April 9th, 2019
Negotiating is a skill we all practice throughout our lives personally or professionally.
Whether it’s negotiating what restaurant to eat at on the weekend, where to live, what movie to see, etc.
In our careers, it’s no different and many times, it’s in our professional lives we seem to get tripped up and don’t consider ALL our options as we consider what’s important to us, especially when we’re interviewing. With enough experience, practice and time, it’s a skill that can be nurtured especially when it comes to negotiating money.
Most candidates when they’re interviewing think of the monetary benefits they’re hoping to earn – a bump on their base salary as they consider their next move. Salary and bonuses are usually at the top of the list amongst a number of other motivators that are important when interviewing. Depending on what’s driving your move and desire to change, they may vary in level of importance.
So why do we get choked up when it comes to asking for money?
The truth is, most people are uncomfortable asking for what they want, especially money and more importantly, are not always prepared for the discussion or how to ask. When I was in the very early stages of my career, I remember sitting across from a manager I had at the time who I admired and happened to be male and I flat out told him, “I hate asking for money…” and his answer to me was, “why? You work hard, you’re performing, you should ask for what you want.” That’s it. Nothing complex, no long lecture, just, ask for what you want.
Of course, there’s more to it and it takes time, experience, practice, etc. to get comfortable with negotiating (and personally, I’m still working at it), but I never forgot that.
Remember, if you don’t ask, the answer will always be NO so if there’s anything you take from this post, ASK for what you want!
When you’re interviewing and you’re lucky enough to make it to an offer stage, here are some suggestions to keep in mind:
Be open and transparent with your salary expectations – this should really be shared before you get to this stage as most companies will want to understand if they can afford you at the early stages of the interview process. The last thing you want to do is go through a number of interviews only to reach an offer stage and learn the company just doesn’t have the budget to meet your salary expectations. Having said that, be clear with what you’re looking for – i.e. 10% increase on my base, $10K sign on bonus to cover X, etc.
Be prepared to negotiate ALL benefits – as mentioned earlier, everyone has various motivating drivers that are important to them and salary is not always the main and only benefit of interest. What else is important to you? Work from home? Vacation time? Commute allowance? Think about what these options are. Also, consider discussing what the flex is around these items early in the process. Some benefits are company-wide policies that are less flexible to be offered to new hires coming on board. Again, be prepared to discuss openly the benefits that are important to you.
Ask a trusted colleague or friend if you’re unsure of how to deliver your message and articulate what you want – again, for the purpose of asking for what you want, if negotiating isn’t something that comes easy to you, practice ahead of time with someone you trust and know. Ask them to role play with you and ask for feedback. We don’t always see our own blind spots, so asking for someone else’s perspective can be helpful.
Be prepared to get a NO to what you asked for – so this is not always easy to hear and can be deflating especially if you’re trying to seal the deal with a company and new opportunity. Going back to the above, consider other options you can negotiate, but also, consider this to be a sign that it may not be the right fit if none of your requests or asks were met. This isn’t about giving up and walking away, however, if you’ve made every effort to explore and consider ALL your options, the one to walk away is also one to consider if you’re requirements aren’t met.
Now, I’d love to hear from you! What would you add to these suggestions? Is there a negotiation strategy you’ve used that’s been effective?