Whether you are a fresh college graduate or an experienced software engineer, negotiating your salary can be a daunting task.
It’s hard to know how much we should ask for and if we should even negotiate at all. This article will help you understand the process and teach you some negotiation tactics that will help you earn more money.
Negotiation is an opportunity to leverage your skills, abilities, and experience to get what you deserve. It’s also not just about the money! Negotiating provides the opportunity to work with your employer on other terms that are important to both parties - like flexible work hours or benefits.
When Should You Negotiate Your Salary?
Here are a few scenarios when you should consider negotiating:
- When you know your value
- When you want something that can be negotiated
- When you have a shiny new skill or certification
- When you have more experience than any person in your company
- When someone in your office negotiates with an outside company and they’re getting a better offer
- But when is it time to just leave it at what we've been offered? * When you’ve spent years working for one company and feel like the salary offer is fair. If that doesn't fit into this pattern, then maybe it's time for a change.
What Salary Should You Ask For?
Before you start negotiating, you need to figure out what is a fair amount for your skills, experience, and abilities. Using the salary calculator can help you figure this out.
Asking for too much or too little will make the negotiation process difficult. Be sure to ask for a range of salaries that you are willing to work with so that your employer can be confident in negotiating with you.
There are different types of negotiation styles, which include:
- aggressive
- passive aggressive
- and collaborative.
These styles will dictate how successful your negotiations will be - aggressive negotiation tends to lead to conflict whereas collaborative negotiation typically leads to compromise.
What To Say, What To Write
Asking for a pay raise can seem intimidating since you're putting yourself out there and asking for something that is rightfully not yours. But, remember: negotiating your salary is an opportunity to ask for what you want.
Here are some tips to help you prepare for your negotiation:
Be prepared in advance. Have a list of questions ready in case the discussion goes south. You can also come up with a list of "deal breakers" that are non-negotiable.
Know your worth. It's important to know what you bring to the table in comparison to other people in similar positions at your company. The easiest way to determine this is by comparing salaries on sites like Payscale or Glassdoor
Use these tactics and be confident! Negotiating is one way that we gain power over our work environment and financial situation - so don't be afraid to put yourself out there!
To get an idea of how much do software developers make in tech read our guide
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How To Pitch Yourself
What does your company want? What is the company looking for in a candidate?
The company wants someone who can think on their feet and solve problems without thinking about anything else, who is passionate about what they do, and knows how to take initiative.
What skills, abilities, and experience do you have that meet these requirements?
You have a computer science degree from a top university with an internship at one of the leading tech companies in the world under your belt. You are also someone who takes initiative and solves problems quickly. You know how to be assertive without being aggressive and you're able to think outside the box when necessary to find solutions.
This is just one example of what you might say during your first meeting with the recruiter or hiring manager. In general, be prepared to share examples of past projects that illustrate your skillset and demonstrate your ability to work independently.
Negotiating Non-Monetary Terms
You have to be smart about how you ask for a raise. The best way to start is by asking your boss what her budget is. This will give you some idea of where your salary falls in the existing range and how much room there is for negotiation.
Then, you'll want to focus on a few key points that are important to you and your employer so that you can get them on the same page:
• How much money do I need?
• How much time do I want to spend at work each week?
• What do I want my working hours to be like?
• What are my responsibilities?
These are things that should be worked out before you negotiate anything else. Once they're settled, it's easy to make an offer that will suit both parties (and may even put pressure on your boss!).
Flexible work hours
A flexible work schedule allows you to take time off and work when you want, allowing you to be more efficient in your work. You may not be able to negotiate this, but if you are passionate about a particular project that your company is working on, ask for additional time or flexibility to work on it. If you don't ask for it, it might never happen!
Year-End Bonus
Most companies have a yearly bonus process. This provides a great opportunity to ask for more money while also getting something that you want in return.
Your company might also offer a year-end bonus as part of its benefits package. These usually come in the form of stock options or a cash gift, and you should take advantage of these opportunities if they're presented to you.
Benefits
Negotiation is not just about money! It's about working with your employer to get what you deserve.
Benefits are often the most important part of every negotiation.
Your employer wants to know if you're going to be a team player and contribute towards the success of their business. When negotiating, make sure that you can offer your employer benefits.
If your goal is to work for a company with flexible work hours or benefits, negotiate those terms into your salary.
Company Culture & Environment
At the end of the day, companies want to attract talented individuals who will help drive their company's success.
Negotiating with a company is an opportunity for you to demonstrate how valuable you are and what your skills can do for them. You don't want to simply ask for a higher salary - that won't get you what you want. Instead, negotiate for something else. For instance, maybe you want more flexibility in your work schedule or more vacation days.
Another thing to consider when negotiating is the company culture and environment. If you're happy at your current job and would like to stay there, make sure you negotiate on terms that are best for your individual situation.
Conclusion
Don't worry if you don't have the skills or experience to negotiate your salary. Follow this guide and you'll be on your way to negotiating a higher salary.
You can make anywhere from $80,000 to $180,000 in the tech industry even if you are just starting out (and not to mention the perks and stock options that come along with it!).
So if you are interested in working at top tech, make sure you are prepared for a technical interview.
The good news is, JudoCoder.com provides handpicked selection of all sorts of data structures and algorithm questions, most of these questions have been asked in a real interview!.
I would suggest you create a free account at judocoder.com and start practicing your skills. You will be prepared in no time!..
No matter what you do, make sure you practice! You'll be happy you did when it's time for your interview.
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