6 Tips for Getting Paid What You’re Worth
It’s no secret that getting paid what you’re worth helps anyone love their jobs more. While it isn’t the only factor that makes you appreciate your work, being appropriately compensated for your skills often equates to job satisfaction. However, negotiating your salary can be frightening, especially when you just received a job offer.
Many individuals feel like they may lose the opportunity, while some think it’s embarrassing to ask for a higher salary. Fortunately, you don’t have to feel this way. Here are some tips that can help you get the confidence you need to get paid for what you’re worth.
1. Research Extensively
Before you ask for a higher salary, you need to do your assignment and research the median salary for your position. Don’t just ask your friends or other people working in the field; you need to find reliable sources, so you have a basis for what you’re asking. If you don’t do research, you might end up asking for a salary way below the industry standard.
The best way to find out your salary range is by doing a quick search online on sites such as salary.com and looking at compensation for someone in your position and location. Some job posting platforms list salaries, so utilize them and look for similar positions to see how much they are paid.
However, the average salary shouldn’t be your only basis. You should also take into account your years of experience, knowledge of the industry, and other skills you can offer when negotiating your salary.
2. Discuss What You Can Offer
In addition to researching the average salary, you also need to prepare an argument for your desired compensation. This includes your skills, experiences, and what you can offer that’s unique to you, so they can justify giving you higher pay. Remember, employers don’t care about your bills or personal goals; you need to have an argument that highlights what they can benefit from hiring you.
Discuss any valuable skills you can offer, such as proficiency in different software, certifications, and other skills that merit a mention. You can also list your accomplishments and achievements you’ve made that are useful to your position. You can even mention influential contacts and valuable connections to leverage your argument. The main goal here is to show that you are an asset in the company and worth the investment they’ll put in.
3. Negotiate With Facts, Not Emotions
When asking for higher pay, let the data do the talking. Don’t allow your emotions to control the conversation. Never tell your future employer you need money. This argument rarely helps and often makes you look unprofessional and desperate. Nobody wants to give that impression. That’s why you need to leave your personal life out during negotiations.
However, you need to be honest during the job interview process. If you are asked to discuss your previous salary, don’t falsify the numbers. Always tell the truth when it comes to job experiences, titles, and other offers you might have. While lying is tempting to get the salary you want, lies strangely find a way back to haunt those who tell them.
4. Always Have a Backup Plan
Let’s be real; you don’t always get what you want, even if you did everything you could. This can also happen when negotiating your salary. Sometimes, the company isn’t financially able to give higher pay. Or, maybe, they’re set on a certain number for the position and don’t have any wiggle room. That’s why you need to create a fallback to achieve the pay you’re worth.
For example, you can accept the initial offer and negotiate a performance review after a particular period. If they like your performance, you can request them to increase your compensation. However, you need to wait and ensure that you perform and deliver your promise. Otherwise, you might come off as too confident who’s all talk and no walk.
At the same time, you need to be prepared if your potential boss says no to your offer. Are you ready to lose the job offer, or would you be satisfied with the initial salary you’re given? Many things could happen when you ask for higher pay, so you need to ensure you don’t go to the battlefield without other plans.
5. Consider Benefits and Perks
Your salary is much more than money. It also comes with benefits such as health insurance, paid vacations, sick leaves, etc., that could add more value to your offer. That’s why you need to consider the whole compensation package as a whole before asking for a higher salary.
Are they allowing you to work from home on certain days? Do you get vacation leaves on your first day of work? Check the perks that come with the job, such as the opportunity to control your schedule and potentially have an excellent work-life balance. Don’t just look at the money you’ll get, also check if it can give you the flexibility you want in life.
If the company can’t offer you the numbers you’re requesting, you can ask for other compensation such as a sign-on bonus, relocation compensation, or other benefits that can make the difference between your requested salary and their offer.
6. Don’t Rush
When you receive a job offer, don’t feel pressured into accepting it right away. You don’t need to accept it right away. Instead, you can inform the hiring manager that you need time to think about it. Sometimes, asking for more time can get you an increase in the original offer. In rare cases, turning down the offer increases your chances of getting higher compensation.
However, you need to be aware of the negative effects. Some employers don’t like waiting and may offer the job to another candidate. Or they may accept your rejection of the offer and consider someone else. So, before you decide about the job offer, ask yourself what you need right now. If the salary isn’t enough for your needs, negotiate, but look for other options.
Know Your Worth
Salary negotiations can seem awkward and embarrassing, but they are part of business, and most employers expect them to happen. So, don’t let the opportunity pass and ask for what you deserve. Negotiations can be challenging, but it’s worth the while, especially if you know what you’re worth.
Have you just received a job offer? Here are 4 ways you can reply via email to accept, reject, negotiate, or consider a job offer.
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