6 Steps to Negotiating Your Salary Like a Boss

Think back to the last job you got. What happened when they offered you the position?

 

If you took the salary offered, don’t feel bad. Approximately 60% of the population does (with the numbers higher if you happen to be a woman). What most people don’t realize is just how much leeway there can be in the amount they’re offered. In fact, most people who put themselves out there will actually gain a higher salary than initially offered. Some statistics state as much as $5,000 more a year!

 

With facts like that, learning how to negotiate a higher salary becomes crucial. Try these steps the next time you’re in this position, whether taking a new job or trying for a higher raise during your annual review.

 

Know the Base Pay Going In

 

If you’re not sure how much the position is typically worth, how are you going to know if you’re being offered a fair salary? Do online research before you even go into the interview. Have some idea what is typically paid for people in this position. 

 

Consider the Extras

 

It might be you’re not looking for more money so much as you’d like to see other bonuses such as extra days off, a better insurance package, or other benefits. Decide before you even start negotiations what perks are essential to you.

 

Try Outside Help

 

If you’re looking for a new employer, using a recruiter or headhunter might help you to gain a better salary range than you would on your own. They can also give you an idea of your value if you’re looking to renegotiate your salary where you are now.

 

What About Your Past Performances?

 

When talking salary, discussing your accomplishments reminds the potential employer of your value. This can be tricky to navigate, as most people don’t want to sound like they’re boasting. On the other hand, too much modesty won’t get you where you want to go either. Aim for somewhere in the middle for the best success.

 

Play Hardball

 

If you feel like you’re being severely undervalued, there comes a time when you need to stick up for yourself. Let the employer know you won’t do it for less than [insert specific amount you can live with.] If your skillset is particularly valuable, you’d be surprised at how often this works, or at least opens the door for further negotiation.

 

Use the Bottom Line

 

How have you saved the company money in the past, or increased sales? Money talks. Details like this go a long way toward reminding the employer of your value.

 

6 Tactics to Negotiate the Best Deal Possible

Nothing is absolute. When it comes to getting what you want, whether it’s the deal you’re trying to close or the car you’re buying, nothing is set in stone. You really can negotiate just about everything. 

 

Think about that a minute. You don’t have to pay the price listed whether you’re in a store shopping or talking to a vendor at a flea market. In fact, with the right tactics, you can negotiate the best deal possible, no matter where you are. 

Here are some tips to get you started:

 

Never Bother the Salesperson

 

To negotiate, you need to start with whoever is at the top. This means asking to speak to the store owner or the manager. The person in charge is the only one with the power to give you what you want. There’s no point in wasting time with anyone who doesn’t have the power to make a decision.

 

Put on Your Game Face

 

If you’re gushing about the product, you’ve already lost any power you might have had in the negotiation. A good poker face is essential. Never let on just how important something is to you.

 

Let Them Bid First

 

Negotiating is a game of back and forth. The trick? Never be the one to make the first move. Let them offer the opening price before making your offer. Then once you’ve put in your bid, wait for them to respond with a counteroffer before bidding again. Why? If you make the first bid, you might inadvertently start at a higher price than they were considering. Also, by taking turns, you never wind-up bidding against yourself, a tactic guaranteed to end in failure.

 

Lighten Up

 

Laugh. Smile. Keep things from getting too serious. Good negotiation happens when everyone is relaxed and enjoying themselves. This also has the benefit of keeping you from appearing too serious. If they think you’re not interested, they might offer up a better deal.

 

Try Email

 

Negotiating through another medium such as email slows down the process considerably and gives you time to really think about what you’re doing. It also provides a detailed record of the entire negotiation, so everyone is clear on the expectations and what the parameters of the final deal are.

 

Find a Training Ground

 

Wanting to negotiate something big and important like the purchase of a house or car? Spend some time practicing the art of negotiation. Flea markets, garage sales, and farmer’s markets are all great places to hone your skills. While there, watch how other people do it for additional insight.

 

In the end, you’ll be amazed at just how easy it is to learn how to negotiate to get what you want. With a little practice, you’ll be surprised at just how far you can go! 

 

7 Tips for Negotiating a Raise During Your Annual Review

It’s that time again. Are you ready? Most people look at their annual review with about as much anticipation as one would a root canal. No one truly enjoys the recital of the year’s successes, or worse, the failures. 

 

The worst part? The part of the conversation where money becomes the focal point of the discussion. In fact, more people dread this aspect of the review so much that they’ll take whatever is offered by way of raise without so much as a murmur.

 

While you’re certainly being agreeable enough, did you know you might be leaving money on the table? In fact, your annual review is the perfect place to negotiate a raise, setting yourself up for a significant earnings increase.

