You are about to discover the 3 most powerful salary negotiation secrets ever revealed.
Read these 3 secrets carefully and they will provide you with ALL you’ll ever need to know about getting paid the money you deserve for the rest of your career.
A word of caution: These 3 secrets are deceptively simple. And yet, if you’ll take the 10 or 15 minutes to read carefully every word right now, then you’ll understand
exactly why so many people all over the world end up losing $1000’s of dollars
everyday when the topic of “how much?” comes up! When you understand the game of salary negotiation clearly, you’ll realize just how easy it is to get paid AT THE VERY LEAST, every last penny a company is willing to pay you—instead of what YOU’RE WILLING to accept! And therein lies the key to a successful salary negotiation!
Money, money, money!
Everyone wants to be fairly compensated for his or her work. Many are not. Some are grossly underpaid. A small percentage of men and women, however, make quite a bit more than many of heir peers—in the exact same field! These are the people who know the key secrets of salary negotiation. Remember, it’s never too late to ask for a raise or negotiate a higher salary at a new position and/or company. It’s all about how you approach the topic and when to do it.
How do you get paid what you’re really worth?
How do you capture every last penny, that a company would be willing to pay you, without appearing greedy or demanding? How do you go about negotiating your salary and benefits when the time finally arises?
These are the questions I will be answering. So the next time you find yourself discussing your salary for a job, YOU will confidently and comfortably be equipped to NEGOTIATE the best possible deal the employer is willing to offer you and sometimes an even better one!
Entire books have been devoted to the topic of “getting paid what you’re worth”
(salary negotiation). But a book isn’t necessary. All you need is right here in my three key strategies that you can use to your big advantage so you can earn more money than ever before. They include tangible, practical skills that you can learn easily and implement quickly in important career areas. Too much information becomes overwhelming and thus, useless.
That’s what you’ll get right here. THE BIG 3 $alary Negotiation $ecrets that you’ll
use to beat ‘em at their own game. Trust me, it is a game in the “profit and loss” world of corporations. Don’t be fooled. If a company representative can hire you for less, you better believe he or she will!
THE BIG 3 $alary Negotiation $ecrets will provide you with the most simple, useful, and powerful techniques regarding this often misunderstood topic. Finish this e-book and you’ll feel empowered regarding a topic that makes most people squirm and ultimately settle for less. You won’t have to. The end result, and my wish for you, will be to put the power of negotiating YOUR salary back where it belongs—in your hands!
Let’s get started…
As simple as this sounds, before you can negotiate one red cent, it is absolutely crucial that you take a few minutes to assess your particular situation prior to finding yourself discussing a future paycheck!
First, you will need to have a solid idea of what people are being paid for the position you wish to acquire. Second, you’ll want to find out what kinds of “benefits” are being offered by companies to their employees in the same field. Remember, the “benefits package” is also another major form of compensation to you. Third, did you include your “salary history” or not?
As part of your job search, you most likely submitted a cover letter and resume to a particular company that has resulted in an appointment for an interview. Some companies want your salary history while others don’t ask for it. If it is not required, then leave it out of your cover letter and resume. Your salary history will be another determining factor when it comes time to negotiate.
First, you need to find out what others are being paid for the same position you’re
seeking. Get an idea of the highs and lows regarding their salary. In other words, find out the salary range for your position in your area. You can do this by visiting the following web site:
A fantastic resource for this exact purpose is:
The Salary.com Personal Salary Report
The Salary.com Personal Salary Report is a salary profile of where your pay range
could be expected to fall within your market. It shows how your qualifications and
education affect your pay. You can use the report to negotiate for a raise, a promotion, or a salary in a new job. The bottom line…your boss will know your market value…so should you!
Another helpful web site is Bureau of Labor Statistics (http://www.bls.gov/oco).
Every two years the bureau publishes, The Occupational Outlook Handbook. The book and the web site contain a wealth of information regarding, occupations, industries, positions, geographic regions and average earnings information.
In the “real world” offline, you can use your imagination, creativity and of course the good ‘ol fashioned telephone to ask questions of knowledgeable persons. Call up a temp agency, job recruiter, or perhaps a friend or family member. The point is to get an accurate idea of the salary range for certain positions. Take the time to do this first. It’s not difficult, and as you’ll see, it’s the foundation for successfully negotiating your salary with a prospective employer.
