When you're negotiating your salary at a new job or asking for a raise, do your homework and ask for a specific number.
Candidates who research their market value before negotiating for more money have been shown to fare better in negotiation.
According to research done at Columbia University and published in The Journal of Experimental Psychology, even if you haven't done your homework, it's always a better idea to give an exact number vs rounding to the nearest thousand.
Here are some of their findings:
Recipients of precise opening offers made more conciliatory counter-offers.
This effect carried through to final settlements.
Precise first offers were seen as more informed, prompting smaller adjustments.
A number like $109,750 rather than $110,000 will give employers the perception that you must know something they don't, and they will assume the number is based on your actual worth.
If you're having trouble coming up with your market value, comment below 🤑
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