In this blog, we’ll share five practical strategies to help you, not only assert your worth effectively but also improve your chances of negotiating a better salary in the face of stiff competition.
Step 1: Do your research
Begin with a comprehensive analysis of the industry standards and salary benchmarks for the role you want. In the past, finding industry salary benchmarks was not easy, and you often had to rely on asking your friends about their salary or just trial and error. While your personal network is highly valuable for discovering new opportunities, it may not be the best source for accurate salary information. Luckily, platforms like Tabu.hr have simplified this process, offering insights into industry standards, salary benchmarks, and compensation norms tailored to your role, experience level, and location. Armed with this data, you can confidently present a reasonable salary expectation during negotiations.
Step 2: Know your worth
When negotiating, move beyond just outlining your daily tasks. Take a moment to spotlight your noteworthy projects and emphasize the real impact of your work (problems you solved, users you helped), rather than just listing the responsibilities. Quantify your achievements by highlighting how your skills have positively influenced your previous employers. By focusing on measurable outcomes, you make a stronger case for why you deserve a higher salary, aligning your request with your track record.
Step 3: Timing is everything
We value transparency and open discussion, especially when it comes to salary expectations - that’s why we post our salary ranges in the job ads. Even with that in mind, it’s usually a good practice to learn more about the opportunity first. If your initial questions revolve just around salary, it can be perceived negatively. Allow the employer to initiate the discussion, or if possible, postpone the salary talk until a job offer is extended. This approach ensures that negotiations happen from a position of strength, leveraging the fact that the employer has already expressed interest in bringing you on board.
Step 4: Salary is not everything
We all value salary and want to maximize our earnings. However, it's important to recognize that salary isn't the sole component of a compensation package. If the employer is unable to meet your salary expectations (but you like everything else about the role), exploring alternative benefits such as remote work options, flexible schedules, tax benefits, health benefits, and professional development opportunities can significantly enhance the overall value of the job offer.
Step 5: Remain professional
During the negotiation process, it's always good to stay professional and to steer clear of emotional reactions. Talk about your expectations clearly and directly without unnecessary explanations or aggressive demands. A calm and collected approach creates a more collaborative atmosphere, enhancing the likelihood of reaching a mutual agreement. Additionally, be prepared to stand firm on your bottom line while remaining open to reasonable compromises - this is something that can benefit both parties during the negotiation process.
In the over-saturated job market, mastering the art of salary negotiation is indispensable for those aiming to secure a better compensation package. You can use these strategies to, not only help you navigate the negotiations effectively but also to establish a mutually beneficial employer-employee relationship.
And of course, a bit of self-promotion in the end - our start-up Elevien is hiring! We are looking for iOS and Android Developers, as well as Software Testers. If you are interested, let us know — your next career move might just be our perfect fit.