The Art of Negotiation

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The Art of Negotiation

Negotiating compensation is a touchy business. Many people don’t negotiate because they aren’t sure what their skills are worth. Others fear they’ll appear greedy if they ask for more. Still others were raised to believe that it’s impolite to talk about money. The truth is that most companies are prepared–in fact expecting–to negotiate salary terms.

To negotiate effectively, you have to start from a position of power. Know what your strengths are and expect to be paid for them. If you can’t reach what you consider a fair compensation package, be prepared to walk away.

Don’t focus solely on the base salary that you expect. Think in terms of an overall package, keeping other benefits in mind when determining what you must have, what you would like to have, and what you can live without.

Determine ahead of time what your ideal compensation package is, as well as your rock bottom figure. Knowing what you want before you are put on the spot allows you to trade low-priority benefits for high-priority ones. It also prepares you for when you’ll be asked to defend what you are asking for.

To negotiate successfully, you need to know:

 


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