Why You Should Feel Comfortable Negotiating
Negotiating can be a scary endeavor to overcome. But when we think about it we’ve been negotiating all our life so why do we let negotiating in our career path scare us so much?
It may be because your boss is intimidating, you’re afraid of denial, your company doesn’t feel you have the “right” to negotiate or you don’t want to threaten your job offer, internship offer or current position with the company.
Let’s start here.
YOU deserve to have the comfort to negotiate.
YOU deserve to have a voice in what you believe you deserve.
But YOU are your biggest or small obstacle when it comes to asking for what you want.
I’ve had the difficult conversion with a few bosses on negotiating and have never left a conversation feeling defeated or misunderstood, so don’t let negotiating scare you! Don’t let the taboo of negotiating for a raise, promotion, benefits, etc. scare you. It’s never discussed how you can bring up these tough conversations so here are my best tips to bring to the table when negotiating.
My Best Tips Overview:
Be confident & firm in what you’re asking for - know what you’re asking for!
Be ready and comfortable negotiating with a counteroffer
Be flexible
Don’t cave in and accept the first counteroffer if it’s not what you’re looking for
Do your research
Be prepared
Be your own hype man
Asking for a Monetary Raise
Before even bringing up the conversation of negotiating with your boss you need to know what you want. And let’s be firm about this. It’s important to have a number in mind that you would be happy with (or maybe more than happy). If you’re bringing up this conversation, be firm in what you’re looking for and expecting your boss or company to consider.
I encourage you to bring to the table a little more or be very firm about the amount you’re looking for. A company will likely counter your request with a lower amount/benefits/etc. Don’t undershoot yourself when giving a specific number you’re looking for, it’s likely you will have to compromise with the counteroffer and you don’t want to low ball yourself before the counteroffer even comes.
Example: If you’re asking for $50,000 but your boss immediately offers you $47,000 you don’t need to feel pressured to accept right away. You have the right to take time to consider the benefits, pros, cons and if it’s realistic before accepting.
Make the Monetary Raise Sound Reasonable
Break it down for them. Let’s say you’re asking for a $3,000 raise to your annual salary or an additional $5 to your hourly rate. BREAK THIS DOWN FOR THEM! How much does this look like after taxes? How much is being added to your bi-weekly pay? Exactly, it gets small. And your employers like to see small increases that will make you happy. Your $3,000 raise you’re asking for is only adding $100 to your paycheck bi-weekly! I can guarantee $100 to your company is pretty minimal regardless of what it is to you.
Lastly, let’s say your boss counters your $3k ask with “You know you do deserve a raise, how about we do $1000 for now and in 3 months we come back to this?” Many people under the intimidation and fear of rejecting their bosses offer will say “Yeah that’s fine, we can talk in 3 months!”
But is this what you’re looking for? Is this what you deserve? Sometimes you have to accept what your boss can offer (based on company finances, etc.) but other times this is where standing your ground and expectations is KEY. You have all the right to counter your companies counteroffer. When negotiating leave everything on the table.
Show Them Your Results & Prove Yourself
This is your time to shine! Most importantly a raise isn’t a raise without a reason you deserve it. It’s one thing to ask for a raise but it’s another to SHOW them WHY you deserve one. Collect all of your achievements, “going out of your way” projects and exceptional work habits/attendance/holidays/etc. to show them how valuable you are!
You may feel like you deserve a raise but you want your boss to see that you 100% deserve a raise! Do this by making a list of things you did that you never had to do (or weren’t asked to do) and also where you exceptionally performed for a client or work need. Your boss knows you’re great but you may need to remind them and this is YOUR TIME TO SHINE! Put your work into results, quantifying measurements depending your industry and what value you have brought to the company!
Example. “Took on an additional 5 clients unexpectedly and increased their impressions, reach, following and organization when we were in need”
“Achieved amazing results for a client campaign during the holiday season that grew sales by $$ for the 2018 Holiday season”
“Shortened my PTO or holiday time due to the office being short on employees to ensure we performed how clients expected (or worked extra hours, weekends, etc.)
