Don’t Leave Pay on the Table
The Great Resignation is upon us. You’ve decided that you’re ready for a new opportunity, but not the associated salary negotiation. While it may seem easier to accept whatever offer comes your way, you risk leaving money on the table.
If you’re hesitant to dive into salary negotiations, you’re not alone. Professionals commonly avoid negotiating because they:
- Place too low of a price on their skills
- Don’t want to risk damaging the relationship
- Are afraid of looking greedy
- Worry about losing their offer
Why shouldn't you worry about these factors? To start, by understanding your worth, you will better understand your value and increase your confidence in negotiations. Learn your worth by doing your research to price your skills fairly.
While it may seem greedy to ask for a better offer, the majority of companies expect candidates to negotiate and factor this into their initial offer. Additionally, if you’ve done your homework and know your worth, you won’t appear greedy for asking for compensation that equates to your experience.
Once you receive an offer, it is extremely rare for it to be rescinded simply because you asked for a better package. That said, you should never negotiate before receiving an offer. You want the company to be psychologically committed to you so that they are open to your requests. By doing your research and understanding your worth and what the company might provide in an offer, you will know what is expected and reasonable to ask in a negotiation.
Learn about the ins and outs of salary negotiation from Senior Lecturer and Distinguished Teaching Fellow Holly Schroth to prepare for your next conversation and walk away with the salary you deserve.