It may make you uncomfortable, but its extremely important.
Heres how to get what you want out of a negotiation.
This is a guest post from J.D.
Roth, who founded the blogGet Rich Slowlyin 2006.
Roth wroteYour Money: The Missing Manualand was theYour Money columnistfor Entrepreneur magazine.
This article is one piece of this course.
Base this on careful research using tools likeSalary.com,CareerBliss.com,PayScale.comandGlassDoor.com.
This information will give you power.
But research isnt enough.
Remember thatthe purpose of a job interview (or performance review) is to sell yourself.
If you dont believe youre worth the price youre asking, your employer wont believe it either.
Focus on the value you bring to the companynot what comparable salaries are.
In that case, pitch your enthusiasm and work ethic.
At the very least, ask for about 10 percent more than what youre offered.
Now lets look at two specific salary negotiation methods.
As youll note, theyre very similar.
The Noel Smith-Wenkle salary negotiation method
Noel Smith-Wenkle was a job headhunter during the 1980s.
Smith-Wenkle says this will suffice about 40 percent of the time.
If the company asks a second time, your answer is: I will consider any reasonable offer.
This is a polite stalling tactic, and Smith-Wenkle says this will work another 30 percent of the time.
About 30 percent of the time, youll reach this final step.
Once the company makes an offer, there are two options.
If the offer is above your minimum, take the job.
If its below your minimum, tell them its too lowbut do not say by how much.
The same is true of raises.
Discuss a salary increase after you have your performance review.
Lots of people find it awkward to evade direct questions about salary history.
For these folks, Chapman has a section of his website that explainshow to answer questions about salary expectations.
(See also Penelope Trunksadvice on discussing salaries.)
When you hear the offer, repeat the numberand then stop talking.Chapman calls this the flinch.
The most likely outcome of this silence is a raise, he says.
This technique buys you some time to think while putting pressure on the employer.
Often theyll come back with a higher offer.
If you want to hear more from Chapman, he hasan entire website devoted to career management.
The biggest mistake it’s possible for you to make is to not negotiate at all.
The courage to negotiate is especially important for womenmen are four to eight times more likely to negotiate salary.
Most companies are willing to negotiate salary, but most employees never give it a go.
Be prepared.Research a fair salary.
Figure outhow much you wantbut ask for a bit more to leave room for compromise.
Practice negotiating your salary.
Sit down with someone you trust and role-play the experience.
Record yourself so that it’s possible for you to find your flaws.
The more you practice, the more youll feel comfortable during the actual interview.
Be silent.During salary negotiations, its often best to let the other side do the talking.
Be persistent.In many cases, the employer will reject your first request for a higher offer.
Dont let this deter you.
Push back gently, justifying your proposed salary.
Explain how the company will benefit from the investment.
Be patient.The deeper you get in the process, the more committed the company is to hiring you.
Do not mention your current income or your salary expectationnot even on the job program.
If you do, you provide an anchor for the negotiation, and that can only hurt you.
Wait for the employer to make the first mention of money.
Be flexible.If the company wont budge on salary, negotiate other compensation.
Ask for things like an extra week of vacation, a private office, or a flexible schedule.
Finally, Ramit Sethi offers afree one-day mini-course on negotiation, which includes tips for negotiating your salary.
This article was originally published in 2014 and updated on March 6, 2020 by Elizabeth Yuko.
