Know Your Worth- Negotiating Pay

Negotiating salary seems daunting to many people.  Whether you are just starting out or you are looking to get a pay raise at your current job, salary negotiation can be a difficult task. While it might seem intimidating, you will have much greater success in negotiating pay if you come to the table armed with the right information and the proper mindset.

Know Your Worth

First and foremost, you need to know what your monetary value is to a company before you have a set number in mind for your salary.  Going into a negotiation with an unrealistic number shows that you are not prepared for the conversation.  This can be unsettling for your employer, because it shows that you do not have an understanding of your value.  Before speaking with your employer, you need to figure out what you are worth so you can come up with a reasonable salary.  You can do this by consulting a salary calculating tool such as Glassdoor, Comparably, or PayScale.  These tools assist you by determining the average market value for your position.  You can also do research by speaking with a member of HR to determine the salary range for positions similar to yours.  Your salary worth is also tailored based on your skill level and years of experience.


Demonstrate Your Worth

Whether you are applying for a new job or pushing for a salary increase at your current position, you should always be prepared to emphasize the value you bring to the table.  What unique skills and abilities do you have that differentiate you from other candidates?  What accomplishments have you had in your current position?  Have you received any accolades or awards?  Have you increased sales or profits in recent months?  Are you exceeding all of your goals in your current position?  Take some time and jot down these important notes.  When you sit down to talk salary with your manager, be sure and make a case for yourself by reiterating your achievements and the value you bring to the company.


Be Confident

By doing your research, knowing your worth, and making note of your accomplishments, you can feel confident entering into a salary negotiation.  Be sure to bring any notes or points of reference to validate your desired salary.  Prepare for your salary negotiation by having an outlined strategy and practicing your negotiation beforehand. When you are confident in your ability and show your employer that you really do know what you are worth, you greatly increase your chances for a successful negotiation.