You’re negotiating a salary. What are the most important things to consider?

3 Know your alternatives

A salary negotiation is not only about the number on your paycheck. It is also about the overall compensation package, which may include benefits, bonuses, incentives, perks, and other non-monetary rewards. You should be prepared to discuss and compare these aspects with your employer, and consider how they affect your satisfaction, motivation, and career prospects. You should also have a backup plan in case the negotiation reaches a deadlock or falls short of your expectations. This could mean having other job offers, exploring internal or external opportunities, or postponing the negotiation until a better time.

4 Know your timing

When you negotiate your salary, timing is everything. You want to choose a moment when you have the most leverage, credibility, and rapport with your employer. This could be after you have completed a successful project, received positive feedback, or demonstrated exceptional skills or leadership. You also want to avoid periods when your employer is facing financial stress, organizational changes, or competing priorities. You should also be mindful of the company's salary review cycle, and initiate the negotiation well in advance of the deadline.

5 Know your communication

The way you communicate your salary expectations and reasons can make or break your negotiation. You want to be confident, respectful, and professional, but not arrogant, aggressive, or defensive. You should use clear and concise language, and back up your claims with facts and examples. You should also listen actively to your employer's perspective, and address any concerns or objections they may have. You should aim for a win-win outcome, where both parties feel valued and satisfied, and maintain a positive and constructive tone throughout the negotiation.

6 Know your limits

Finally, you need to know when to accept, reject, or walk away from a salary offer. You should have a minimum and a maximum salary range in mind, and be flexible and realistic within that range. You should also consider the trade-offs and consequences of each option, and how they affect your short-term and long-term goals. You should not accept an offer that you are unhappy with, or that does not reflect your worth. You should also not reject an offer that is fair and reasonable, or that meets your needs. You should be prepared to walk away from a negotiation that is disrespectful, unethical, or unrealistic, and look for other opportunities that suit you better.