Steps to Negotiate Salary

1. Do Proper Research: Before the process of negotiation, the employee should do the proper research to understand the real worth of their skills and experience in the industry. To do that, the employee can check the salary range from sites such as Glassdoor, Payscale or Salary.com. Employees can compare these salaries with the position for which they have applied. They can also ask the people of their network, such as friends and relatives if they are working in the same field. After doing this, they will get a rough estimate of the target salary. It also prepares them to justify their request with proper facts.

2. Know Your Value: Besides the market value, employees should also know their personal value, which is the unique contribution and impact they can make to the employer. They should be able to articulate their achievements, skills, and strengths, and how they align with the employer’s needs and goals. They should also be able to highlight their potential, and how they can grow and learn in the role. Knowing their own value will help people build their confidence and credibility, demonstrate enthusiasm and fit for the position.

3. Ask for More than You Want: When you are making your salary request, it is better to demand a little more than your desired amount, but it should be in a reasonable range according to your research. Because the employer is most likely to negotiate the initial offer you can compromise and agree to a mutually agreeable amount. Asking for more than you want also shows your self-worth and shows you are not going to settle for less and also, have good belief and confidence in your skills.

4. Be Flexible and Creative: Salary negotiation is not all about your base salary, but it is about your whole compensation package, which may include benefits, bonuses, stocks, and rental expenses. You should explore different combinations which suit you the best. For example, if the salary offered by the employer does not meet your requirement you can ask for an increase in bonuses or more stock options. Being flexible and creative will help you find a win-win solution and also show that you are not rigid and unreasonable

5. Be Respectful And Professional: As we know, this process of salary negotiation is very sensitive. It can also cause conflict or a bad impression for the employer. So, you have to be very respectful and professional in communication. You should avoid unnecessary talks such as family or personal issues. And focus more on the value you can bring to the company and market standards during communication. Being respectful also builds trust with the employer, and your chances of getting a positive response will also increase.