Here is One Basic Rule to follow During a Salary negotiation
Whether you’re new to job-hunting or a seasoned pro, whether you love the art of salary negotiation or dread it, the truth is that knowing salary negotiation tactics — and avoiding salary negotiation landmines — are key to obtaining the job offer you seek and deserve.
One of the worst mistake people make during a salary negotiation or a salary interview when asked about their salary expectation is to base their salary rise or expectation on the basis of their “needs”.
As much as it’s important to avoid sounding rude or arrogant during any negotiation, its also very unprofessional especially in a salary negotiation to think that you should be paid basing on your needs.
The statement or phrase “I need…” is the worst statement you can make during a wage negotiation.
“By saying you ‘need’ money for personal reasons, you are, by definition, refuting the concept that your contributions are worthy of a higher salary,”
Remember, you’re asking for fair consideration, not a personal favor. Talking about your “needs” may leave the other party doubting both your value and financial competence.
Ryan Kahn, a career coach, founder of The Hired Group, and author of “Hired! The Guide for the Recent Grad,” agrees.
“A negotiation is not won based on what you need — it’s based off of the value you bring,” Kahn says. “So, for example, you don’t want to ask for a salary increase because of the costs of your bills, you want to give them specific evidence of the added experience you bring to the position. This will help them understand the value you bring to the role and justifies them paying you more.”
Instead of proclaiming neediness, Taylor says that individuals should address the following points in any wage negotiation.
- How your work has increasingly contributed to department or company goals
- How your responsibilities have increased significantly
- What concrete achievements you have accomplished
- The market rate for your type of position
“Ideally, a manager wants to feel that you’ve already been doing the work that warrants a higher salary for some period of time … it should not be an aspirational request,” Taylor says.
You need to take note that “Savvy interviewers and bosses don’t think in terms of being charitable. Yes, they may be sympathetic to your cause, however, they must evaluate starting salaries and increases based on business criteria.”