This tip will help you avoid a costly salary negotiation mistake and reach career goals.
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Career Tip #12
Salary Negotiation Mistake: Not Staying the Course
Avoid doing this to reach career goals.
Negotiating salary takes time. Don’t feel rushed or pushed into accepting an offer too soon. After you’ve researched the market (which PayDestiny can help with) and determined “your number,” negotiate salary in stages: fact finding, initial offer, counter, middle ground, consideration, and decision. The more senior you get in your career the longer negotiations may take. Different people may have to give approval. Know what you want, stay the course, and don’t rush the process.
By rushing a salary negotiation you negatively impact your long-term earning potential. Your pay raises at a company are based on multiple variables including your base salary. When you don’t stay the course you leave money on the table that would otherwise compound over time.
If you’re feeling anxious in a salary negotiation and feel as though your anxiety is rushing you to accept an offer decrease your negotiation anxiety by:
- Breaking the negotiation into smaller chunks with a timeline.
- Asking questions to get more information about compensation options (base salary, incentive pay, bonuses, stock options, etc.) to understand what you can present in a counter offer.
- Reminding yourself that it’s a marathon not a sprint you want to come out ahead but you might not win every “lap.”
- Replaying past positive salary negotiation outcomes in your mind like “I did really well at negotiating my previous salary. I got this!”
- Allowing yourself to pause and breathe, small pauses can actually come across as confidence (as it shows that you are not rushing the conversation).
- Rehearsing responses to counter offers so you feel confident when the time comes to negotiate salary.
When you stay calm you are more likely to stay the course and get what you want out of your salary negotiation. To achieve your salary negotiation goals don’t rush the conversation.
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