How to Negotiate Your Salary

Whether you’ve just been offered a job or you’re gunning for a raise, negotiating your salary can be tricky. Perhaps you hesitate because you don’t want to seem ungrateful—you’re happy to have a job in the first place. Or maybe you’re scared countering a salary offer will lead to the offer being retracted. Or, quite possibly, you just hate negotiating altogether. Whatever your reason, we’ve all been there.

Bottom line, nothing should hold you back from negotiating for the salary you deserve. Instead of backing down at the next negotiation opportunity, follow these steps to navigate the dreaded salary discussion.

Step One: Do Your Research On Salary Standards

First, let’s take a step back. Chances are, during your interview process, someone will ask you about your salary expectations. This moment can be super daunting! Don’t panic. Come prepared.

Before your first phone interview, do some research. Scour the web for company review websites (think Glassdoor.com) and look at comparable titles within the company. Then, look at the cross-market salaries of people similarly situated in the industry. Use salary research tools like The Salary Project™ to look at salary data across industries, job titles, and years of experience.

Keep in mind that location is often a major factor in salary. Big city roles can usually command higher salaries because the applicant pool and cost of living are generally much higher. Also note how unique the role is—is this a common position where many people do the same work? If so, there’s probably less salary wiggle room than, say, a specialized position.

Next, evaluate how far you moved the needle at your current job. Make a bulleted list of the things you’ve accomplished and compare those to your original job description. Have you exceeded expectations? If your results are tied to actual company revenue, have those hard numbers handy as well. This is where you’ll humbly explain how talented you are and how your track record proves it.

Not that experienced yet? Be sure you’re fairly assessing the work you’ve actually done instead of what you think you’re capable of doing someday. We know how tough a low salary can be, but keep in mind, you have the rest of your working life to hit your salary goal! Right now focus on hard work and learning.

Step Two: State Your Salary Number

“Where do you want to be salary-wise?” the interviewer says so casually, you’d think she was asking if you’d like cream with your coffee.

Stay cool. This is where men and women tend to differ. Men often give a distinct number based off of market research and self-evaluation. Women tend to give a wishy-washy version of what they’d settle for. If you’ve done your market research and you’ve taken the time to validate what you bring to the table, state your requirements in a concrete fashion, then explain why you feel this number is appropriate

When the interviewer asks if this number is flexible, simply state you’d be able to reassess once you’ve seen the entire packaged offer. Keep in mind, your “package” could include anything from company equity, vacation days, and growth opportunities, to travel, bonuses, and even awesome office perks—free food anyone?

The younger you are in your career, the more I’d encourage you to consider career growth opportunities over money. Early on, choosing the place that is going to teach you the most will give you the opportunity to learn valuable skills, making you worth more in the future.

Step Three: Counter After the Job Offer

Once you’ve received an initial offer you have some serious negotiating power. They want you, and they’d rather get to a number you’re happy with than start the search all over.

Feel free to counter for more money if they’ve come in lower than your original salary requirement. If they have no flexibility in cash resources, appeal for more vacation days, a signing bonus, more equity, or even a greater annual bonus.

Stay within reason—keep your counter proportionate to the initial offer. Remember back to when the recruiter asked where you wanted to be salary-wise? Your counteroffer should fall within the ballpark range of their offer, so no one wastes the other’s time. Chances are you’ll land somewhere in the middle.

According to Linda Babcock, author of Women Don’t Ask, only 7 percent of women negotiate their salary while a staggering 57 men of men do. Those who did ask saw a 7 percent increase in compensation. So ask for more, ladies!

Once you reach an agreement, be sure to thoroughly review your offer letter, sign, and return it within 24 hours. And that’s it! You’ve successfully navigated through negotiating your compensation. Stand proud and let the real work begin.