Work is an essential part of our lives. We often spend more time at work than with our partner and our children. That's precisely why it's best to make sure your work brings you fulfillment and happiness! But no matter how nice your job is, it's not nice if you feel you're not earning enough. So at some point you have to talk about your salary; during your job application, or later during a salary negotiation.
Many people find it quite difficult to negotiate their salary. And yet you cannot and should not avoid it because there is nothing more demotivating than a salary you do not feel happy with! Besides, negotiating is really not that difficult. We actually do it more than you think, almost daily, consciously or unconsciously. You negotiate with your child (if you eat your plate now, you can use the tablet later), with colleagues (who takes the minutes of the team meeting?), with your partner (I'll cook tonight, but will you do the shopping?).
You negotiate whenever you want to get something done from someone, or whenever someone wants something from you. Everyone defends their own, often conflicting interests. You need each other to achieve your goals. Through good, open-minded communication, you come to a solution, to a win-win for both parties. You don't have to be a super dominant and competitive pit bull to negotiate well. On the contrary, the best negotiators are empathetic, flexible, cooperative people.
So it's a communication skill we all have!
And yet, when you have to negotiate your own salary, the anxiety sweat breaks out. That's because it's about yourself and your own earnings Many people find it hard to say "I'm worth more. That's why athletes and artists take a manager under their wing who can say that for them? But it is purely about finding a good balance that both parties will feel good about in the end. You give something and therefore can expect something in return. It's a negotiation, not an act of charity.
The most important key to success is preparation in the first place! Before you can start negotiating, you must be well prepared for that conversation.
- Determine how much you really need for your living expenses. That is your absolute minimum, your lower limit, your no-go in the negotiation (you only need that for yourself?).
- What is a market wage? What does the labor market pay for the job you do or will do. It is important not to price yourself out of the market, but at the same time, don't underestimate yourself either.
A salary is determined by a number of factors such as position, region, sector... You can research this online or ask around within your network. Also check with recruitment agencies. They are often very well informed about prevailing wage budgets.
- What is your "happy" salary? What will make you feel happy? This can be quite a bit higher than the market salary, and there is nothing wrong with that. Feel free to position yourself high in the market if you have the right arguments to show that you are worth it. However, it is important to remain realistic.
- Look at the total picture! Remember that pay is more than just your gross monthly salary. Also consider flexible schedules, overtime compensation, extra leave days, work from home, training offerings, meal/gift/eco/sport vouchers, group insurance, health and hospitalization insurance, bonuses, profit sharing, stock options, in-house sports opportunities... These are sometimes very valuable parts of your total pay package but not always so 'tangible'. Sometimes you are much happier with a day's work from home per week than with 100€ gross more per month...So in your preparation, think carefully about alternative rewards and determine your personal priorities. This broadens the field of negotiation and creates creative opportunities for both parties.
- Define your strategy. What goal do you want to achieve? Aim high! Make a list of all your USPs (unique selling points). What added value will you be able to give? What makes you unique? Make it clear what you are worth and convince the other party of your talents, drive and enthusiasm. Write out some of your success stories so you can easily surface them when needed. That way you will make an indelible impression!
And to end: don't give up too quickly and remain respectful, with integrity, positive and creatively constructive throughout the negotiation process!
Negotiation requires empathy for the other party and patience. Actively listen to what is said and maintain a helicopter view so you can adjust your strategy as needed during the conversation.
Want more tips on salary negotiation? Know that this can also be addressed during a career coaching session. A career coach often has many years of labor market expertise and is thus very well placed to advise you on this topic.