 

Here’s how to do it:

 

Document Everything

 

Your preparation for this moment should have started in the days following your last annual review. If you’ve done your homework, you’ve kept a record of what work you’ve accomplished, and all projects you’ve been part of, along with a list of your personal contributions to each. Weren’t quite prepared enough? Sit down and recreate as much of this material as you can in the days leading up to your review (and remember to start documenting for next year immediately afterward).

 

Know the Numbers

 

How much are others in your position earning, keeping in mind your experience and what part of the country you live in? Don’t know? Find out online. Knowledge is power.

 

Keep Your Ear to the Ground

 

How are other people’s reviews going? Listen for word about whether the expected raises were more or less for this year. 

 

What is Your Dollar Amount?

 

Using the information you have now, have a figure in mind going into the meeting. What amount would you like to see for the coming year?

 

Hold Your Ground

 

Once you’re in the meeting, don’t be afraid to use the information you’ve brought to the table to make your case. No matter what, don’t be combative, belligerent, emotional, or otherwise negative in your approach. Simply state the facts and go from there.

 

Ask for a Plan

 

Still got a ‘no’? Talk to your employer about what needs to happen to gain the desired level of salary. Make a timeline and ask for another review somewhere down the road to revisit the issue after you’ve made those changes.

 

Make it Official

 

Once you have a plan in place (or better yet, a promise of a raise) make sure you have the details in writing. This doesn’t have to be some long official document. Even a quick memo sent to HR and your boss should suffice. Make sure to include any details that came out in the discussion.

 

7 Tips to Become a More Successful Negotiator

Who’s looking out for you?

 

In a world where getting what you want is entirely up to you, being a skilled negotiator is crucial to your success, whether you’re angling for a raise or trying to get an outstanding deal on a used car. Sadly, negotiation isn’t one of those skills we’re taught as children. The good news is, it’s never too late to learn how to be a more successful negotiator. You can start with these simple tips:

 

Do Your Research

 

Before you do anything else, you need to know the facts about what you’re negotiating for. If you think your job is worth a raise, first look up what the salary generally is for your position. If you’re looking at a used car, find out what other cars of that make and model typically go for. A little knowledge goes a long way.

 

Listen

 

A negotiation takes two people, both of whom generally want something. Start paying attention early on to what the other person is saying. Getting a feel for where they’re coming from will be to your advantage. 

 

Speak Up

 

Never be afraid to ask for what you want. The trick is to remember there’s a fine line between being assertive and aggressive. Be careful about how strong you’re coming on.

 

Take Your Time

 

The temptation is to close the deal quickly and to take what you can get. Here’s where you need to pull back a little. It’s okay to take time to think about the offer. You also will want to go over the terms and conditions carefully before making a final decision. 

 

Know When to Step Back

 

Remember, you can always walk out of the negotiation. Stick to your guns, especially when you know you’re in the right. When you’re willing to leave the table if you’re terms aren’t met, it shows you mean business.

 

No Weakness

 

The minute you start thinking of the other person as a bigger and stronger opponent, you’ve already lost. This is not the place to show weakness. Instead of worrying about your own shortcomings, concentrate on theirs. How can you use that information?

 

Remember the Give and Take

 

Don’t give up points unless you’re getting something in return. When you concede too much, you’re building up your opponent and setting a poor precedent for future negotiation.

 

Remember the trick is not to let things get personal. At the end of the day, if you knew what you wanted and feel like you looked out for yourself, and then you’ve come out a winner.

 

7 Ways to Negotiate a Lower Price on Anything

There are certain places where you’re almost expected to negotiate. No one goes into a car dealership expecting to pay the sticker price. Places like flea markets and rummage sales actually price things with the idea of negotiating built-in. But did you know you can negotiate a lower price on almost anything?

 

Read on to find out how. 

 

Figure Out the Details

 

When doing your homework, ask these four questions:

 

1) What’s the usual asking price?

2) Why is this person selling?

3) What is the seller cost? 

4) What are other people selling this for?

 

When you want to negotiate, having this kind of knowledge is power. Here’s where you find the vulnerabilities and figure out just how hard you can push. 

 

Make Them Speak First

 

When you’re ready to negotiate, don’t say anything until you get their asking price. It might be the figure in your head is higher than the number in theirs. Once you have this number, you now have something to work with as you make your counteroffer.

 

Bid Low…REALLY Low

 

Don’t look for the middle ground when making your counteroffer. Go much lower than you think you want to pay. The natural inclination is for the next person to make an offer by deciding a number between the two offered. By calculating this carefully, you’ll wind up paying either what you were hoping for, or if you’re fortunate, even less than you’d initially thought you would.

