Thread on negotiating your salary for your first job, a new role, or a promotion. Please follow this. And share.
A study by Linda Babcock found that only about 7% of women attempted to negotiate their first salary, while 57% of men did. And for those who negotiated, they were able to increase their salary by at least 7%. This thread should help you prepare for negotiation.
KNOW HOW MUCH YOU ARE WORTH: Before having a discussion per salary negotiation, you need to work out your value in the industry. Your value will be dependent on factors such as your skills, capabilities, competencies, qualifications, and years of experience in the industry.
PLAN WELL IN ADVANCE: You need to do your research about a company & what they currently offer their employees, especially those at the level you are being recruited for. And be ready to ask for more. If you already work for the company, plan in advance before meeting your boss.
BE CONFIDENT, ASSERTIVE, AND OPTIMISTIC: You need to be confident, assertive and optimistic when having the discussion about salary negotiation. Be positive and sell yourself excellently to the recruitment panel or to your boss.
MEET YOUR OBJECTIVES/BE QUALIFIED: If you have spent some time in a company & want a salary raise, make sure you have met your objectives and have delivered tangible results for the year. This should strengthen your case. If you are just being interviewed, being qualified helps.
When asked how much you want to be paid, you can craft your response along the following lines:
•I understand you pay N150,000 for a similar position. Based on my skills, experience, what I am bringing on board, and the roles and responsibilities I will be taking on, I expect to be paid a bit higher.
•From my research of the role and your company, I would accept an offer of N300,000 as my starting salary.
•You can also turn the question around and ask the interviewer or interviewing panel for a range. Then, make a higher demand than what has been offered.
•You can also turn the question around and ask the interviewer or interviewing panel for a range. Then, make a higher demand than what has been offered.
It is important to note that you will not always have your way when negotiating your first salary or a salary increase, or in structured companies where the salaries are fixed. So, there is no harm in trying. But please be flexible. Good luck.
