When negotiating your salary, the most crucial question you'll face is "Why do you deserve this salary?". The last thing you want is to be paid less than you deserve, so it’s important to understand how to answer this question. Your answer should clearly state the reasons you want a certain salary and also provide your employer a flexible range. Let’s explore how you should negotiate your salary.
1. Do your research
First things first, make sure to do your research. Search online for the average salary for your position. You don’t want to request a certain salary when others in your industry make twice as much as that. On the other hand, an employer will be unlikely to say yes to a salary that is much higher than what is standard for your position. Furthermore, make sure that your minimum salary is enough to pay for all your necessities and leave a little left over. The last thing you want is to receive the salary you asked for only to realize that you can’t afford to live. State your desired salary as a little higher than what would allow you to live comfortably.
2. Provide your achievements
Highlight your relevant achievements, skills, and experience. Did you recently complete an important project at the company? Perhaps you also know how to harness AI and ChatGPT well, which is a relatively new albeit important skill. Bring up the ways you have contributed to and benefited the company. Be sure to mention any specialized skills that are in demand or incredibly important to the company. Employers are more likely to agree to a higher salary if they see a direct correlation between your skills and their business objectives.
3. Show your dedication to the company
Show your employer that you understand the company’s values and goals. Explain how you can contribute to achieving them. Bring up an example of how your work positively impacted a company, whether it’s your current company or a past one. Employers are more inclined to invest in an employee who clearly demonstrates how they will contribute to the company's growth and success.
4. Provide a flexible range
While it’s important to state your desired salary, providing a flexible range can open the door for negotiation. This shows your employer that you’re flexible and willing to compromise. Make sure your desired salary is somewhere in the middle of your range. For example, maybe you’ve done your research and found that the average salary for your position is $70,000. You can provide a range from $67,000 to $75,000. This approach allows room for negotiation while still communicating to your employer your expectations.
5. Be confident
Last but not least, be confident! Practice your delivery before giving it. Make sure you remember your points and you can present them naturally. Ask a friend or mentor for feedback if you need it. Prepare for any questions your employer might ask you. A little confidence can go a long way.
Answering the question “Why do you deserve this salary?” effectively can go a long way. By using the tips in this article, you can build a compelling case that will help you receive the salary you want. Remember that preparation and confidence are key to navigating salary negotiations successfully. It will ensure that you are compensated fairly for your contributions and expertise.
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