Smart Salary Negotiation Strategies Can Make You Rich

The biggest salary increases almost always come from changing jobs and companies. These increases can be 20--30% higher than the old job. Some of my clients have seen 40--50% increases, and a few clients actually doubled their salaries. Lately, I find employers are open to negotiating salaries and are paying more than ever. Moral of the story -- ASK! But, how? What must I say or do to get the best offer possible? I cover salary negotiations thoroughly in my book 60 Seconds & You're Hired!, but here are a few key points to guide you: Know what your skills are worth. Don't guess. KNOW! Go to my website and click on Salary to learn what employers are paying for your level of experience and skills. You can also check with your professional association -- almost all agencies publish salary ranges based on job title and experience level. Whoever mentions money first loses. To preserve your negotiations power it's critical to never reveal what your salary is (or was). Plan for these salary questions and arm yourself with appropriate answers that keep an employer guessing. Instead of revealing your old salary, offer a statement of fact, citing a salary survey source (i.e. professional association or journal) and give them a salary range, commenting that you are within that range. Laura, an ambitious woman was too open in interview and told the hiring manager her true salary, which was low because promises of raises had never materialized at her current job. The HR recruiter later informed her that, once the hiring manager heard the low figure her current employer paid her, he changed his opinion of her and downgraded all of her achievements and abilities. (The new job paid twice her salary.) In her interview coaching session we worked on how to effectively handle salary questions and armed with effective strategies she landed the job adding a $32,000 pay increase over the job she left. Try! The critical mistake people make is they never even try to negotiate at all -- especially women who are still paid 23% less than men. They simply accept the offer as given. Too bad, because employers still offer higher salaries and more lucrative benefits packages, simply because the prospective employee asked for them. If the employer is convinced the candidate would be a valuable addition to their team they are often willing to negotiate. Negotiate to get the money up front. Promises of future bonuses, raises, stock options, and reviews in a few months, all have a way of never happening down the line. Negotiate every dollar you want into the salary base now when the employer is most amenable. Cover the whole package. Determine the value a company's benefits offer and ask for what you'd like, be it more vacation, flextime, tuition reimbursement, stock options, company car, etc. Don't forget about signing bonuses. They are all the rage again, and often available just for the asking. Get an employment offer in writing. Promises are quickly forgotten once you start the job. Get the details of your agreement in writing by requesting an employment offer letter from the employer so there are no misunderstandings later.