10 Things To Know To Crush Salary Negotiation

there is a lot we have to cover I'm giving you ten things too I want to help you crush salary negotiation let's talk money [Music] okay everyone so a lot of you have been asking for this video and I'm happy to finally deliver but if you are new here my name is Cassandra and I help people by giving practical tips to gain career confidence and achieve those career goals so let's dive right in tip 1 you should always try to negotiate no matter what position always at least try to negotiate they are not going to rescind the offer you need I just did everything you need to know that it would be very very unlikely that they would rescind just because you tried to negotiate or you gave a number that's too high we will get to that one in a little bit thing number two you need to know your worth and you need to know what the salaries worth might be so on the salary side you need to do your research are you on Glassdoor are you on linkedin are you on all those salary websites seeing what's typical in that range in your area you should do your research so you're not going in blind then this is where knowing people comes in real handy y'all if you know somebody well enough they will talk money we act like people won't talk money but if you get nothing else from this video please know that if you start to develop friends in a certain industry or certain companies you can ask them like hey I'm looking at this position I'm not quite sure how much it makes I can't really find the salary range is you know $40,000 difference I don't know can can you give me a ballpark of what you think entry level would be they will tell you people will tell you a ballpark of what they make but then you need to know your worth so this is important for two reasons one your Worth might be different than that friend who's worked in the industry 10 years so if they said I'm making 80 thousand but it's showing the starting range is 40 no you're not gonna make the 80 they are so you need to think about your worth in terms of what you might not be worth but then the bigger issue is people tend to undervalue themselves so I want you to write your list of all the reasons why you're worth a higher number if do you have past experience in the industry do you have experience in a different industry or a different skill set that you think is an asset because it makes you a different member of the team I had a really weird set of skills to be in the job I'm in now that other people would not have and I leveraged that why it would make me a better candidate got the job so I leverage that for why I should get a certain number as well think about all your skills and write all of those down things that cannot go on this list for your worth are your rent your mortgage your childcare your groceries that's not why you get this number you get this number because of the things you bring to the table so I have had a lot of comments on the video about 10 things to never do in an interview saying how dare you say we never talk about money that I should never ask that I should just go in and have no clue what this position is for okay that depends on the industry and I didn't say you should never ask I meant it more of you don't say it like so how much would I be making if you start with a recruiter in this process you have every right to say you know I would hate to waste your time going forward and hiring managers time if this isn't a good fit monetarily I know you can't give me a hard set number but is there any way you could possibly give me the salary range so we know if this is worth moving forward that's perfectly fine it shows you're being respectful to them now please notice I did not say I would hate to waste your time and mine I said I would hate to waste your time focus on them you're trying to give them the benefit of the doubt of like I know you got a lot of people to connect with and I would hate for us to walk all the way through this process and not figure out if this is a good fit now that works if you're talking with a recruiter first in my experience especially if you found the job through networking you often don't do a recruiter screener first you go straight to the hiring manager and that's like the real interview right and then sometimes HR has to come around later and like talk to you for a couple minutes it's kind of a weird thing let me know in the comments if you've been through it that way I have many times I if that happens it is not the appropriate time to ask about salary yes you should not go in blind to an interview process but this is why you should be doing all your research online to see if going through this process is even worth your time they might not be able to tell you in that call if it's with a hiring manager they might not be able to tell you in that time but if you've done all your research you're fine going farther in the process to them to find out later on once the offer has been made but if you start with a recruiter ask in that first call just don't say how much money would I be making or like I need to see if this is even worth my time to continue no I would hate to waste your time would you be able to let me know what the salary ranges for this position so we can see if this is even a good fit to move forward all right number four you need to always ask for the top of the range or at least higher than what you're wanting so this seems to make sense right because this is a negotiation if you want $50,000 don't ask for fifty thousand they're going to counter with something less they're always going to come in less so if they've given you a range of 40 to $50,000 ask for 50 because you might get 45 okay or going with if you want $50,000 and they've sent the range is 45 thousand to fifty five thousand asks for the fifty five thousand now some of us work in industries where they're like this out true story the salary range is between forty and seventy thousand dollars my first thing to you would be