Salary negotiation is key to ensuring the offer is the one you want and that you get the compensation you deserve, yet so few job seekers know how to handle this part of the job acceptance process. Truthfully, salary negotiation is an art: not handled properly, you could end up with a lower salary or loss of the offer altogether.
Here are common salary negotiation mistakes that hurt job seekers every time.
Not Negotiating at All
This is the biggest salary negotiation mistake anyone can make. It’s also the most common as job hunters usually accept whatever salary is offered because of fear of challenging a new employer. This decision only leads to frustration as making less sets you back financially and can lead to dislike of the job. But never talk salary unless it’s brought up, and even then, try and give vague answers until the company’s ready to make you an offer.
Revealing What You Would Accept Too Early
This can be a hard issue to deal with as, at some point in the process, someone is going to ask what kind of salary you’re looking for. The earlier they have this information, the less negotiation room you have. Know what others in this position make so that you have a starting point. But never talk salary unless it’s brought up.
Focus on Value, Not Your Wallet
Many salary negotiation mistakes stem from job seekers basing compensation on what they want, not what they’re worth to the organization. Keep in mind what others make in the industry, your experiences, skill, and talent, and that value to the potential employer.
Not knowing the salary range of the position you’re seeking shows laziness. The Internet is flooded with resources that can tell you how much you or a position is worth in the market.
Keep It Professional
Do approach negotiations with the understanding that if you have the offer, you are their final choice. Avoid many salary negotiation mistakes by staying gracious and polite. If it doesn’t work out, thank them for the opportunity, send that thank-you letter, and move on. And remember, if the employer can’t pay you what you’re worth, you wouldn’t have been happy there.
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