The Rules of Salary Negotiation
Failing to negotiate your salary can cost you hundreds of thousands over your career. Yet, many professionals – especially women – avoid it. Negotiation is a skill, not a risk, and it can secure the pay and benefits you deserve.
1. Research Your Market Value
Know your worth before negotiating. Go beyond online averages – speak with industry peers, current or former employees, and recruiters to understand realistic salary ranges.
2. Build Your Network for Insight
Leverage professional contacts to get inside information on pay and company culture. Seek advice from both men and women, and senior professionals who model assertive negotiation.
3. Tie Your Ask to Your Value
Justify your salary request with your skills, experience, and achievements. Be ready to defend your figure with examples while avoiding unrealistic numbers.
4. Set Your Reservation Price
Decide your minimum acceptable salary (+10%) before entering negotiations. This prevents you from accepting too little under pressure.
5. Identify Deal Breakers
Know what matters most to you – salary, benefits, flexibility – and be ready to negotiate alternatives like sign-on bonuses, performance-based raises, or extra perks.
6. Negotiate Beyond Salary
Think total compensation: remote work, relocation support, childcare, home office budget, training, gym membership, or meal vouchers.
7. Keep the Door Open
Avoid ultimatums. Instead, use phrases like, “I’m sure we can find an agreement that works for both sides.”
8. Negotiate When Stakes Are Highest
Show value first, then negotiate. Link your request to your strongest, most in-demand skill.
9. Partner with HR
View negotiation as collaboration, not conflict. Most recruiters expect you to negotiate and respect the skill.
10. Replace Fear with Confidence
Negotiation isn’t greed – it’s professionalism. Employers expect it.
11. Avoid Hard Ultimatums
Having other offers is leverage, but don’t issue threats.
12. Take Time Before Deciding
It’s fine to request time to review an offer before accepting or declining.
13. Practice Saying No
If an offer isn’t right, be ready to walk away confidently.
Key Takeaways:
- Research and network to determine your true market value.
- Set your minimum acceptable salary in advance.
- Negotiate total compensation, not just base pay.
- Keep the tone positive and collaborative.
- Say no when necessary – the right fit is worth waiting for.