Knowing salary negotiation tactics and avoiding salary negotiation mistakes are keys to obtaining the job offer you want and deserve so much. Very few people actually like negotiating but this is a skill that you should master, especially if you are looking for a new job. Making a new business deal or getting a new job offer can be exciting but the process of negotiating can be quite nerve-racking, especially if you don’t have too much experience negotiating. Learning to negotiate will help you obtain the salary that matches your educational background, your experience and your job skills. Here are 7 salary negotiation mistakes you should avoid if you want to be satisfied with your income:
1. Not Doing Enough Research
One of the most common salary negotiation mistakes most people make is the fact that they don’t do enough research. You won’t be able to negotiate your salary if you haven’t researched that job’s responsibilities or how much other people in those jobs are paid. Do your homework and be prepared if you want to reach to an agreement during that negotiation process.
2. Settling/Not Negotiating
Another mistake most people make when they are negotiating their salary is the fact that they accept the first offer they receive. A lot of studies have shown that younger job-seekers and female job-seekers often make this mistake and in most cases, it's because they don’t understand the negotiating process very well, or because they don’t like the idea of negotiating.
3. Lacking Confidence
Not having enough confidence will not give you an advantage when you are negotiating your salary. You need to be bold and brave, but try to be respectful at the same time and back up your confidence with solid, well-researched information.
4. Revealing How Much You Would Accept
Another common mistake most job-seekers make is the fact that they tell their employer how much money they will be willing to accept. Sometimes it is hard not to offer this information, especially when your potential employer asks for a salary requirement or a salary history, but try to be smart and offer an approximate figure.
5. Taking Salary Negotiations Personally
Don’t take salary negotiations personally. Stay professional and try to obtain a better offer. Just keep in mind that if your potential employer has made you an offer then you are their choice, so you will still receive an offer even if it’s not the amount of money you deserve or want.
6. Focusing on Need Rather than Value
Most employers don’t care that your salary won’t cover your student loan, your mortgage or your living expenses. Try to focus on the value of the work you are doing, do your research and ask for a figure that reflects how much your work values. Don’t ever tell your potential employer that you need a certain amount of money, tell them how much money you deserve for the work you are doing in their company.
7. Thinking Something is Non-Negotiable
Try to think like a negotiator and realize that everything is negotiable, especially if you have the right attitude. Negotiators must adhere to certain rules but even those are negotiable as long as you can propose a viable, ethical and mutually beneficial alternative that will make you and your potential employer happy.
Try not to accept or decline a job offer too quickly, don’t ask for too many changes in counteroffer and try to build a relationship with the other party first. Do you know any other salary negotiation mistakes you should avoid? Please tell us about them in the comments section!