Reasons Why You Need to Negotiate Your Salary

Great news, you received the job offer, and now you’re wondering, “Should I go back and negotiate the offer?” And the answer is YES!  There are always exceptions to the rule, but keep reading to know why you need to negotiate.

I understand you might be nervous to have those conversations, scared if you negotiate the company will pull the offer, don’t know how to approach the conversation, and think it would be easier to just accept the initial offer. 

These are all valid concerns, however negotiating your salary is so important. 

Why You Should Negotiate Your Salary  

Most Offers Have Built in Wiggle Room

You might feel nervous or guilty going back to ask for a higher salary than what was offered, but most likely, they’ve expected that reaction — and their salary offer reflects that.

Studies and experts show that most companies expect a candidate to negotiate and are giving you an offer with that in mind to have some wiggle room to come back to negotiate for more.

Companies often have a set salary “band” for any given position.  For example, if an organization budgets between $55,000-75,000 for a Content Marketing Manager position.  Then, they present you an offer at $60,000, which is still on point for the industry standard to be competitive and allows room to go up if/when you negotiate.  Technically, they could offer an additional $20,000 without going over their range.

Show Your Future Employer You Know Your Value

Negotiating your salary shows your employer you are capable, confident, and understand what you have to offer.  Plus, these skills (confidence and competence) are ones your future company is looking for and will value when increasing your level of responsibility and future promotions. 

It Might Be a While Before You Can Revisit a Raise

You might be convincing yourself that you’ll just push for a higher salary at your first performance review.  But, you never have as much leverage as you do right now being the candidate they want.  Remember, they, too, don’t want to go back to the drawing board or select their 2nd choice candidate. 

Also, you never know what the situation might be a year from now.  The company could put out a hiring/salary freeze and not have the funds for your increase. 

The Worst-Case Response Is Usually a ‘No’

 It is very uncommon for a company to retract an offer just because you asked.  The only situation this might happen is if you handled the negotiations poorly and showed bad behavior or unprofessionalism.

If a company reacts negatively, it doesn’t reflect on you.  It shows more about that company culture, how they treat people, and show it might not be the best fit.

You’ll Earn More Income Now and Impacts Your Income for your Future

Standford negotiation professor Margaret A. Neal says it this way: Think of it for the long term.  $7,000 a year might not seem like much for one year.  But compare yourself to the person who negotiated. You take the $100,000 offer while the other person in your exact position negotiates to $107,000. With the same raises —35 years later, you will have to work 8 more years to have the same wealth as your colleague in retirement.

Now, the question is: $7,000 may not be worth the risk, but how about eight years of your life?

Help Close the Wage Gap

Studies show that women are less likely to negotiate than men. A study by Sheryl Sandber, COO of Facebook showed that only 7% of women attempted to negotiate their salary, while 57% of men did. And, of the people who negotiated, they increased their salary by over 7%. 

Also, according to Pew Research Center's latest review on the wage gap, women earn 84% of what men earn.  For women of color, recent studies show it's even worse. Black women earn roughly 63 cents for every dollar a white man makes, while Latinas make 55 cents.

 I know for myself I haven't always negotiated my salary. Feeling like it was confrontational, I didn't know how to approach it and worried I would look too aggressive. It took me a long time in my career to truly start realizing my worth, not listening to that stigma of "being seen as "aggressive or pushy," and encouraging myself to make the ask in negotiations.

 So, to all my amazing Badass women, make the pitch!

If You Don't Negotiate Now, You Might Regret It Later

One of the hardest things is you want a job so bad. Maybe you’re trying to leave an awful job, unemployed, or want a new job so bad that the thought of extending an offer a couple more days or weeks because you’re negotiating seems like too much.

I know salary negotiations can be so scary, and sometimes it feels like is it really worth it, but trust me, you don’t want to get the job and be there for years and always wish you would have just made the ask and be initially making $5,000-$10,000 more each year than you are now.

I can tell you from my own experience those few days of sealing the deal and negotiating far out way the regret you might feel from not negotiating. 

Imagine that in a year, you find out your colleague that started the very same day you did, in the same position, with a similar background and experience level, had a starting salary of $10,000 more than you solely because they negotiated. Trust me, negotiating upfront will be worth it!

 You'll never get what you want unless you ask for it

 This goes for so many aspects of your life, but especially in your job.  Again, the worst case is they say no, but you’ll never know unless you ask. Whether that's money, perks, benefits or responsibilities on the job.  What you want for your life to manifest can’t happen unless you put it out there and the potential benefits outweigh the risks.  

Mastering the Art of Salary Negotiation: A Guide to Securing Your Worth

Negotiating your salary can be one of the most intimidating aspects of the job search process. Yet, it is also one of the most crucial. Successfully negotiating your salary can significantly impact your long-term financial well-being and set the stage for your professional growth.

Here’s some tips to help you navigate the art of salary negotiation and secure the compensation you deserve.

Preparation is Key

Research Market Rates: Start by understanding the average salary range for your position in your industry and geographic location. Websites like Glassdoor, Payscale, and LinkedIn can provide valuable insights. Knowing the market rate gives you a solid foundation to build your case.

Understand the Company: Research the company’s compensation policies, recent financial performance, and any publicly available information about its salary structure. This knowledge can help you tailor your negotiation strategy to the company's context.

Self-Assessment: Reflect on your skills, experiences, and achievements. Be ready to articulate how your unique qualifications and past successes make you an invaluable asset to the company. Highlighting specific examples where you added value in previous roles can strengthen your position.

Timing Matters

Wait for the Offer: It’s generally best to wait until you have a formal job offer before discussing salary. This gives you more leverage as the company has already decided they want you.

Strategic Deflection: If asked about salary expectations early in the process, try to deflect by saying you’d like to understand more about the role and the company before discussing compensation.

Final Thoughts

I know you could have read all of this and are still nervous about negotiating your salary.  But, the more you negotiate, the better you’ll get.  And, you’ll never know unless you ask.  So, go for it, negotiate with confidence. You got this!

- Melody Joy