Note: Keep in mind that for some jobs, employers pay a specific starting salary without room for negotiation. It will be very obvious to you when you’re in this situation. If so, you can accept what is offered and then plan to discuss a higher salary down the road after you’ve proven your worth.
Second, consider the “benefits package!” Which benefits are most important to you? Write them down so you’re familiar with what to ask for and what you’d be willing to accept. This can be a fairly large portion of your overall compensation, ranging from 10% or 15% to as high as 25% or 30%. You’ve got health coverage, health plans, life insurance, holiday and vacation plans, retirement plans etc. to think about.
You can take the same steps here as you would when finding out the average salary for your field. Use the phone, the Internet, etc. Just make sure you do it! As the saying goes, “Knowledge is power.” The more knowledge you have, the more prepared you’ll be during the interview and negotiation process, and that preparation will lead to power—the power to get the job you want at a salary that’s right and fair for you.
Here is a list of some of the many “fringe benefits” companies offer. Obviously, these
vary depending on the position you’re applying for.
Insurance For Dependents
Automobile Allowance/GasCard, Etc.
Flexible Work Schedules
Which of these appeals to you? What is most important to you? Make a written list of
the benefits you desire most.
Third, sometimes company officials want you to include a “salary history” with your resume. This tells them what you’re used to being paid. This is a fairly common practice. However, I wouldn’t volunteer your salary history unless it has been requested. If you have already given this information to an employer, you can still
negotiate a higher salary, but the game changes a little.
You still have negotiation power even if the employer knows what you have been paid in the past. So don’t let this discourage you. In some cases this can be used to successfully negotiate more money than you’ve ever made before. The fact that your salary history is there for everyone to see can give you the opportunity to voice your
desire for more money based on your history, experience, and skills.
All employers know that people want to earn more. When you’ve included your salary history and the topic of compensation comes up, express your desire openly to earn more money.
This isn’t about greed; it’s about what you’re worth.
It can show ambition, drive, motivation and confidence in yourself and your abilities. Certainly these are the qualities all companies look for in prospective and current employees. Regardless of whether you’ve included your salary history or not, HOW YOU NEGOTIATE the best deal stays the same. Exactly how to negotiate your salary is revealed in Secret #3. So keep reading…
When you have NOT included your salary history, the employer won’t know what you expect. And if you’re not familiar with compensation for the type of position you’re seeking, you may enter the discussion ready to accept a salary that is much too low! You could be dismissed as a prospective employee simply for being uninformed—
and unprepared for this job!
For example, XYZ Company is more than willing to start you at $60,000 a year for a certain position and you enter the conversation satisfied with $25,000! The employer may view you as either unqualified or lacking the knowledge the position requires. Not a good start. However, suppose you said you were “comfortable” starting at $45,000 a year and the company was willing to pay you $60,000 to start. This is better than $25,000, but it’s still too low! What do you think the chances of them paying you the $60,000 would be? Probably not very good considering they can save $15,000 a year paying you the $45,000 you’d be “comfortable” with!
You just cost yourself $15,000 a year minimum by not knowing what they were WILLING to pay you! That’s thousands of dollars less per year for your talent and skills because you were “comfortable” settling for less. For the wise salary negotiator, he or she would get AT LEAST the $60,000 every time! After all, that is what XYZ Company was WILLING to pay for this position to begin with.
Here’s a case in point. A book author was invited to speak to a group of school children in Sacramento, California about his life as a full-time children’s writer. He was so flattered by the invitation that when the meeting planner asked for his usual fee, he was caught off-guard. He tossed out the first number that came into his mind. $500 for a full day. It sounded fine to him. The planner remarked that his request was well within her budget and she thanked him for that!! (Shrewd businesswoman that she was.) She closed the deal on the spot and promised to Fax him the written agreement that day.
Later, however, after speaking with a colleague about this opportunity, the man found out that other authors, for similar events at the same school, were paid $1,000. He had just LOST $500 because he had NOT taken the time to do his homework ahead of time regarding compensation for similar events at the same location.
On the other hand, a professional speaker I know (my mother, in fact!) was asked to give a customer service presentation to the employees of a mortgage company. The meeting planner offered $1500 flat fee for two three-hour programs. Mom countered by saying that her typical fee for such a day is $3000. Then she went on to ‘sell’ the meeting planner by telling her what she could expect for that fee. Mom was enthusiastic and upbeat. The meeting planner got excited. “You sound fabulous,” she said, “Let me see what I can do.” She promised to call back the next day after speaking with her boss, the president of the company, the one who made such decisions.
