We are all aware that salary negotiations are one of the most nerve-wracking parts of job-hunting. It can become really tricky, and that’s why most people make mistakes, costing them big money.
Here are some salary negotiation mistakes to avoid:
1. Not asking for more. It can become awkward asking for more money when it comes to your salary. However, not negotiating at all is a big mistake. If you’re worried that your potential employer will throw a fit and pull the offer, then you need to know how to handle the negotiation in a pleasant and non-adversarial way.
Sometimes, it is acceptable not to negotiate, especially if the company has stated that they’re offering at the top of their range.
2. Basing your salary request on your best guess.
Do not base your salary on a wild guess. You need to do your research on how much employees are paid in the same field. You might end up undervaluing your work if you don’t talk to the right people.
You can do this by checking with professional organizations in your industry or even talk to recruiters. Online salary sites may help, though they may not be that accurate or reliable.
3. Letting the employer base a salary offer on what you’ve earned in the past. Your employer doesn’t have to know how much you were making in the past. Let your potential employer know how much your work is worth today.
4. Agreeing to put off a raise without a firm agreement in writing. If you’ve discussed the raise during a final offer, make sure to put it in a written agreement. This way, you won’t be blindsided if there are issues.
However, be cautious in doing this, especially if you’re accepting a new job. Keep in mind that you’ll still need to prove yourself before your boss considers a raise. It might be a gamble, but handling your negotiations upfront before accepting an offer is a wise move.
5. Asking for a salary range if you wouldn’t be happy with the lowest end of it. Asking for a wide salary range can make you feel disappointed if the employer sticks to the low end. Because of this, make sure to pick your range carefully and be prepared to argue as to why you deserve to have a high salary in your position.