How to Negotiate a Better Salary

Even the most skilled professional may experience difficulty negotiating a better salary. In some cases, employees don’t appreciate their full value to their employers or what peers earn in comparable jobs. But in most cases, it doesn’t go well because the focus is on doing their work, not negotiating wages.

Salary negotiation is an understandable challenge for professionals in every industry. However, the challenge often impacts women the most. Even in the modern business world, some consider women who ask for more money as “unlikeable,” according to the New York Times. Women also are more likely to underestimate their professional value.

These obstacles are not insurmountable. However, women – and all professionals – can benefit from honing their skills and learning to negotiate a better salary. Kelley short courses and professional certificates are both excellent ways to learn these negotiating skills.

Negotiation Fundamentals Certificate
Effective Negotiations Course

What’s Your Professional Value?

Research is the first step in successful salary negotiation. Without a specific number in mind, it’s impossible to negotiate a better salary. However, since few employers are transparent about wages, it falls to employees to determine that number on their own.

Online tools offer help. For example, Glassdoor offers a “know your worth” tool, and PayScale provides a tool of its own.

In most cases, an “old school” approach provides the best information: talking to someone in a similar position about what they make. Professional mentors and college business professors can also offer advice on a fair salary range for your job.

Tips to Negotiate a Better Salary

After acquiring a salary comparable, the next step is reinforcing the skills needed during the negotiation. By familiarizing themselves with negotiation techniques, employees stand a better chance of earning the salary they deserve.

• Practice. Ask a trusted peer with negotiation experience to conduct a role-play simulation for negotiating. This is a valuable experience for fine-tuning a presentation and sharpening the argument to receive a raise.
• Flip roles. When seeking a better salary, employees should always imagine themselves in the role of their employer. Flipping roles during a negotiation simulation can provide insight into how the employer views the strengths and weaknesses of the proposal.
• Seek a high-end salary. A common and effective strategy for employees is to ask for more than they expect to receive, typically the high end of the salary range for the position. According to LinkedIn, if an employer negotiates down, an employee will “still end up with a salary offer you feel comfortable accepting.”
• Show improvement. If a manager gives feedback and sets goals for an employee, they should bring documentation to the negotiation showing how they made improvements and attained those goals.
• Stay flexible. If companies cannot match salary expectations, seek alternative forms of compensation. This can include stock options, a one-time bonus, extra vacation time, or a hybrid work schedule.

Throughout negotiations, it’s important to convey confidence, but not arrogance. Confidence means a person has an appropriate appreciation of their skills and qualities. An arrogant person has an exaggerated sense of their importance.

Kelley School of Business Short Course

Developing the assertiveness and confidence to negotiate is addressed in the short course: Effective Negotiations offered through the Kelley School of Business Executive Education program. Professionals learn negotiation techniques and how to apply them to their unique career situations.

This two-day in-residence course is taught by the same faculty that teaches in the top-ranked Kelley School of Business degree programs.