Negotiating Like a Boss
We’ve all been there. You have every intention to cruise in like the boss you are are, yet the moment salary comes up, you respond with a squeaky “ok, that works!”
Just…no. Let’s break down some considerations.
What can you negotiate besides money?
Beyond the common requests, such as additional paid time off, remote work days, or flexible working hours, additional non-salary points to negotiate are your title, a signing bonus, coverage of professional development costs, assistance with commuting costs, time off for community service, and technological perks like a specific computer or phone for work.
A boost in your title will be advantageous to a future job search, and place you at a higher salary range. A signing bonus provides you with an immediate boost of cash, which can be useful to pay off any debt you may have, or stash away in a savings account for a rainy day. Hello instant gratification! Coverage of professional development costs such as conference fees that you otherwise may not be able to afford, and provide priceless knowledge and networking opportunities.
Immediately following being denied a raise, is there something you should or should not do?
First, take a deep breath. Don’t allow yourself to have an emotional reaction, or take it personally. Empty threats are unprofessional and immature, so don’t threaten to quit unless you are truly willing to walk out the door. Just because they deny your original request, it doesn’t mean the conversation is over. Ask if you can please revisit the request in three months, or after the completion of a major upcoming project, and make a counterask.
How soon after being denied a raise should you try to negotiate other perks?
You should respond with alternatives ASAP. You should always be prepared with alternative solutions when negotiating a raise, especially since the conversation is likely to take place in person.
What should you do if the company won’t budge on any negotiations?
If the company won’t budge, it’s time to consider your options! How important were your asks? Were they non-negotiable? Are you mentally prepared to begin the job hunt? It’s really important to plan for all scenarios, including them saying flat out NO to your entire request.
How should you prepare?
First, make sure you have all of your accomplishments outlined. Don’t for one second think you deserve a raise for just doing your job. You don’t get a raise just because - congrats - you’ve been there for a year. Prepare like you would for a big presentation. Quantifiable data, people! How did you surpass your goals? How did you affect the bottom line? Percentages. Examples. Slides. Boom!
Write out your dream list, and prioritize them. What’s most important to you? What can you live without? These are your bargaining chips.
Do your research. How much are people in your same position getting paid at similar companies?
Most importantly, practice saying your requests OUT LOUD. Keep saying it until you don’t stutter over saying “I’m expecting a salary around $150,000.” You must be confident when making your requests, otherwise they’ll fall flat.
What mistakes do women commonly make when it comes to negotiating?
The most common mistake is that they simply don’t even try to negotiate! If your initial offer is exactly what you wanted, you shouldn’t accept. Ask! For! More! An employer’s initial offer is rarely best and final. Go for it!