Will you negotiate your next compensation package? Your salary negotiation is likely to bring you an extra $5,000 a year.
Here are some facts you may not know about negotiating a job offer:
- Most employers are open to negotiation of salary, benefits or other aspects of the job. In fact, a majority even expect candidates to negotiate. Doing so can demonstrate confidence, assertiveness, business savvy, and communication skills that may be valuable on the job.
- Nevertheless, half of us never negotiate, fearing that we’ll appear greedy, damage the relationship, and possibly that the employer will rescind the offer.
- Our fears are unfounded, as long as we do it right: in a clear, reasonable, factual, positive manner with a focus on win-win outcomes and the value you bring to the table.
- How do you “do it right”? There are various techniques, but if you’d like to keep it simple here’s a step-by-step approach to salary negotiation that minimizes risk, maximizes gain and makes it a lot less scary.
- Candidates who negotiate start their jobs with an average of $5,000 a year more – an increase that influences future raises and job offers, and can snowball into tens, even hundreds of thousands of dollars more over the course of your career. It’s like compound interest.
Get prepared to do a successful salary negotiation! You owe it to yourself. (This post was originally published in 2021 and has been updated.)
