To state the obvious—the most efficient way for entrepreneurs to earn more is to raise their prices.
The same holds true if you’re an employee. You must negotiate for more, whether taking a new job or requesting a raise.
Yet this comes as a revelation to many, and a source terror to most.
But think about this. Linda Babcock, in Women Don’t Ask: Negotiation and Gender Divide writes, “A woman who routinely negotiates her salary increases will earn over $1 million dollars more by the time she retires than a woman who accepts what she’s offered every time without asking for more.”
A salary offer is not a foregone conclusion. Ninety percent of Human Resource professionals polled expect salaries to be negotiated. Here are 12 surefire tips for a successful negotiation.
1. Research the going rates in your field. Ask the high end of the spectrum. You can always negotiate down, but never up.
2. Have points prepared, build a case, around your value and what you bring to the company.
3. Always start negotiations on a positive note. For example, thank the employer for the opportunity before making a counter offer.
4. “No” means “not now.”
5. Negotiate salary only after a job offer. Don’t be the first to bring it up. As one expert explained, “Make them fall in love with you before talking money.”
6. Can’t get the amount you want? Negotiate other items: early salary review, profit sharing, educational programs, etc
7. Act confident (even if you don’t feel it). Communicate with authority. Perceived confidence has a big impact.
8. Request 24 to 72 hours to think over the offer.
9. If someone acts put off by a reasonable counter offer, consider it a red flag or negotiating ploy. Perhaps the employer doesn’t value you or wants to intimidate you into agreement.
10. The best time to negotiate is when you have job offers from another company.
11. Get the offer in writing.
12, Above all, focus on relationship building. It’s tougher for someone to say ‘no’ if they like you.
How do you feel about negotiating? Leave a comment below.
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