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Negotiating Your Salary
So you just finished a high powered interview in Calgary and you are certain you will be offered the job. How do you negotiate your salary? Can you negotiate your salary? You are on the verge of completing a very successful first year on the job and your review is due. Is it proper to negotiate a raise or new salary? What kind of situation do you need or what tools do you need in order to negotiate your salary?
Tools for Negotiation of Salary
- Research: Do your homework before you even think about negotiating. Know what the job you are being offered pays across the country and in your specific market. Know the difference between what entry level pays, some experience and a lot of experience pays. The more you know, the more leverage you will have in negotiations.
- Leverage: So what is leverage and what will it do for you in salary negotiations? Leverage might be equated with power or with influence. It is not quite either. It is usually knowledge about the business or some aspect of the business. It might also be who you know in relation to the company you are negotiating.
- Volunteer or Hobby Experience: Don’t forget to include your volunteer or hobby experience in your resume for negotiating your salary. If your hobby or your volunteer experience is directly related to the job you have been offered, it can be worth thousands of dollars. This is particularly true if your actual job experience in the field you have an offer is very little or none at all. Use your volunteer or hobby experience to gain leverage.
Having basic negotiation skills, even knowing what those skills are, can go a long way toward getting you the salary you want.
- Listen: This is a basic skill in any negotiation or compromise. It is equally true in a salary negotiation. You might think that getting what you want in a starting salary requires a lot of talking in order to accomplish our next point – persuasion. However, listening to the position of the hiring manager, to his opportunities and his constraints can help you to persuade him and remain respectful of the limitations.
- Persuasion: Is one of the most important negotiation skills. It is important to remain positive and sensitive to the hiring manager while you attempt to persuade them to give you a higher salary to start with.
- In addition to the basic research you have done on what the job should pay and what your specific salary need is, keep in mind that on average you should ask for 10% more than you are offered.
- Maintain poise: Don’t reveal to the employer how much you want. Let them start with what they want to offer. You might be pleasantly surprised, but will still want to ask for more.
- Know when to accept the offer: Don’t let the job slip away because you continue to push for a higher salary. Listen to the employer so you can know when he is reaching his limits and you should accept the current offer.
If you use only a few of these tips, you should be able to add hundreds if not thousands of dollars to your starting salary.