PayScale is a software and data company that 鈥渉elps employers manage employee compensation
and employees understand their worth in the job market,鈥� and it has this to say about
negotiating for a higher salary: For people with a master鈥檚 degree or better, not
making the push for better pay means leaving up to $1.5 million in earnings on the
table over the course of a lifetime. Not a bad payoff for having the difficult conversations.
Fairness, self-worth, and overall economic benefits such as juicing the gross domestic
product are other reasons why you should have the tough talks, but for now we鈥檒l stick
with the how, as in how to negotiate a higher salary.
It鈥檚 About What You Want and Deserve
There鈥檚 a common fear that arguing for a higher salary can hurt you. concurs that arguing is a mistake. The exchange should be a constructive conversation with 鈥渁 negotiating partner, not an adversary.鈥� The exchange, however, is not your starting point. Research is where you begin.
Regardless of whether you鈥檙e wrangling for a pay increase in your current role, negotiating for a salary in a new role with the same employer, or establishing wages, earnings, and benefits for a new job, your starting point should be research on how much you deserve.
Querying co-workers with the same job and responsibilities about pay typically is taboo, though not overtly actionable (even if there are formal company rules). Fortunately, there are many good resources/tools to calculate a target figure.
- The U.S Department of Labor is a clearinghouse for data on worker wages, earnings, and benefits.
- Tools such as those available through PayScale (), Indeed.com (), and Salary.com () also can give you target amounts.
Know How to Ask for It
Once you have your data, you need a game plan, and low-balling isn鈥檛 a good one. Ask for what your research and work history show you are worth, not what you think will be an easy sell.
Let the facts guide you, not what you think the state of the economy dictates or what
your time with the company or data on a target employer indicate you should request.
Remember, too, that you are starting a negotiation, not making an ultimatum. Your
opening pitch is just that, the opening. Be flexible, but stick to your game plan.
Have a Script, and Stick to It
Knowing what you want is important; of equal significance is how you ask for it. shares 11 phrases and words it considers must-use. Here are four of the phrases:
鈥淏ased on my research.鈥� This is all about showing your negotiating partner(s) that you鈥檝e done your homework.
鈥淪imilarly situated employees.鈥� This is an especially effective phrase if you are vying for a raise or promotion and have learned, either from co-workers or through research, that you are being underpaid relative to others in-house or comparable employers. It鈥檚 always better to cite research than to turn it into a 鈥渂ut so-and-so makes鈥� situation.
鈥淚 would be more comfortable if.鈥� This is a way to gently and collaboratively present an exact number, or even an exact number with qualifiers, perhaps perks you might be willing to accept in lieu of your target number.
鈥淚f you can do that, then I鈥檓 onboard.鈥� This is your way of giving both sides an out. There鈥檚 been give and take, and you want to dangle the deal-maker. Here鈥檚 Glassdoor鈥檚 example: 鈥淚 understand you can鈥檛 come all the way up to $60,000. It would be great to add an additional week of paid vacation along with the $55,000 you suggested. If you can do that, I鈥檓 onboard.鈥�
So, you鈥檙e being courteous. You鈥檙e being precise in your language, firm but not pushy. And you鈥檙e ready for whatever the interview presents. Or are you?
PayScale you should be ready to face.
- What you plan to say if the offer doesn鈥檛 work, including a rebuttal that, if applicable, features a higher competing offer you鈥檝e received from elsewhere.
- What you do or say if there鈥檚 been an offer that is in your range but doesn鈥檛 appear to be their ceiling. Press for more?
- What you want in benefits, and how much you are willing to shave off the target salary
if the benefits being offered exceed your expectations.
You can鈥檛 anticipate everything, but you can try. Script a response for everything
you expect.
Some Do鈥檚 and Don鈥檛s
You have a strategy: Research. Know what you want and what you鈥檒l settle for. Have a script.
Now for some tactics, the flourishes and details a strategy comprises. Here are some do鈥檚 and don鈥檛s from and .
- Don鈥檛 get personal with your script. Don鈥檛 say you need more money because you really need it to meet bills. It鈥檚 far too personal and could indicate a lack of responsibility.
- Don鈥檛 offer salary information from your last job. It鈥檚 not relevant, and it gives your interviewer an edge.
- Don鈥檛 compromise your integrity.
- Don鈥檛 focus on the past, beyond listing your accomplishments. Instead, express how what you have done is a portent of what you can and will do.
- Don鈥檛 wait for them to get specific about money. Comfortably work your number into the conversation.
- Don鈥檛 just say how much you want to make, say how your market value justifies the number you want.
- Do pick the brains of recruiters. They can tell you whether you鈥檙e marketable and your value on the market.
- Do go high with your salary number, and be specific 鈥� to the dollar.
- Do compile a list of your selling points, and hammer them home.
- Do exude confidence, and open your presentation with questions.
- Do listen 鈥� very carefully 鈥� and ask for advice when it fits the conversation.
- Do be willing to make a counteroffer, but avoid anything that smacks of a threat.
Boost Your Market Value Through USF鈥檚 Professional Development
USF鈥檚 Office of Corporate Training and Professional Education has classes, programs, and certification opportunities that can make you a leading player in your field and the kind of business asset headhunters target. For general inquiries, contact us by phone at 813-974-0950 or by email at CE-Inquiries@usf.edu