It goes without saying – negotiating your salary can be an intimidating experience, but it’s crucial for your financial success. If you’re a millennial, it’s time to start taking control of your finances and bring in what you deserve.
In this blog, we share some strategies that will help you negotiate your salary effectively. Hopefully by the end of it, you’ll feel more comfortable and confident in asking for what you deserve.
Financial literacy in Australia is more important than ever, especially when it comes to negotiating your salary. By having a good understanding of personal finance, you can better understand and negotiate your salary and benefits package.
Do Your Research
Before jumping into a negotiation, it’s essential to research salary ranges in your industry – use websites like Payscale or Glassdoor to see what other people in similar jobs are earning. This information can help you determine what salary to ask for and set a realistic expectation for what you deserve.
Practice Your Pitch
Practice makes perfect… especially when negotiating your salary! Before going into the meeting, prepare a pitch and rehearse what you want to say. Practice in front of a friend or in the mirror until you feel comfortable with your approach – this will help you present your case confidently and ensure you’ll get the outcome you desire.
Don’t Reveal Your Hand Too Early
During the meeting, avoid mentioning a specific number unless you’re confident it’s the amount you deserve. If the employer asks you what salary you’re looking for, try to deflect the question and ask for more information about the role and their compensation package. Once you have a better understanding of their expectations, you can then provide a salary range that reflects your qualifications and experience.
This one might seem like a given but when negotiating your salary, it’s essential to maintain professionalism at all times. Avoid making demands or acting entitled; instead, focus on presenting your qualifications and experience calmly and confidently. This approach will help you build a positive relationship with your employer from the get-go.
Don’t Be Afraid to Walk Away
If your employer is not willing to meet your expectations, don’t be afraid to walk away from the negotiation. Remember, negotiating is a two-way street, and if they can’t meet your expectations, it’s time to start looking for other opportunities. Don’t settle for a lower salary than what you deserve.
Ready to get started?
Negotiating your salary can be an empowering experience that helps you take control of your financial future. By following these strategies, you’ll be better equipped to negotiate your salary effectively and get what you deserve.