Preparation is KEY!
If you don’t believe in yourself and bring confidence into the discussion than how is your boss supposed to? PRACTICE, PRACTICE, PRACTICE! These are uncomfortable conversations for ALMOST EVERYONE! Practice with your friends, mom, in the mirror, write it down, ANYTHING that helps you feel ready and prepared to exert confidence and calmness when discussing your negotiation. Feel comfortable standing your ground and being confident and firm in your ask.
Research
Do your research! This is information readily available to you AT ALL TIMES! There’s no excuse! So far you have proved to your boss why you’re worthy but now let’s show them what is expected in your industry, field or position. That’s right, get your googling skills going.
Come into your meeting with hard facts at what the industry average is or what other individuals are being paid in your similar area. Now you cannot go showing Marketing Entry Level positions in New York are making $75k while you are working in Ohio. The cost of living is different everywhere so make sure to be as similar to location, company size, company structure and position as you can be. Let’s face it, no one can deny facts and every employer knows the risk of an employee leaving for a competitor. The ball is in your court!
Let’s Be Real for a Minute
Let’s take a step back. Everyone is human. We all understand that life happens and circumstances change. No boss, employer, manager or CEO can deny this. REMEMBER THIS! If you are asking for a raise for justifiable reasons, don’t be afraid to share those! Maybe your student loan 6-month period is ending soon and your student loans will be another monthly expense, you’re moving out on your own, supporting your siblings, purchasing a new car, medical bills or anything! Now remember, increasing your living expenses is in your control and you cannot expect sympathy from an employer but you can help bring light to their eyes on why this raise would help you.
Signing Contracts
Contracts can be tricky. It’s stability and peace of mind for both you and the employer, but be careful. Understand what you’re signing to the company and think big picture when doing so. When a contract is signed it’s signed whether it’s an offer letter, another year of employment or 3 month internship offer letter. It’s signed. Your time is valuable, VERY, so be weary of this when you sign over “another year with the company for an additional $x raise.” There can be glory and promise in contracts for you knowing your employer is being held to their word. There also can be misery knowing you signed your life for another 1 year for a $3k raise. You also have the right to add in benefits when signing a contract such as a moving stipend or signing bonus. Always ask, the worst you can hear is no!
I Want to Negotiate but my Company Can’t Offer More Money
I’ve been there! This is sometimes your best situation, you get to get creative with what you’re asking for! We always look to the dollar sign of how much you’ll be making at a job but this isn’t all it once was.
The millennial generation has cracked this code and very well if I do say so myself. We are learning our time, vacation, work-life balance or company benefits are worth more to us than money - FINALLY! If you know your company doesn’t have the financial stability to give you a monetary raise, time to get creative! Here are some ideas of what you can get creative with.
Additional PTO or Vacation Days
Work from home (1x week, 1x month, etc) - Depending on company
Company benefits
Company stock options
Flexible hours
& so much more!
Examples of What I’ve Negotiated
As I said, I’ve been there. I have been nervous, unsure of my ask and shaken to bring up the conversation. You just have to practice to get better! I want to share some of my asks and what I accepted to show every situation is unique!
Asked: For an additional $6 raise to my hourly rate due to commuting more than 30 minutes a day multiple times a week.
Received: The offer in full! Got my $6 raise which made a BIG difference to me at the time.
Asked: For a substantial amount of money to cover relocation cost for an internship/FT job.
Received: The amount I asked for and agreed on a signed contract for duration of employment.
Asked: To move to a new store across the country and new departments that I knew had greater sales and more opportunities.
Received: The transfer was approved after proving my sales quotas could all be met to do so!
Asked: A raise after 1 year due to another 1 year being met in the future and staying at the same company.
Received: The raise!
Asked: Received intern-housing paid for and in return for paying taxes on this housing during tax season at the end of the year.
As I said every situation is unique and every example above had its own circumstances and company cultures that I understand and narrated ahead of time. You got this!