5 do's and 5 Don'ts For Successfully Negotiating Your Salary

The art of salary negotiation requires skills of persuasion, diplomacy and business acumen. 

Those who are successful in their negotiation can expect a more comfortable life and will also feel better about themselves and their job. Negotiating a higher wage is not just about the money, but also an important way to measure how much your employer values your work.

Like everything in life, there are some do's and don'ts to keep in mind for successful salary negotiation.

We outline these below.

DO ...

1. Know your value

Go to job searching sites to find out what others in your role, industry and location are making. After you have a clearer idea of market values, you will better understand the range in which your salary should be.

2. Practice your pitch

Make sure you are prepared in what you want to say during the negotiation. Some people create a 'brag sheet' where they list accomplishments and testimonials to demonstrate their value. If you are negotiating a salary increase make sure you have been at the job for a year and look at ways in which you have exceeded expectations. Come prepared with data to show your success in the role.

3. Pick the right time

Waiting for performance review season may be too late as many managers have already budgeted for the increases of the year ahead. Prepare your boss by discussing the need for an adjustment months in advance. Ideally, you should do this at a time when your boss is feeling good about your work, such as at the end of a successful project. Look at the company's finances, and avoid asking for a pay rise when the company has just incurred a huge loss or is struggling due to a pandemic.

4. Walk away

Have a final offer that you just won't accept. It's important to have a bottom line and walk away if the money is lower than you feel good about.

5. Get everything in writing

Verbal agreements are great, however it is important to have a written agreement as proof that a salary increase has been agreed to just in case your boss later rescinds or forgets the exact amount which was agreed upon. It is important to document all you have said and include when the salary increase will be incorporated into your pay packet. .

DON'T ...

1. Undervalue yourself

When discussing a salary range, it is best to set the bar high and go to the top of the range as this will give you room to wiggle during negotiations. During the bargaining make sure you have a clear idea of your worth and demand to get paid at market value.

2. Get personal

Be professional at all times of the negotiation. Point to the facts and data as reasons as to why you deserve a pay rise. Avoid sharing personal details as to why you need the money or even express anger that you are not getting paid enough. It is important to be diplomatic, appreciative and gracious at all times of the negotiation. Focus on performance and future performance.

3. Be greedy

While it is important to have confidence and know your own worth, it is also important to empathize with your boss and also be reasonable in your demands. If you see that your boss is not budging despite all your efforts, then you know that it may be time to quit bargaining and reconsider your options.

4. Lie

Bluffing by telling your employer that there's another job waiting for you if you don't get the salary you want may be seen as attempted manipulation. Being caught out in a lie will be viewed as unethical behavior and will hinder your cause rather than help it. Bluffs usually backfire. Negotiate with integrity and honesty so that you have your employer's trust and respect.

5. Talk about others

Don't compare yourself to others in the company as this is extremely unprofessional and petty. Your goal is to increase your salary, not decrease someone else's value in the company. You can definitely draw comparisons by looking at average salaries for your role but don't refer to other people in the company and what they are doing during the discussion of your performance. Such techniques will harm you in the long-run.