20 Salary Negotiation Tips

[Badshah Mamun]

20 Salary Negotiation Tips

What's the first thing we think about when we're about to start a new job? The coworkers? No. Your boss? Not quite. The money? Absolutely.

So what's the difference between getting the job you want and making a living, and getting the job you want and taking home a big fat paycheck every week?

Whether you're a banker or a sales rep, grab a pad and paper and take some notes. These 20 salary negotiation tips may just make the difference between that five and six-figure paycheck.

1. Show your experience and know-how

Put your past experiences on the table and let the employer see exactly why you're fit for the position. Hands-on experience is a very efficient tool among our 20 salary negotiation tips.

2. Put numbers where your mouth is

Flashing your past job titles isn't enough; you must also demonstrate exact examples of what you've accomplished. Show your employers that you've increased department sales by 20% and doubled your productivity in six months.

3. Don't ask about salary
One of the most basic and overlooked salary negotiation tip is to make sure to let employers make the first offer; it is preferable to push off any actual salary talk until after you've secured the position. At that point, it'll be much easier to negotiate since you'll know that the company wants you on board.

4. Show excitement about the position
Motivation is the key to good productivity. Be sincere about this emotion and put on your happy face in order to show the employer that the only thing stopping you from taking the job is the compensation.

5. Visualize yourself already having the job
As a personal tip, perceptual visualization is a great way to follow through and get something done. This is the same technique professionals use to sink the 8 ball in the corner pocket. See it happen and it will.

6. Don't bring your personal life into the negotiation
Salary is only based on the company's budget and your capability of getting the tasks done. So, bringing up the fact that your dog needs an operation or you want to get yourself the Breitling Cosmonaute watch will not get you far.

7. Do your research about the position
When you walk into the room, you should know -- from A to Z -- what the position entails, the skills required, the industry average salary, and the market demand. Use all of these hidden assets to your advantage and be prepared for any curve ball the employer might throw at you.

8. Know your worth
Match how much you're asking to what you're worth. If need be, tell them what your compensation was/is at your old/current job and how much your skills are worth on the market. Prove to them that you know what price tag fits your skills, and use it as a bargaining tool. Knowing your industry and field is a crucial salary negotiation tip.

9. Know your minimum expected salary
Employers expect to negotiate salaries with new employees, but figure out beforehand how low you will go. And if you see the prospective company is not able to match your minimum salary range, don't be shy to ask about employee packages or even turn down the offer.

10. Be prepared with alternative solutions to cash
Stock options, signing bonuses, expense accounts, profit sharing, and performance raises are only some of the perks that can make up for actual cash compensation.

11. Don't be afraid to walk away
Taking your stuff, turning down the offer and leaving might just be the best negotiation tactic. Show them you're not scared to walk away from the table; this will prove that you're very capable of going somewhere else and getting what you deserve. Act like you don't need it, and they might just give it to you. However, be prepared for them to let you walk out the door and never call you again.

12. Sell yourself
The employer shops around for the perfect employee, the same way you do when you're out buying a car -- you look for the best possible option at the lowest cost. Paint him a picture of your skills and all of the reasons why he should hire you.

13. Be comfortable with the employer
Don't turn the negotiations into a "do or die" situation. Avoid conflict. Be loose and friendly in your exchanges and let things flow. You'll be surprised at how receptive your employer might be to this approach.

14. Be calm and in control
The last thing your future boss wants to see is you throwing a fit because you didn't get what you wanted. Prove to him that you're capable of keeping your emotions in check, even when things don't go your way.

15. Don't necessarily turn down the first offer
Who knows? The first offer made might be exactly what you're looking for. But if it isn't, remain quiet and indecisive, and the employer might just make a higher offer to break the silence.

16. Be flexible about the hours
Although your potential employer may not be ready to offer you a full-time position, always consider a part-time position, working from home or any other flextime alternative.

17. Forecast other benefits
If you don't get the salary you were expecting, don't despair, because the company may just have a salary cap and must, therefore, remain within the budget. Ask about potential advancement within the company and eventual raises.

18. Prove you're the best man for the job
Ultimately, employers want to see future employees defend their case and follow through with their ideas. Do the same when it comes to getting the position.

19. Have a backup plan
If you see that negotiations are not going your way, whip out additional reference letters, take a salary cut during the early stages, or propose working from home to exempt the employer from having to set up your office and hence extra costs. Whatever you do, improvise and be ready to adapt.

20. Anticipate objections
The same way you prepare for a Q&A session at the end of a presentation, cover all of your angles; be ready and steady for any unusual inquiry from your future employer. Know exactly how to respond if he says, "you're not qualified enough" or "you're asking for too much."

Source: http://www.askmen.com/money/career/36_career.html