Most job seekers can expect to negotiate salary at some point in their careers. A competing offer gives you leverage to negotiate salary with your preferred role. However, what if you don’t have another offer to use as leverage? In this case, negotiation isn’t off the table; it simply needs to take a different form.
Let’s take a look at how to set yourself up for success by negotiating a higher salary, even without a competing offer.
1. Know Your Value
Know your worth! Research the salary for similar positions. Look at the requirements and qualifications of those careers, and highlight the accolades that make you qualified to take the company to another level. Once you know what the market is paying for your skill set, it’s time to do some negotiating.
2. Highlight Your Unique Skills
Speak in terms of how you will help the company succeed. When highlighting a skill, make sure you’re tying it into a tangible benefit for your employer. This strategy is especially effective when you focus on how your skill set will make their job easier as well.
3. Prepare To Hear a No
If you don’t have a competing offer, the best thing to do is to be prepared for what may happen. Go into the negotiation with a minimum number in mind that you’d like to accept. Have three different numbers that you will offer:
- Your stretch number
- Your ideal number
- Your minimum number
Suppose your first request for a higher salary is declined — which is a likely scenario. Your negotiation efforts haven’t necessarily failed, as your new employer may come back with a different number. If they propose anything above your minimum, you can graciously accept it. If they will not take anything at or above your minimum number, it may be time to start considering non-salary negotiations.
4. Think About Non-Salary Negotiations
If you don’t get the base salary you want, you may be able to negotiate big ticket items such as relocation, signing bonus, work schedule, or vacation and PTO. If relocation is offered as an option and you’ll have to move for the job, it’s worth asking how much of your moving costs will be covered by the company.
Another important negotiation item is your schedule. See if your schedule can be adjusted to work around your personal needs. Some employers are willing to offer more flexible hours in exchange for working on weekends or late nights. It might also be possible to trade some paid time off for overtime.
5. Stay Calm and Confident
Even if you have a competing offer, it can be hard to negotiate a higher salary. Above all else, confidence and poise speaks volumes in negotiation.
Every word you say in this situation will have more impact when said with confidence. This is especially important when you make your value proposition known to the company. Employers will respond to your conviction and be more likely to trust you to take the company to the next level.
Don’t Leave Money on the Table
Recent polls show that only 44% of employees even attempt to negotiate their salary. Eighty-four percent of employers in that survey reported they expected a negotiation attempt from their candidate.
Pathrise can match you with an experienced negotiator to help you negotiate 10% to 20% more money on average, with or without a competing offer. Apply today.