It’s never a good idea to walk into a negotiation without being prepared. You most certainly will come out of it unhappy and frustrated. Knowing how to negotiate is a necessary skill that will help you be successful in your career, not just when it comes to your salary. Here are 5 skills to master:
- Research. It’s important to have all the information to negotiate successfully. Find out the going rate for your job position in your area on sites like glassdoor.com. Also, take into consideration any perks your company offers you (flexible schedule, vacation time, etc) when deciding on the salary rate you want to negotiate for.
- Practice. Go through your negotiation pitch with a trusted friend or mentor. Ask them what they think and be open when they offer suggestions.
- Use power words. Avoid phrases like “I think” or “I feel…” (Women especially have a tendency to use these phrases to not step on toes.) Take those phrases out of your sentence, or replace them with “I am confident…” and continue with your sentence. “I deserve this salary because…” is much more powerful than, “I think I deserve this salary because…”
- Decide what you would be willing to give up. We see it in the movies all the time. Negotiators start out with a certain high number, but know they are willing to drop down to a certain amount if it’s necessary. Before you go into the meeting, even if you have a dream number in mind, decide how much you can realistically live with and be happy if the negotiations don’t go exactly how you want.
- Close the loop. No matter how the meeting went, thank your superiors for their time, and determine the next follow-up steps before leaving the room.