its not easy, but the only way to truly validate a salary range is to start asking what your colleagues and peers are making. After youve done your research and found out what the market rate is, you are going to think about the number that you want, and youre going to ask for more than that. Im not saying youre going to double that, but generally, when youre negotiating, the idea is to make some sort of compromise. You want to be able to go down a little, and let them come up - meet them in the middle. 4. Ask In Personnotlage EmailNP I think while youre in the process of negotiation, its not a bad idea to do it in conversation. Its a lot easier for someone to say no in an email, but in person, youre able to advocate for yourself and may be able to do some convincing. You also want to identify your leverage in any negotiation - that will help you decide what youre going to counter with, or if youre going to counter at all.5. Be Clear, Confident And Direct About Your AskNP Its very important to be clear, and not wishy-washy in a salary negotiation. If you want something, youve got to be very direct about it. You cannot assume that someones going to know what you mean. They wont know what you mean, and in fact, theyre disincentivized to know what you mean because the employer is essentially giving you a salary offer theyre hoping youre going to accept. They dont want to pay you more if they dont have to. Im not saying this to cast dispersions on employersthis is just geschftlicher umgang and how business works. If somebody can pay you less to do a job, they will because its more profitable for them. So, you have to be direct, and you have to be comfortable asking for a higher salary.6. Be Self-PromotingNP You must constantly remind your employer how valuable and how great you are, not just in times of negotiation. Be self-promotingyoure just undercutting yourself if youre not, and many women feel that in doing so they come across as bragging, and thats just not true. Every time you do something good, figure out a way to let your employer and your boss know. Not in an obnoxious way, but just be creative about it. Dont assume that anybodys watching or acknowledging or cares, ex cept for you. You have to look out for yourself all the time.7. Make Sure To Have Your Next Ask ReadyNP You might go into a salary negotiation and say, I want x more dollars than youve offered. And the employer might say, Well, we just cant do that. You always want to have your next ask in line. What I mean by that is that in response to the employer, you could reply, Well, if you cant give me the salary I want, then I need you to give me a better title. So, you want to have a step-by-step guide on your list and in your brain as you go into the negotiation of what youre going to say if they say no to an ask. Refer back to step one - make that list8. Remember, Its NOT A Confrontation - Its a Precedent For YourselfNP Nobody likes a confrontation, and if you go into a negotiation thinking it is, youre just going to increase your own anxiety level. A negotiation is really just a conversation youre engaging in while being protective of yourself and your needs. Studies have shown that 5% of women and 60% of men engage in salary negotiations. This means that from the very beginning of your career, you are setting a precedent for yourself and what you deserve. Setting a precedent may not always mean salary, this could be a sign-on bonus, vacation time, or even general compensation throughout your time at the company. The first offer a company gives you, most of the time, is not their best and final offer. This is your opportunity to say that you want more or you want more of something - stay calm, and set a precedent.9. If You Need Help, Find An AttorneyNP There are a few reasons why people consult an attorney to help with the negotiation process. First, negotiating is hard, and at the end of the day, some people are just really uncomfortable doing so. If youre one of those people and have the resources, it really is so much easier to have an unbiased party negotiating for you.Second, from experience, I have a lot of information about what other people in their fields are making. That kind of information is really valuable because it helps the person see if their salary is in line with the market or if theyre really being underpaid. In both cases, Im completely subterranean. Ill work out the whole negotiation strategy and the counter-offer to the employment proposal, and their employer never even knows that they ever hired an attorney. Its almost like just having a counsel and coach to help you structure it.10. Ultimately, It Might Be Uncomfortable, But Just AskNP I think it may also help everyone to know that men are asking. The men are asking for raises, and theyre getting them - theres no reason for women not to ask too. At the end of the day, if you want to get ahead, you have to put yourself out there - the only way to get what you want is to ask. Aki Merced