Ever wondered why some people seem to effortlessly secure the salary they desire while others struggle? The secret lies in understanding your worth, skills, strengths, and accomplishments.
Top Reasons People Avoid Salary Negotiation
- Fear: The fear of rejection or being undervalued may cause some individuals to avoid salary discussions altogether. Overcoming it starts with boosting confidence and reminding yourself of your value.
- Lack of Knowledge: Not knowing how to approach salary negotiations effectively may prevent people from bringing up the topic. Enter the conversation prepared and self-assured by learning practical strategies on how to negotiate your salary. By tackling these barriers head-on, you can transform hesitation into opportunity.
Build Your Foundation for Negotation on Self-Assessment
Before any negotiation, assessing your value is crucial. It's your foundation for a successful salary discussion. So, how do you begin? Dive into industry standards and benchmarks for your position and field. Knowing the market rate empowers you.
Don't stop there. Highlight your unique contributions, skills, experiences, and achievements. Factor in your geographical location, cost of living, and demand for your specific skills. This combination sets you apart and strengthens your negotiation position.
Craft Your Narrative
Setting realistic yet ambitious salary goals is an art. Start by crafting a compelling narrative that justifies your request. Ask yourself: what value do I offer the company, or how can I increase the company's revenue stream? This story should weave together your achievements, market research, and future potential.
Strategize Your Moves
Anticipate potential objections and prepare responses. Think of it as a chess game—strategize your moves. Being ready for counterarguments shows confidence and foresight, making your case even stronger.
Showcase Your Skills
Sell your accomplishments by outlining your level of experience, education, specialized training, certifications, and language proficiency. Include both technical and hard skills (e.g., programming languages, industry certifications, design software, data analysis, and foreign language fluency) and soft skills (e.g., communication, leadership, teamwork, adaptability, and problem-solving). Determine your proficiency level for each skill.
Translate Military Experience
For military personnel, tools like Military OneSource, Credentialing Opportunities Online (COOL), and SkillMil can help translate training and experience into civilian-friendly skills. These resources assist in building resumes, credentialing military experience, and exploring career paths.
Quantify Your Accomplishments
Provide a clear and concise explanation of each accomplishment. Quantify your accomplishments with numbers, percentages, or other measurable metrics. This adds credibility to your claims and provides concrete evidence of your impact.
Use the STAR Method
Describe a situation or challenge, outline the tasks involved, explain the actions you took, and conclude with the results or outcomes achieved using the STAR method:
- S: Situation – Describe the context or background of a specific situation where you demonstrated exceptional skills or achieved significant results.
- T: Task – Explain the specific task or responsibilities you have taken on in that situation. Highlight your accomplishments and the impact they’ve had.
- A: Action – Detail the specific actions you took to address the task and achieve your objectives. Focus on the unique skills, strategies, and efforts you employed.
- R: Result – Share the quantifiable results or outcomes of your actions. Use data to demonstrate the value you brought to the organization.
Follow Up
After a salary conversation, annual review, promotion request, or offer letter, follow up with documentation.
- Express Enthusiasm: Start by thanking them and reiterating your excitement for the opportunity. Example: “I’m really excited about this role and the opportunity to contribute to your team.”
- Present Your Case with Data: Justify your request with industry salary data, relevant skills, certifications, or past experiences. Example: “Based on my research, the market rate for this role in [location] is around [$X]. Given my experience with [specific skills or achievements], I’d like to discuss a salary adjustment.”
- Stay Professional and Positive: Avoid ultimatums. Instead, frame it as a conversation. Example: “Can we explore a salary range between [$X] and [$X]?”
- Consider Other Benefits: If they can’t increase the salary, ask about career progression, professional development, or bonuses. Example: “Can we discuss potential for career growth, including promotions or education benefits?”
Reflect on the negotiation process—what worked and what didn't. This reflection is invaluable for future attempts.
Summary
By mastering these skills, you'll not only secure better compensation but also grow professionally.
As always, keep in mind that UMGC Career Services is available to help you plan and achieve career success. Set up an appointment with a UMGC Career Advising Specialist for additional support in your career journey.
With over 10 years of experience in higher education, Kimberlee Wambua is a Career Advising Specialist at the University of Maryland Global Campus. She is dedicated to providing comprehensive career counseling to students and alumni, assisting them in identifying career issues, clarifying interests, and aligning values with career choices to achieve meaningful employment. Kimberlee holds a Master of Arts in Psychology with a specialization in Career Management & Counseling from the University of the Rockies, and a Bachelor of Arts in Sociology from George Mason University. Additionally, she is an ICF credentialed Certified Life and Wellness Coach.
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