The meeting planner came back the following afternoon with a counter-offer of $2500 and permission for my mother to sell her books and tapes at the event (thus providing another means of income). They drew up the agreement that day. My mother—who was prepared, polite, and professional—just made herself an additional $1000 by being clear about the minimum she’d accept and then sticking to it—no matter what. She also had a solid idea of what they were willing to pay!
You can do the same! And you must.
As you will soon find out, the less you say the better it gets! So please don’t feel intimidated. This topic is much easier to master than you think. You just need to know when to keep your mouth closed and when to open it! I’ll show you how. Okay, after you do a little homework about your field’s salary range, you’ll be armed with the most powerful knowledge necessary to successfully negotiate the highest possible salary. Believe me, it’ll impress the employer when it counts most.
Let’s move on…
After you have a good idea what range of salary a particular position pays, next you should make a decision as to YOUR MINIMUM salary. What is the MINIMUM salary YOU’RE willing to accept? Take a close look at your finances, expenses, wants and desires before you decide what is acceptable to you. Lay it all out on the kitchen table. What are your monthly expenses? What do you want to purchase that you cannot currently afford to buy? Are you in debt? How much would you like to be paid so that you not only can pay all of your bills, but you can invest, save, purchase, donate, etc.?
Don’t just grab a number. Take the process seriously. Be informed so when the subject of salary comes up, you’ll be ready to discuss what you need with confidence.Then, of course, you’ll want to strive to exceed that number by being a wise negotiator, which is revealed next in Secret #3.
Once you’ve come up with this number WRITE IT DOWN! That’s the MINIMUM you’ll accept and no lower. Feel good about this decision and stick to your guns. This means you should be willing to walk away if the offer is lower than what will satisfy you.
It’s now time to join a very elite crowd of job-seekers. The tiny crowd of wise salary negotiators! PLEASE NOTE: The first two secrets accomplish a couple of critical things for you. First, you arm yourself with the proper knowledge so that some shrewd “priceshopping” employer cannot take advantage of you. And second, you stand firm in your decision for a minimum acceptable salary that not only meets your needs, but one that you’d be truly satisfied with. Now imagine how much more relaxed and confident you’ll feel after accomplishing these two simple, yet crucial tasks.
Here are the 2 GOLDEN RULES to salary negotiation…
1. Wait until the interview process is over to discuss salary and benefits!
2. Let THE EMPLOYER start talking first!
When you are certain you want a particular job, when you are certain this is the final interview, when you are certain they’ve seen you at your best, when you are certain they really want you… then and only then, do you let THE EMPLOYER TALK FIRST about salary. Do not respond to an employer’s question such as, “What kind of salary did you have in mind?” This is simply a way for the employer to get a figure out of you that is hopefully lower than what he or she is willing to pay.
Your response to this type of question should be something like the following: “I’m going to leave the salary and compensation issue entirely up to you. If you’d like to discuss how much the job pays and its benefits, I’d like to hear what you have in mind and then give you my thoughts.” The point is to throw the ball back into the employer’s court—as smoothly and politely as possible. Get the employer to talk numbers first and you’re almost always going to come out ahead in the salary department. Don’t forget this!
Delay the salary discussion for the end of the interviewing process and reap the reward$. If you’ve made such a great impression that they just have to hire you, they may at this point offer you more money than they would have if you’d discussed salary prematurely. Make sense? After all, why are they asking you what salary you have in mind? I’ll tell you why, because they’re hoping to find a bargain by getting you to speak first! Remember this!
Hey, it’s their company. Shouldn’t the employer know what he or she is willing to pay for the position? Of course he or she knows! The employer is just playing the negotiating game. If YOU play the game right, you’ll win. And you’ll even become more appealing to the employer because you know what you’re doing and you will be considered MORE valuable.