you can totally ask for the seventy thousand they might think you're a little crazy but they will not rescind the offer please remember that they're not gonna rescind the offer they you're gonna say oh I would like 70 and they're gonna go uh-huh and then they'll come in with a number they can actually give so keep that in mind what I think might be slightly better is think through that number you want so let's go with this forty to seventy thousand range you want fifty thousand dollars they say we're offering forty I would at least say sixty thousand dollars let them come down they'll come down and say we'll give you fifty five thousand and you're gonna go that's five thousand more than I wanted okay so always give higher then the number you actually want because they are all weight whatever number you give they're gonna give you lower they're never gonna go we can make that demand so just keep that in mind okay so the next thing you need to know there is great debate out there of what to do if they ask you what your salary expectations are there is lots of articles written and studies done that you should always get them to go first however Harvard Business Review did a study and said it's actually in your interest to share your expectations so I'm not gonna give you an answer on that one here are the two things you can do that now looks like four but here are the two things you can do depending on which way you want to go and I think this is where you have to go with your gut I'm not trying to be wishy-washy here as with a lot of things there's not one perfect answer so I want to give you the two options whether you go first or whether you push them to go first and then you can decide which one is right for you in your salary negotiation process so if they say what are your salary expectations and you really want them to go first one thing you can say is you know I'm sure we will be able to come to an agreement of a good compensation package what I really want to focus on more is a job where I can use my skills and enjoy my day with my co-workers or something like that like where I can use my skills and be fulfilled at work and if you have a job that you really want because it's gonna get your foot in the door of the industry you want to be in for the next 20 years or something like that might want to go with that I would say you know I'm fine talking about money later what I really want to focus on is a job where I can use my skills and enjoy the work I do every day that's what fulfills me you can also say you know I'm very open and I feel that we can definitely come to an agreed upon compensation package when the time is right that's another option now the opposite way to go it's to give a salary range that you want based on your expectations of what the position should be and all that research you'd uh you did from the first tip you would say something like you know I'm really looking for something in the range of 50 to 60 thousand dollars or whatever it is no I'm not trying to say that's where all jobs lie in that range it's just easy math I'm looking for something in the range of around fifty to sixty five thousand dollars based on the research I've done of what's expected for someone in this role in this area you're basically doing the switch of what you did to the recruiter okay so the sixth thing you need to know don't forget that you are negotiating a total compensation package not just a salary number so do your research on what's included right what kind of benefits do you get is there an HMO and a PPO do they give money to your 401k is there some sort of matching program on that do you have to pay for a parking permit for where you're working does that come out of your budget do you have to give union dues yo those union dues take a lot think about all those things on top of vacation sick time professional development you want to look at the whole package so part of this I will be honest I have never heard anybody negotiate it's written in so many articles and so many people talk about oh yeah you know you can also negotiate sick days and vacation time I've never heard anybody negotiate more sick days but I myself have negotiated professional development in my package for a job I said yes I would like this salary range I would also like my membership for this association to be paid through the company because it was an expensive fee it's like over $1,000 so while I didn't get $1,000 in salary I have thousand dollars that I didn't have to spend towards this membership that I get to be a part of so you and four years on so think about things like professional development if parking is part of it you can try and negotiate that they should pay your parking things like that but you want to look at that whole package and think about what things you can negotiate based on that so you could also say with professional development like I would like funds to attend one conference a year or to take one course or to get a certification things like that can be negotiated into the package okay so number seven you need to know your take-home pay number this means that you need to have budgeted what do you need for rent for your car for groceries for time with friends for entertainment for clothing for makeup hey whatever it is for you what is that number don't think that when they say so let's say that number is $1,500 a month when they say we're gonna offer you $1,500 a month do not go oh this is great that's exactly what I need no it's not taxes coming out of that that parking permit could come out of that union dues come out of that medical comes out of that any PPO stuff if you go above that comes out of that you need to give money to your retirement some of us give to our churches every month like you need to think through all the numbers so know what your take-home pay would be you're not gonna be able to do it perfectly right because you're not like in there doing the percentages all the time but figure out okay so if they say I