What is your worth? How do you convey your eligibility for a higher salary? This Get Hired video offers insight into how the negotiation process is approached and why it is often avoided. Whether you’re approaching your first job or have been steadily advancing your career for years, let’s take time to face some obstacles that can largely be self perpetuated. Apply some of these strategies to ensure you are actively advocating for yourself and the value you have to offer so you can reach your full potential!
Transcript
Salary negotiation is an important step to maximizing your earning potential and validating your worth in the workplace. In fact, according to salary.com, those that do decide to negotiate salary see an increase of over 7%. (gentle music) So if negotiating leads to a higher salary, why don't more people do it? Here are some revealing numbers. Only 57% of men negotiated the salary of their first job. Only 7% of women negotiated the salary of their first job. 60% of women say they've never negotiated their salary. Only 15% of women say they have negotiation skills. 55% of all employees say they need to change jobs in order to see a significant pay increase. I think the hesitation comes from two places. Number one, fear. It can be an awkward topic to bring up and the fear of rejection could be enough for some people to just skip it all together. What if they do not think you are worth what you're asking for? What if your request has lingering consequences within the workplace? These thoughts exist and they are hurdles that the employees must tackle head on. Dealing with the fear is easy. All you need to do is give yourself a little motivational talk to boost your confidence and come prepared. Number two, they just don't know how to negotiate a salary. As for how to do it, here are some tips. Number one, research the current salary trends in your industry via websites like Glassdoor or by speaking with industry professionals and recruiters. Know your value. Number two, keep a record of, and present your achievements, new skills and future plans. Be honest when asking yourself, do I deserve this pay raise? Number three, ask for more money than you want. This leaves a little buffer room for negotiation and gives you a better chance of getting the number you want. Number four, ask for a specific number, not a salary range. Number five, present a counter offer if need be and don't be afraid to walk away. Number six, be polite and professional, but firm. Do not make any threats. More people should negotiate their salary. According to the numbers, men seem to do it more than women. Regardless of your gender, salary negotiation could work for you and most hiring managers are expecting it. So know your value. Don't let fear get in your way and earn more money. (gentle music)
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