Think about this. You will be more valuable in their eyes when you go into the negotiation with this information because you will KNOW what you are doing. Your main skill is to politely and effectively deflect all attempts by an employer to get you to “talk numbers” FIRST AND EARLY in the interview process. DON’T DO IT or you’ll never find out what an employer is willing to pay you. If you start negotiating early and often, just the opposite will occur. The employer will now have some valuable money-saving information about you—what you’re willing to be paid! And if it’s lower than his or her number, bingo! You’re now a bargain! And that’s exactly what can cost you 1000’s of dollars! Be polite, respectful, interested, motivated, enthusiastic, and TOSS THE BALL BACK INTO THE EMPLOYER’S COURT!
Once you have arrived at an actual starting salary, it is at this point that you want to discuss the “benefits package.” You have already given some prior thought about what is important to you in the way of benefits. This is the time to use that knowledge! Again, all the same rules apply here as they did in negotiating your salary. Let the
employer speak first. You can get the ball rolling by asking a simple question like, “Could you please explain the benefits that come with this position?” At this point, zip your lips and just listen.
After you’ve heard what the employer has to say regarding his or her company’s benefits, feel free to communicate the ones that are most important to you. Be honest and speak openly. You’re already at the point of nearly landing the job. And as I said before, if you don’t get what you want, be prepared to walk away! Remember, all smart job-seekers have more than one cookie in the cookie jar. Don’t put all yours in one jar either.
The point I’m making here is that you could and should be negotiating with at least a few companies at once, thus giving you the leverage and freedom to choose the best deal that makes you happy and keeps you motivated to get up in the morning.
SIDE NOTE: You may find some great opportunities with some of the smaller companies (under 100 employees). And I believe the negotiations for salary can be more flexible with the small to medium-sized companies. That is not to say that some of the largest organizations don’t offer some great opportunities, as well. However,
many career experts advise job-seekers to apply to some of the newer and/or smaller companies. Please keep that in mind.
OK, we’re getting there! You negotiated salary and benefits. Things are looking good. There is one last item I’d like you to mention. A RAISE! Simply say, “I look forward to working here and am confident I can perform the job to meet and exceed your expectations. If I work hard and accomplish this goal, what can I expect in the way of a salary raise or bonus? And what are the typical time lines for my position?”
NOW you’ve covered all the compensation bases! So, let’s say that you really like what you hear, you’re officially offered a job at a salary your satisfied with, and benefits that meet or exceed your wants and needs.
There is one last thing you must do…
IMPORTANT! Once you’ve successfully arrived at an agreeable, workable, satisfying solution for a job, it’s time to GET IT IN WRITING!
Then send an Acceptance Cover Letter to the employer. ALWAYS request an EMPLOYMENT CONTRACT or a LETTER OF AGREEMENT to finalize what has been agreed to. Verbal commitments are not enough to start work on Monday!
Please read the above sentence three more times!
Negotiating a higher salary for YOU is all about knowledge, preparation, and knowing what to say and when to say it. As you have discovered here today, the less you say the better. Most job-seekers don’t understand that employers will almost always try to save money if they can acquire a good employee for less money. It is a bargain-hunting, money-saving, price-shopping game to the employer.
Now that you understand the “game” you can see how imperative it is that you get the employer to speak FIRST at the END of the interview and hiring process. It’s the reality of business and money. Why would they pay you more money if they don’t have to? Think about what will happen if you don’t come in prepared and knowledgeable. By the time you are finally earning what they WOULD have paid you (if you had been a wiser negotiator) it’ll be a couple of raises and a few years later! Don’t let this happen to you.
By the way, what’s the worst thing that can happen? You say NO to the offer! You already know what you need and what your minimum salary is and you are determined to get it. YOU won’t settle for less. That itself is an appealing quality to a prospective employer. Follow THE BIG 3 $alary Negotiation $ecrets exactly and you’ll get the most out of any company—every time!
The ‘BIG 3′ GOLDEN CHECKLIST For Quick Review…
- Research average salary range for the desired position.
- Research average “benefits package” and determine what benefits are most
important to you. Put them in writing.
- Define your minimum acceptable salary and write it down.
- Wait until the interview process is over to discuss salary and benefits.
- Let THE EMPLOYER speak first!
- Throw the ball back into the employer’s court—politely, yet firmly.
- Discuss the companies BONUS and RAISE policies.
- ALWAYS request an employment contract or a letter of agreement to
finalize what has been agreed to.
- Never settle for less than you promised yourself. You WILL find what you’re
searching for if you stay focused and don’t give up. This is the truth!
Now that you have the insight you need, don’t you dare settle for less ever again!