How Not To Get Underpaid
A while ago, there was a huge hullabaloo over Jennifer Lawrence being underpaid than her “American Hustle’ co-stars – Amy Adams, Christian Bale, Bradley Cooper and Jeremy Renner. This showed that no matter how successful you get you can still get the short end of the stick. That is why when you find yourself in such a situation you need to think carefully and strategize.
Be logical and reasonable. Do not point any fingers at anyone by saying that they are getting paid more than you. This maybe be misconstrued as jealously. You need to do your research and present your facts. Be aware of the market rate. PayScale can help you in this by finding the range of salary for your job title, area, skill and educational level.
Alexander Graham Bell said, “Before anything else , preparation is the key to success.” That is why it’s always good to have a dry run of your negotiation. It is better you practice with a person who does not belong to your office. Get your friend to play the devil’s advocate and hit you with all possible questions so that your arguments can be water tight.
When negotiating never be the first one to name a number. Let them go first and then negotiate with a counter offer. It must always be higher than what you want because eventually after a bit of go and forth they will give you a lower number. So, if you start with what you want, chances are that you will never get it. Also, be prepared to give reasons for the salary that you quote in your counter offer. These should related to the value that you add to the company rather than what others are getting paid in the industry. Those should be left for when you introduce the topic of getting more pay.
Another thing to keep in mind is that most people negotiate beyond base pay. Don’t be one of those ignorant. Negotiate about the benefits and perks, after how much time you will get a salary increase, and minimum severance. The final number will certainly be boosted after an improvement in these.
Be confident and do not falter. As Steve Jobs said, “Don’t let the noise of other’s opinions drown your own inner voice.” Know your worth and negotiate hard.
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