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Tips For Successful Salary Negotiation

31 January 2024 by

Tips For Successful Salary Negotiation

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Leonie Gleeson Career Advice, Interview Advice

Negotiating your salary is often intimidating, with 68% of mid to senior level marketing professionals consistently engaging in this pivotal conversation, and over 32% avoiding it entirely. Staggeringly 60% of early career professionals would rather move jobs than address a salary negotiation with their line manager.

Fear, a significant deterrent, hinders the process. Alternatives salary survey revealed that 40% of women are not comfortable negotiating salary while only 25% of men would be deterred from the same.

Essential Steps for Successful Salary Negotiation:

  1. Understand Your Worth: Research industry-specific salaries using platforms like Payscale and or check out the latest Salary survey link to Alternatives

  2. Consult Recruiters: Leverage recruiters' insights into market values for your expertise.

  3. Prepare a Summary: Create a one-pager showcasing your achievements for discussion.

  4. Aim High: Request a salary toward the top of the market value range.

  5. Establish a Walk-Away Point: Determine the minimum offer you would decline based on your needs.

  6. Assess Readiness: Consider factors like tenure, accomplishments, and exceeding expectations.

  7. Optimal Timing: Initiate discussions three to four months before performance reviews to align with budget decisions.

Navigating the Conversation:

  • Confidence Matters: Enter negotiations with a positive and confident demeanour.

  • Start with Questions: Understand the other party's needs through diagnostic questions.

  • Showcase Achievements: Highlight past successes and future contributions before discussing numbers.

Focus on the Future: Emphasise potential and future value instead of dwelling on the past.

Initiating the Conversation:

  • Think About the Other Person: Consider the negotiation from the opponent's perspective.

  • Consider Others: People tend to negotiate better when advocating for someone else.

  • Stay Positive: Maintain a positive tone during negotiations.

Making the Ask:

  • Set the Anchor: Be the first to suggest a number to control the negotiation.

  • Ask for More: Request more than what you want, allowing room for negotiation.

  • Avoid Ranges: Present a specific number rather than a range.

  • Focus on Market Value: Keep the conversation centred on your market value.

  • Prioritise Requests: Rank your requests to facilitate mutually beneficial tradeoffs.

  • Omit Personal Needs: Concentrate on performance and achievements rather than personal needs.

  • Embrace "No": Understand that "no" is part of the negotiation process.


Getting an Answer:

  • Counter Gracefully: If met with rejection, doesn’t mean the conversations over, and assert the value you bring.

  • Avoid Threats: Keep the conversation positive, refraining from threats or ultimatums.

  • Explore Alternatives: If the salary is non-negotiable, consider negotiating for other benefits or perks.

  • Keep Negotiating: Negotiation is a skill that improves with practice; persevere for better outcomes.

 Remember, negotiating may be challenging, but mastering this skill can significantly impact your financial future.