This post is all about how to successfully Negotiate Your Salary 2022
In this post we will dive deep into the best tips for negotiating your salary when you are accepting a new role.
Women continue to earn less, on average, for the same performance, and they remain underrepresented in top jobs.
The first study found that the starting salaries of male MBAs who had recently graduated from Carnegie Mellon were 7.6%, or almost $4,000, higher on average than those of female MBAs from the same program.
That’s because most of the women had simply accepted the employer’s initial salary offer; in fact, only 7% had attempted to negotiate. But 57% of their male counterparts—or eight times as many men as women—had asked for more.
That should be reason enough, but in case you needed more compelling thrush about why you should negotiate your salary, here it is:
Negotiating gets you more in the long run
- The average annual salary increase for your job will most likely be 3%, which does not keep up with inflation
- When you look for a new job there are many factors but one should be to allow you to have more opportunities, and more opportunities often come with more money
If you have not negotiated before, it means you are underpaid
- Your last job will haunt you, you need to close the gap for when you did not feel comfortable (it will never feel comfortable)
- If you don’t ask, the answer is always no
- Seriously listen to the episode to get why
Now that you know why it is important, let’s chat about the thing you must take under consideration when you are getting ready to negotiate.
You have to know what you want. Sometimes you aren’t confident negotiating because you don’t even know what you should get paid and that often has you defaulting to letting the employer decide for you. So do your research. If you really have no idea, because you are changing industries or are a brand new grad, here are some resources that can get you started:
- Stack Overflow
- Hired (US, UK, Canada, France)
Establish a generous budget
DO NOT use your current salary as a base line
Think more than the paycheck
Here are the top five tips to negotiating your salary with confidence
- Be aware of your misconception
- Be courteous
- Have a business case
- Be OK with silence
- Know your work and have confidence to walk away
You need to feel happy and well compensated because essentially you are going to be resentful that they did not pay you more.
That ends our conversation today about salary negotiations. I hope you had your notepad and paper ready but if not feel free to go back and pause the episode when needed. I hope to have you back for the next episode, over and out.
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