There are a lot of tips out there on how to negotiate to get a higher salary however much of the information is inaccurate or don’t have any scientific research supporting it.
In this post psychological research will be introduced that reveals 10 strategies that will help you increase the amount on your payment check, earlier presented in a post from Psyblog.
So this is what you need to know to thicken your wallet:
Have open negotiations
Always be prepared to negotiate! A study (Gerhart & Rynes, 1991) found that the participants that were prepared to negotiate acquired a higher starting salary. Might be considered to be a given but far from all are prepared to negotiate their salary at an interview or their salary raise when employed.
You should say the number first
It’s mostly common for sites that have recommendations on how to negotiate your salary to say that the employer should give the first salary offer. The reason being avoiding cutting short. However research shows that it is better to set the anchor yourself when the negotiation is about salaries. The reason why is because the first number mentioned is important since it sets the anchor (reference) against all other numbers mentioned. Therefore if you were to allow the employers to say the first figure they will set it low and take control over the negotiation.
To continue with the subject anchor, when you mention a number make sure it’s a high one. The number should of course be high in regards to the industry and job you’re applying. This is supported by the findings of a study by Thorsteinson, 2011 where the final negotiated amount was higher when the anchor figure was set high.
Make a joke
Opening with a high salary request can be perceived in different ways. If perceived as negative, tension can arise. However you can diffuse the tension by making a joke. A high opening salary request framed with humor can influence the end result in your favor (Thorsteinson, 2011).
Research proposes that competition is a successful negotiation strategy (Marks & Harold, 2011). Negotiating your salary is a game and therefore you should be as competitive as you are when playing any other game.
However, you don’t have to compete all the time because collaboration can work. By finding out what the employers interests are you can have a collaborative negotiation. But…
Win win feels better, but nets less
Collaborating might make you feel better about the negotiation but it leaves you with substantially less money. According to Marks and Harold (2011) people with a win-lose approach felt worse but negotiated themselves a higher salary.
Avoid compromise and accommodation
The research presents to us that being reasonable and flexible leads to less money. If you compromise and accomodate you will get less money.
Forget gender stereotypes
The research shows that there is little difference between the way men and women negotiate their salaries. It is even so that women sometimes are more competitive than men in negotiations (Walters et al., 1998).
Be bold, Take a risk
Those who are risk avert (avoid taking risks) are worse negotiators. They are not as competitive and being competitive as we know lead to higher salary. Therefore you should embrace the risk and make sure to be competitive.
Believe that you’re worth it
It’s common to think that you’re not worth it but it is crucial to convince yourself that you are.
To ease the negotiation find out what other people are earning either in the industry and type of job your applying for or what other people with the same kind of job within the company are making. This will help you with determining the anchor. In Sweden you can check out Lönestatistik to compare salaries.
Make sure to have your arguments ready as to why you deserve the requested salary or the pay increase. Armed with that you can enter the negotiation with an anchor already in mind, charged with a joke to ease the tention and willing to take a risk to get more money.