How to negotiate a salary or raise

In preparing for this article, we did our research and reviewed several dozen articles on this subject. There is no shortage of advice regarding how you can negotiate a rewarding salary or raise.  Below you will find a list of suggestions that were most commonly offered by the experts.

While not all suggestions will be appropriate for all job seekers and career planners, it was obvious from our research that the keys to successful negotiation are:

• how well you prepare yourself with data regarding salary ranges paid by employers in general for your occupation,

• your understanding of your employment value - what contribution can you make or have you made to the employer,

• your ability to clearly convey the above information to the employer.

Suggestions for negotiating a rewarding salary or raise:

1. Negotiation is expected!  Don't be afraid to negotiate. Employers expect it and often interpret as a sign of weakness or lack of real ability anyone who avoids the subject.
    

2. Never, never, never do!  If you're seeking employment and are at the interview phase, never discuss salary or benefits until after a job offer has been made! Your strongest negotiating time is only when the employer has made an offer to you. When the employer wants you, then and only then should you discuss salary and benefits.
    

3. Research your salary!  This is a critical element of success. Don't do this and you will disarm yourself and remain subject to the desires of the employer. What should you research? Know the salary range (low, average, high) other employers pay for your occupations. Click here to learn how.
    

4. Research the company. Are they doing well? Talk to anyone you can at the company, even the front desk receptionist. Read their sales literature and company brochures. Check the library for public documents, including corporate reports. Check their website. Do they appear to be in a growth pattern, a holding pattern or in a decline?
    

5. Know your interests and talents. Know clearly what you want to do occupationally and what talents you have developed to accomplish these goals. Without this information, you leave the subject of what you can do and, therefore, what you are worth up to the employer.
    

6. Know your employment value. This too is critical! You must know what it is that you can do for an employer - how he or she will benefit from hiring you, or in the case of a current employee negotiating a raise, what you have done for your employer.
    

7. Go the extra mile.  Prepare a detailed and attractive portfolio - printed and/or electronic that clearly demonstrates your accomplishments and the fact that you can do more than the average worker.
    

8. Never be the first to offer a salary amount.  Don't offer a specific salary even if requested. If requested, especially in the application phase, indicate a range (low to high) or better yet indicate "negotiable."
    

9. Evaluate the whole package, not just salary. Salary is only part of your compensation. Other factors, such as those below must also be considered:
    

   Business travel insurance Child care Commuting Dental insurance Disability insurance Expense account Eye care

   Holidays Life insurance Medical insurance Overtime pay Parking Personal leave Relocation expenses

   Retirement (401(k)) Pension plans Sabbatical leave Sick leave Stock options Travel compensation Tuition reimbursement Vacation leave

    

10. Ask the right questions. Before you agree to anything, ask about future promotional opportunities? What kind of salary progression can be expected? Also, ask when and how your performance will be evaluated. Know the expectations and criteria for future improvement to your salary and/or benefits.
     

11. Remember, the employer's first offer is usually not the best offer! Don't flinch, wait for the offer to get better.
     

12. Don't immediately say yes!  If you appear too eager, you've lost your negotiating power. Ask for a day or two to reflect on the offer. This may cause the employer to improve the offer if he or she really wants you and fears you may reject the first offer.
     

13. Make a counter offer.  Nothing ventured, nothing gained!
     

14. Don't back yourself into a corner (Never say never!) Avoid offering a firm and hard "no" to any offer as it gives you no wiggle room.  Rather than offering a "no," offer "Let me consider that" as your response.
     

15. Get it in writing!  By all means get the offer that you are willing to accept in writing! And be suspect of any offer, or employer, that won't back up their offer in writing.
     

16. Be prepared to walk away!  If the offer is not what you want, and if you're not willing to settle or compromise, then be willing to walk away from the job and do it if necessary, otherwise you will compromise your principles and regret it afterwards.