SALARY NEGOTIATION: SHOW ME THE MONEY.   

Poor negotiation could mean missing out on ~ $800,000 in salary during a typical career. 

Good salary negotiation requires:  patience, persuasiveness, poise & persistence.   

Tip 1 Research Market rates
1. Start with the market rate for your skill set. 
2. Research a reasonable salary given the size & sophistication of the organisation. 
3. Plan a compelling case to justify your claim.  Accept that you may be paid less than your current role.

Tip 2 Prepare a strong & strategic approach
Identify 3 key elements: 
A elements – your must haves
B elements – your wanna haves
C elements – your throw aways – bargaining chips so you achieve your As and Bs.
1 Don’t use your need for the job to negotiate.  Avoid emotion. 
2 Negotiate from a reasonable position & link each item to the job itself.
3 Set all your negotiating points out at one time.
4 Set the agenda to control the discussion.
5 Negotiations are two-way & it’s important to show you’re willing to compromise.
6 Avoid impromptu decisions.  Decide the limits of your flexibility before you begin.
7 Don’t assume the first offer is fixed.  Even if the interview tells you it is, it rarely is.  

Tip 3 Keep your salary under wraps
1 Decline to provide salary history.  Say it’s more useful to focus on this role & what it’s worth.
2. If you do provide salary history, make a firm statement of your required range.

Tip 4 Balance salary, bonus & benefits
Base salary is usually the most important item. 
1 Explore the bonus structure & how it will be determined.
2 Consider non-salary / non- financial rewards. – equity & profit share – extra leave or study allowances.  

Tip 5 Delay your response & manage ambiguity
Don’t accept an offer on the sport.

Respect as the song goes.   

Salary negotiation is not about GREED it’s about respect.  You are likely to switch jobs every 4 to 5 years.  Being able to negotiate your salary is a critical skill. Start today:  next time you’re at the table, gather your courage & do it!

Negotiate your salary for your future.