 

Figure Out the Limits

 

Did you do your homework? If so, you probably already have an idea on just how low the other person can go. They typically can’t drop below cost, no matter what. 

 

Shut Up

 

Consider using silence as a negotiation tool. When you don’t respond immediately to their offer, the other person will generally get a little nervous. They might start talking to fill up space. They also might begin making concessions. 

 

Add Some Add-Ons

 

Still not happy with the final price? See what else they can throw in for free to sweeten the deal. You’ll be amazed at the extras you can pick up.

 

Leave

 

No one wants to lose a sale. The moment you start heading for the door, the other person starts to worry. They might call you back to give you what you want after all. Use caution, however, as you have to mean it when you leave. There’s no going back once you employ this tactic.

 

Overall, it’s not hard to get what you want from someone else, provided you’re willing to stand your ground and play a little hardball. Keep in mind, though, this kind of negotiation should also be fun. Looking at things as a game will help you to keep your perspective and not take it personally if things don’t wind up going your way.

 

10 Expert Tips for Negotiating in Today’s Business Environment

The heart of business lies in negotiation. Whether you’re trying to close on a sale or get yourself included on a plush project that could make your career, knowing how to get people to listen to you is crucial to your success. 

 

How do you go about getting what you want? Read on for some expert tips for negotiating in today’s business environment.

 

Challenge the Status Quo

 

You start by being assertive. Remember, everything is open to negotiation. You need to step out in confidence and be able to express your needs, while never losing sight of the fact that you have the right to ask for anything. 

 

Listen

 

You’d be amazed how much more people are willing to go to bat for you if you only do them the courtesy of listening to what they have to say. More important, by letting the other person do the talking, you’ll find out everything you need to know to handle the negotiation. 

 

Research

 

Know what the other person needs before going in. Have settled in your own mind the value and worth of what you’re negotiating for. This information will help you to find the middle ground where agreement can be reached.

 

Walk Away

 

Be willing to end negotiations if things aren’t going well. Don’t be hammered into a deal you’re going to regret. Also, by terminating the negotiation, you show the other person what your values are worth.

 

Slow Down

 

There’s no need to rush. Take time to think through the options. 

 

Aim High

 

Oddly enough, you’ll have better success when you ask for something big. 

 

Know the Competition

 

Understanding what the other side needs will always work in your favor. Keep your focus there. How can you take advantage of their worries and frustrations?

 

Look for the Mutual Benefit

 

If you can find the solution that’s beneficial to the person you’re negotiating with, as well as yourself, you’re sure to have success. Find out how your resolution can best meet their needs, then be sure to point that out.

 

Remember the Give and Take

 

If you give up anything in the negotiation, make sure you’re getting something in return for it. The deal has to be fair on both sides, or it’s not worth taking.

 

Keep an Emotional Distance

 

Remember, success or failure is never about you. Nothing that happens in business should ever be personal.

 

By following these tips, you’re sure to experience success in whatever negotiation you face in the business world. 

 

The Dos and Don’ts of Negotiating a Raise

What’s the one thing you wish you could change about your work situation? 

 

If you’re like most people, ‘more money’ is probably right up there at the top of the list. In fact, only 19% of those employed feel like they’re getting paid what they’re worth. It’s no wonder getting a raise is often a person’s number one priority.

 

But with raises, there’s a right way and a wrong way of getting what you want. Let’s look at some of those Dos and Don’ts of negotiating to get that raise.

 

DO:

 

Keep a Record

 

A few months before you begin negotiations, begin recording your activities, making note of each “win” for the company. Document what you accomplished each week in a journal, along with any pertinent notes of who you worked with, what meetings you are attending, and what was completed. 

 

Know the Numbers

 

What is your job worth? If you don’t know, find out what the average numbers are, not just for your position but for the part of the country you live in as well. Having this information helps you to know what the target salary is for this discussion.

 

Understand the Company

 

Timing is everything. Know how the company is performing before you ask. Things not going well? You might still be able to pull off a raise if you can present to your employer ideas on how they can cut costs and increase revenue.

 

Consider Non-Monetary Rewards

 

It doesn’t have to be all about the cash. Think about other things you can ask for, like added days off, insurance benefits, or other perks.

 

Keep a Positive Outlook

 

Not everything is going to go your way. However, maintaining a good outlook and showing you’re still willing to work with the company to improve the situation for future talks goes a long way toward your next salary negotiation. 

 

DON’T:

 

Get Emotional

 

The last thing you want to do is to let things get personal. Emotions have no place in negotiations, especially so if things went wrong. Keep things professional at all times.

 

Complain

 

Starting with a laundry list of where you’ve been shorted and how things aren’t fair, isn’t going to get you anywhere. Keep to your accomplishments, not their shortcomings.

