How to Negotiate Your Desired Salary Like A Pro

Knowing how to masterfully negotiate your desired salary is a skill that most people new to the workforce and even professional job seekers struggle with. This becomes more apparent when a 2023 study has shown that 39% of Americans do not even negotiate their initial salary.

After all, it's not easy to know how much you're worth, especially if you're just stepping onto the professional scene or if negotiating isn't in your particular skill set.

Continue reading to learn how to negotiate your desired salary, why negotiating your salary expectation is important, some important points to make during the negotiation process, as well as some frequently asked questions.

Steps in negotiating your salary

Below are some steps that you can take when negotiating your desired salary to your employer and to make sure that you're getting paid what you're worth.

Step 1: Know your worth before negotiating your salary

To even begin negotiating your salary, you should first know what you're worth. Your skill set, your overall contributions to the company, and the overall market value of the role should be taken into account if you want to negotiate a better salary than the one you have now.

To make the search significantly easier, you can use the Personal Salary Report to know how much you should be making for your role and provide you with a more competitive edge compared to others with the same role.

Step 2: Practice your salary negotiation pitch

Think of the entire negotiation process as one big speech - you're delivering your piece to the HR managers, after all. Thus, it's important to prepare and practice a speech that perfectly highlights your talking points to help you get your desired compensation as fumbling is a common mistake that plenty of people can make during the conversation.

You can use the script below as a reference:

"Based on my skills in [specific expertise] and the responsibilities listed in this position, I believe a fair salary would be in the range of $65,000 to $70,000. This figure is based on market research from Glassdoor and Payscale, and it reflects the value I can bring to the company.

Step 3: Talk it over in person with the HR representatives

Though negotiating your salary expectations can easily be done via email, negotiating it personally can help you deliver your points clearly as well as let the HR representative know that you mean business.

Step 4: Be confident when presenting your salary request

Confidence is just as important as the words you say. Even if you've prepared a strong salary negotiation pitch, your delivery can make or break the outcome. Maintain eye contact, speak clearly, and avoid filler words like "um" or "maybe." A confident tone shows that you believe in your own value-and it reassures the employer that you can back up your request with results. Practicing with a friend, mentor, or even recording yourself can help refine your presentation.

Step 5: Start with the higher end of your salary range

Once you're confident in your pitch, the next step is to give them the highest number you might think of. It allows for a bigger room for negotiation for both parties, and opting for a general salary range means that they can lowball your offer, which isn't ideal.

You can use the script below as a reference:

"Considering my background in [field] and the measurable results I've achieved in [specific project or outcome], I would like to request $80,000 as my target salary. I understand this may be at the higher end of the range, but I believe it fairly reflects both the market rate and the value I'll contribute here."

Step 6: Consider different types of compensation

Remember that there are two types of compensation - direct and indirect compensation. In case the initial negotiation falls through, you may try to consider asking for better indirect compensation like stock options, bonuses, flexible hours, remote perks, or training budget or more comprehensive health insurance.

Step 7: Do not be afraid to look for other options

Lastly, do not be afraid to walk away and consider alternative employers if none of the steps worked when discussing salaries. Most companies either do not have the capacity to offer a higher salary, or bureaucratic dynamics simply will not allow you to have a raise.

Carefully consider your options and if your current employer values your work and if it's worth it staying with the company. If not, then do not be afraid to walk away and explore other opportunities and continue the job search.

Why should you negotiate for a higher salary?

You should negotiate for your desired compensation because you should be paid what you're worth. It's a well-known fact that companies pay their employees below the market rate to the point where Payscale reports that at least 68% of employees believe they are. Thus, negotiating for something that's competitive and is at market rate can help you earn what you think you're worth.

Additionally, negotiating for your desired salary can also help your employers know the value that you bring to the company. If you properly lay out your points and it came through, employers are more likely to value you more as well, which can help you with your career progression.

Important points to make when negotiating your desired salary

Below are some important points that you should make when you're negotiating your desired salary during the salary negotiation process.

• Mention the initial offer made during your job application and mention how much you've improved throughout your time with the company.
• Mention the market research that you've done about the salary range for your current job description.
• Ask if a raise is within the company's budget and which other candidates make the same or more than you.
• Let them know that your current compensation package does not properly align with your career goals
• Inform them of the industry standard compensation for your role - it will be better if you provide a specific dollar amount.
• Evaluate the offer that's given to you and properly communicate if it aligns with your current goals.

FAQs

Below are some frequently asked questions about negotiating your desired salary.

Should I mention my salary expectations during my initial job interview?

Yes, you should mention your salary expectation during your initial job interview process. This will let hiring managers know what you think your worth, as well as widen up overall salary discussion moving forward. Additionally, this will also help guide hiring managers during the hiring process as it allows them to know the fair salary to provide you with as a base salary.

What should I answer when I'm asked about my desired salary?

It depends on plenty of factors. When discussing your desired salary range though, it's important to provide a bigger number. This will let the hiring team negotiate your current salary range, which can then lead them to making a final offer that's agreeable for both parties involved.

What is the difference between desired salary and expected salary?

The main difference between desired salary and expected salary is the fact that the desired salary is the compensation package that you want, whereas expected salary is the specific number that you will get after signing with the company and accepting the job offer.