Negotiation is becoming a lost art. According to a survey conducted by CareerBuilder.com, 56 percent of people report having never asked for a raise and 49 percent of people offered a new job accept the first offer they’re given without negotiating. Since some companies lowball their initial offer in anticipation of negotiations occurring, you could be leaving a lot of money on the table by failing to negotiate. Here are some tips that can help you learn how to negotiate for more money.
Don’t Be Scared
There are no reports of anyone having ever been fired for asking for a raise. At worst case, the employer will say no and you will go back to your regular job at your regular pay. If you have a good relationship with your employer and can demonstrate that you have been an asset to the company, there is no harm in asking for more compensation. If you have a contentious relationship with your boss, you may be better off looking for a new job than trying to learn how to negotiate with them.
Know Your Value
Before attempting to negotiate for more money, it would be helpful to know what other employees in your current position are making. Sites like Glassdoor.com can help you figure out what employers are paying people who have similar credentials to yours. Then you can see where you fall on the salary scale and use that as a jumping off point for your negotiations.
Be Willing To Accept More Responsibility
With more money may come more responsibility. A lot of employers are not willing to give out more money for nothing in return. Be willing to accept that increase in responsibility as part of your salary negotiations and you will often get a better response from your employer. Accepting more responsibility could also put you in line for bigger raises in the future.
Time Your Request Carefully
The timing of your request will have a large effect on how the request is received. The best time to start negotiations is when your company is doing its regular employee evaluations. During these times, your employer may be more receptive to how you negotiate for more money and will actually consider your request. Times where stress is high and deadlines are looming are not the best times to make your request.
Following these simple tips on how to negotiate for more money will give you more confidence in your negotiations and give you a greater chance of succeeding. These tips can be used in a wide variety of negotiations, from getting a better price on a car to hiring someone to perform services for you. The keys to success are to know what something is worth and being willing to go for what you want. You’ll never get it if you never ask.