get fifty thousand a year well monthly that comes down to this number and then that come down Jew this after taxes and the percentage that you should be able to find on their website of like how much percentage gets taken out for some of these things if you can't find it do not be afraid to talk about that with the recruiter or hiring manager making the offer like hey I would you know I really just need a minute to think about this I'm curious with that number is there any money coming out for union dues is there any money coming out for a parking permit or are there any fees that I'm going to have to pay within the company check all that ahead of time so that you know what number you actually need to be able to accept the job all right number eight and I already know this one's gonna be controversial and some people are gonna leave me comments you have to know that certain places are going to have zero negotiation now remember my first tip you should always try to negotiate you should always say is there room for negotiation or that number isn't going to quite work for me I was looking something more around this range remember they will not rescind but what might happen is they say we will offer you $48,000 and you need 55 and you say that number will not work for me or you want 55 let's put it that way that number will not work for me unfortunately you know what I was looking for was something more around $55,000 they may come back to you in that phone call and go I'm sorry we have no room for negotiation on this that the number is 48 thousand okay you still asked you had to at least put it out there then you can say is there room to negotiate anything else such as professional development or vacation etc even though I've never heard someone getting vacation people recommend doing it you can at least try they will go no I'm sorry there's no room on any of that no okay that's fine can I have some time to think about the offer and then you can come back and say yes or no but just know do not be shocked if you are in an industry where there is no negotiation I work with people in film and television all the time and I will tell you some of those assistant jobs at studios there is no mine my first job included there was no room for negotiation they're like nope this is the number because if you don't want to do it for that price there are 40 other people lined up behind you who will do it for that price so you just have to be ready for that now once again press for it just get ready that they might say no they will not rescind if you press but no they might say no okay that's it all right so number nine make them wait you heard me say it in the last tip that they'll say you know no this is our number and you go okay I'm gonna need a day or two to think about that they might change their minds and come back and offer you something different you also just might need to take a day to think through is it worth doing it for this number I wasn't quite I was looking for something that was a little bit more but could I do it for this is it worth it for the future growth within the company is it worth it for the fact that I will get these experiences that I haven't gotten before think about those sorts of things take a day make them wait you can always say you know I'm gonna need a little bit of time to think about this when do I need to get back to you buy or could I have the week to think about it or the next four days or whatever it is you could say week and they could say unfortunately we needed to know in three days you'll go okay we'll have a decision in three days either way works and then 10 you need to know your walkaway number you need to know your take-home salary number which is most likely your walkaway a number but depending on the job depending on what they could offer you depending on like in terms of professional development you might be able to go well I'd like to spend $300 a month on entertainment but I can bring that down to 150 a month if it means I get this great experience so know your walkaway number this more is from an emotional point sometimes we are just so desperate for a new job we are in a toxic environment or we've been unemployed for a really long time and we just need something but if that number isn't going to give you money to pay your bills we need to know we need to walk away some places just aren't worth it and if they're not valuing you to a reasonable amount being one of those ranges that you found on Glassdoor or pay scale well then that might not be a company you want to work for and you really need to think about that as well I hope these things to know have helped you I hope you feel a little bit more educated on what to do in salary negotiation there is not one specific way to do this no matter what anybody tells you every industry is a little bit different every company is a little bit different heck every department can be a little bit different so keep these tips in mind and figure out your range figure out your take-home salary figure out your walkaway number and be brave to make the asks they will not rescind the offer okay it I have never heard of anyone getting their offer rescinded for asking something too high or for asking for a day if you don't come back in time they might rescind but don't be afraid to ask that's the biggest thing so I hope this helps let me know if you have any great negotiation stories in the comments give people the courage to go forward and do this for themselves and I will see you next time bye you

Channel: Cass Thompson Career Advice

Views: 34,660

Rating: 4.9696684 out of 5

Keywords: cass thompson career, salary negotiation, how to negotiate salary, how to negotiate salary after job offer, 10 things to Know to CRUSH Salary, cass thompson career advice, interview tips, career tips, how to negotiate your salary, salary negotiation new job, salary negotiation tips, negotiating salary

Id: 07E9FKXHxyE

Length: 19min 25sec (1165 seconds)

Published: Mon Mar 30 2020