Tactics For Confidently Negotiating a Higher Salary

When an employer extends a job offer, they’ll present you with a compensation and benefits package verbally or in writing with a proposed salary. If you don’t feel the pay aligns with your education, career level, skill set, and experience, you may choose to negotiate for more money. 

Additionally, many people feel their income hasn’t kept up with rising prices. 

More than half (55%) of 2,458 respondents in an August Bankrate.com survey said their incomes have not kept up with rising household expenses amid persistent high inflation. And only 33% of respondents said their incomes have either kept up with or exceeded higher household expenses.

Unsurprisingly, most people aren’t comfortable asking for more money once their job search ends and they have an offer. They don’t want to jeopardize the opportunity if the salary is reasonable. But if you believe you deserve higher pay, you must negotiate with the higher-ups. 

The following are four salary negotiation tactics to confidently ask for the pay you want and deserve. 

Become Familiar With Industry Salary Trends

When negotiating a salary, you can’t just throw out a number with no factual information. Information is power. Therefore, you must research the going rate for your position and experience level, and adjust national figures for your geographic area.

Doing your homework will better equip you to get what you're worth in the marketplace.

One good online resource that can help you with your research is Glassdoor.com, which allows you to research individual companies, see the salaries that people in specific positions have earned, and review current and past employees’ opinions about the employer and their jobs.

Glassdoor.com also has a trademarked “Know Your Worth” calculator that allows you to discover your current worth in the job market (based on your current job), find out if you’re being paid fairly, and discover ways to increase your salary.

Evaluate the Job Offer

Once you get a job offer, evaluate it carefully. More factors come into play than just the base salary. You must consider the entire package, including job content, compensation, benefits, hours, flexibility, management and company culture, pension plans, and the work environment.

Next, you need to really understand what matters to you in both your professional and private life and then “assess the offer” against these metrics, Jeff Weiss, president of Lesley University and author of the HBR Guide to Negotiating, told Harvard Business Review. 

“People tend to focus on the dollars, but it is useful to ask, ‘What is of value to me?’ After all, money is only one component of career satisfaction,” Weiss stated. “Very often, it comes down to, ‘I would rather make X amount of money and be excited to go to work in the morning than make X plus 10% and hate my job.’”

Build Your Case

Once you have determined the essential elements of the salary offer that you would like to change, you need to decide which cards you will play and the sequence of how you will play them. You can’t counter the offer with a higher number even if your research supports it. 

You’ll be more successful if you explain why you deserve more. Therefore, highlight your strengths, detailing all the extras the firm would get from someone with your track record.

Jeff Weiss explains that if you are dealing with an intermediary — an HR administrator or a recruiter, for instance — remember to “not only make requests, but also arm that person with questions, information, and ideas.” 

For example: “The salary you’re offering is great, but I want to keep developing in this role. I can imagine some possibilities that might make the job more palatable such as having access to a mentoring program, a rotation program, or an educational allowance. Which of these might be possible?’”

Say “No” If The Offer Just Isn’t Right

If you can’t reach an acceptable salary figure, and you don’t feel that perks and benefits add enough value to the compensation package to balance the low earnings, your reply should be polite and professional. 

One example of how to decline an offer is: “Thank you very much for the consideration and the offer, but I’m afraid I’m unable to accept the salary. If your pay structure changes and you still consider me a viable candidate, I’d love to revisit the opportunity in the future.”

There is no shame in declining a job offer if it’s not the right fit. But you should always leave the door open, as you may have to work with these people in the future. Always be respectful.