 

Compare

 

It doesn’t matter what kind of raise someone else in the company got. Bringing up how someone else is making more is only going to reflect poorly on you.

 

Brag

 

Showing off or trying to show how much better and smarter you are over anyone else sets the wrong tone and might even put your employer’s back up. 

 

Give an Ultimatum

 

Nothing backfires worse than giving someone an all or nothing decision. An ultimatum only invites them to say ‘no.’ 

 

In the end, this conversation is very much dependent on you and your attitude. Keep your cool, and with a little knowledge beforehand of how you want to handle the discussion, things will be sure to go better than expected. 

 

3 Reasons Why You Shouldn’t Be Scared to Negotiate Your Salary

There’ nothing quite so scary as the idea of negotiating salary for a new job. In fact, about 60% of the population will take the offer when it’s laid out on the table without question. This number goes even higher if the person being offered that salary is a woman.

 

Why do we hold back? What makes salary negotiation so terrifying?

 

You Think You’re Not Supposed to Do It

 

We’re raised with the belief that we shouldn’t ask for things. We’re taught it’s greedy or pushy. The reality of the situation is unless you’re being offered the most plum deal on the planet, you’re probably being undervalued. Companies are all about the bottom line, so it’s in their best interest to offer what they feel is the best deal they can get away with. In truth, they already have wiggle room built into the offer. They expectthere to be a negotiation.

 

You Think You’ll Come off as Arrogant

 

Nobody likes being thought of as being egotistical. On the other hand, there’s a big difference between someone who feels confident about their abilities and a prima donna. The difference comes in knowing where to draw the line. Showing you value your time and skills lets the potential employer know you feel sure of what you can do. As a result, they’re going to raise their expectations of you. If you were genuinely arrogant, you wouldn’t be asking for more—you’d go in expecting the world to fall over itself on your behalf.

 

You Think It Won’t Work Anyway

 

Again, we’re looking at faulty expectations. We tend to think the number offered is already as high as the employer will go. This is never the case. What’s more, the odds are with you. The majority of people who ask, actually do receive an increase in their salary, by several thousand. The national average? Good negotiators on average take home $5,000 more per year than they would have otherwise. With this in mind, why wouldn’t you ask? The worst-case scenario? The other person says ‘no.’ Nothing ventured, nothing gained.

 

Remember, good negotiation starts before you even attend the interview. Know what this potential job is worth. Research online to find out what a typical salary should be and take that information with you to the very first meeting. 

 

With so much potential positive outcome, it just makes sense to try. Never be afraid of standing up for yourself, especially when it comes to something as simple of this. The salary of your dreams is waiting for you.

 

7 Tips for Overcoming Your Fear of Negotiating Your Salary

It’s time for your annual review. Are you ready?

 

Even the bravest of us has issues when it comes time to talk salary. Negotiating takes a certain amount of courage, to begin with. It involves putting yourself out there and risking rejection. When you’re talking take-home pay, the whole idea of trying to talk your way to a better salary can be downright terrifying. 

 

Thankfully it doesn’t have to be that way. Read on to discover some tips on how to confront your fears and get the salary you deserve. 

 

Know Your Value

 

Before you even go into the meeting, you should have a clear idea of one crucial thing: What’s the average pay for people in your position? You can research comparable salaries online. Be sure to memorize those figures as they’ll be necessary.

 

Look at This as a Give and Take

 

The biggest mistake people make is in thinking they need to do all the talking. In truth, you’ll get a lot further by first listening to what the other person has to say. From there, it’s time for a conversation, where you each take turns speaking thoughtfully and respectfully.

 

Go Deep

 

Be careful about the questions you ask. They should never be things easily answered with a yes/no. Aim for open-ended questions, which will provide you with the information you need regarding how far you can take the negotiation.

 

Keep Things on a Friendly Level

 

This isn’t a combat situation. Be confident, respectful, and sure of yourself. Have some idea going in what’s important. For example, is this negotiation all about the money, or do you have other goals? No matter what’s at stake, keep things upbeat and reverent.

 

Expect ‘No’

 

Have a backup plan if things go south. Even if your boss won’t budge on salary, you still might be in a position to negotiate for something else, like benefits. A solid plan will keep you from floundering if the worst should happen.

 

Practice

 

Still nervous? Rehearse the conversation with a friend in a variety of scenarios.

 

Know When to Walk

 

In the end, it might be this isn’t the best fit. Rather than make concessions you’ll regret later, give yourself permission to leave if you feel you are being taken advantage of.

 

In the end, the key to any negotiation starts with self-assurance, both in yourself and your abilities. By taking time to think beforehand how you would like to go about negotiating for what you deserve, you’ll find you feel more ready to face the challenge, and more confident of the outcome even before you begin.