Getting everything you desire isn't the aim, according to a financial expert who once negotiated a $10K raise,You don't have authority over that.
Early in her career, Tori Dunlap discovered the value of compensation negotiations.
The tactic, which once got her an additional $10,000 in a job offer, was crucial to her saving $100,000 by the time she was 25 and starting Her First $100K, a website that provides financial education to underrepresented groups and women.
Dunlap, 30, tells media Make It that she was able to reach a new job, "because you actually have influence over that." She has also done it enough times to understand that. Performance in a negotiation, in her opinion, is determined by how well-prepared you were, how you combined all of your data, and how well you performed.
You can think beyond money and examine what other components of a compensation package you'd like to flex by approaching a negotiation as a conversation rather than a competition.
Consider negotiating non-cash benefits like paid time off, work-from-home days, your position title, or anything else that's essential to you if a company isn't able to match your pay expectations, advises Dunlap.
Even if you don't get anything on the list, it's a positive indicator if a potential employer is open to negotiating other aspects of an offer, advises Stacie Haller, chief career counselor at ResumeBuilder with more than thirty years of recruitment expertise.
People only want to feel as though they were given something when they go to negotiate, according to her. Even though it's a tiny thing, there are moments when you feel like, 'At least somebody tried to help me.' The fact that they are prepared to go a little bit further in order to support you indicates an honest manner.
Know your critical compensation versus nice-to-have bonuses, at the very least. Haller continues, "Be aware of what you require and avoid bargaining that off. It does not need to be all."
It can be beneficial to plan ahead and find out how frequently the business assesses employee performance and compensation. Inquire with the recruiting manager about the requirements for obtaining the desired raise, including any abilities or accomplishments that must be met, as well as the estimated duration of the process, advises Haller.
Dunlap continues, "so that when you eventually do these things, you can step in and essentially show the evidence of an improve," it can be helpful to obtain that summary in writing as soon as you receive your offer.