One of the things that infuriates me--and makes me want to gouge my eye-balls out—is when I see greatly-titled articles in newspapers.
Articles with titles like: “How To Negotiate For Higher Salary in a Job Interview”.
You read most of those articles; only to realize it’s a bunch of fluff!
It turns out there is nothing in the article showing you how to exactly negotiate. Or the ACTIONABLE STEPS to take to become better at salary negotiation.
The writer of the article starts giving you world statistics about how job-candidates fail to negotiate their salary. Or a “salary-negotiation failure story” of another job-candidate--and then offers no solution at the end!
Newspaper article-writers give me a break!
Do I really need to know world’s statistics about how interviewees fail to negotiate their salaries? Do I really need to read another salary-negotiation failure story?
What I need is solution. I want to know how to do it. Not another salary negotiation failure stories; or world stats on salary negotiation!
Most Of The Media Stuff Is Flaky
I have deep respect for a few newspaper article-writers who really give meaty advice in their articles.
But the truth is: most newspaper articles-writers give frippery advice on salary negotiation and even career. The question is why?
Why do they give a great promise on the article-title; and deliver no useful advice at all?
Two reasons:
- They want you to read their articles
- They don’t know how you should do it.
See, it’s easy to tell our friends: “Dude, you need to go and ‘UPDATE’ your RESUME” to penetrate in the competitive job market”…simply because we heard that from the media.
Not knowing updating your RESUME is USELESS tactic. It doesn’t get you an interview-call.
By the way, if I ever tell you here on this my site…“You need to update your RESUME/CV”…simply UNSUBSCRIBE and NEVER read any of materials again! Because that’s a total crap!
I have always promised to be brutally honest with you. And always will.
I had decided to NOT write anything about salary negotiation--at least this year. But because of the crappy advice articles I have seen in newspapers surrounding this topic—which enraged me—I decided to give a meaty advice to my readers on this topic.
Today, I will demystify the myth of salary negotiation. Plus tell you the “blunt truth” that most newspaper and online article-writers will NEVER tell you—because they don’t know.
The Honest Truth About Salary Negotiation
Truth be told! Salary negotiation is not a matter of walking into the interview room; and saying HOW MUCH you WANT to be PAID!
If someone ever tell you it’s that easy; ask him how many times he has done it successfully--if at all he has ever done it in the first place!
If it were that easy; everyone would have done it. But as it turns out; very few people can and have actually negotiated their salary
Even people who have worked in companies for years; find it extremely hard to negotiate for a better pay!
Real talk people. If someone who has worked for his boss for several years find it extremely hard to ask for a salary raise; how would it be that simple for a “new hire”?
The hard truth: SALARY NEGOTIATION is NOT EASY.
And here’s why:
• The GUILTY Feeling: There’s the feeling of guilty when you are asking for more; while others are getting less. And to overcome that barrier; you need beat your own psychological scripts.
• It’s a SENSITIVE Topic: Ever raised money matters with even your friends? Money-matters is a sensitive topic.
You can’t raise this topic without meeting obstruction; and possibly enmity. That means; to do it successfully; you must be great at social skills
• It’s a SKILL you need to learn: Salary negotiation is a skill you need to learn. Just like any other skill.
If you have NEVER negotiated before; or taken time to invest in learning how to do it; and practiced it: how could you expect to just walk in the negotiation-room and get that raise?
All that is not to say you can’t do it; and do it successfully. You can!
But the truth is: negotiating your salary is not as easy as asking for a glass of water.
The Psychology Behind Successful Salary Negotiation
Let’s dive into the game! And to roll the dice; here is a very simple question.
When you—my reader--get out to buy something; which products/services are you usually willing to pay the highest price?
The answer: The ones that EXACTLY MEET your needs; and have HIGH-VALUE in your eyes.
But here is where it gets even tricky about VALUE. That VALUE doesn’t have to be the HIGHEST compared to other product/services being sold at lower prices in the same market. It can just be PERCEIVED VALUE.
So, whether the value is PERCEIVED or REAL it’s VALUE in the eyes of the beholder!
For instance:
We walk into shopping malls; or supermarket and buy products at a higher price; while we can get the same product elsewhere within town at a lower price.
“But Prince, I go there because it’s a one-stop-shop. I get everything in one place!” you might rationalize.
But what about that one shirt; trouser or handbag you bought in that supermarket?
You walked in there; knowing exactly that you wanted only that one shirt/trouser/handbag. And you bought it at a higher price. Did you still need a one-stop shop in this case?
Why did you pay that much; and you very well knew you could get it somewhere else; at a lower price—same quality?
What is even more interesting is; you didn’t feel cheated!
Go at open market; and get someone to sell you the same shirt or handbag at that high price; and you will tell them off? Why? What has really changed?
The answer: NOTHING. Just your PERCEPTION about the seller; the product and the AIR the environment or the seller exudes!
That is the power of perception; and psychological positioning!
Here’s the underlying psychological principles:
- People PAY MORE for REAL HIGH-VALUE product/service
- People PAY MORE for what MEETS their EXACT needs
- People PAY MORE for PERCEIVED HIGH-VALUE (the AIR around the product/service or the service provider)
How To Negotiate For a Higher Salary
Negotiating your salary is a science—and probably an art too. Mostly it’s science because you have to employ psychological techniques. Plus social skills too!
Regardless of whom you are negotiating with or what you are negotiating for; you have to use the preceding 3 psychological principle.
When it comes to negotiating your salary with the hiring manager as a ‘new hire’; the salary negotiation is a “3-Step process.”
In fact, the REQUESTING part of the salary you want; is the last thing!
Simply said: 80% of the job is done way before REAL salary-negotiation starts!
Before I show you how; here is what I mean: A week or so ago; I was speaking with an audience of ambitious young guys about “Crafting An Irresistible Resume”.
One of my great audiences asked me a question about "this lady who bombed a great job-opportunity during salary negotiation"
She asked me: “What should she have said when asked why she needed more salary?”
And it’s okay to ask that. I get it! We all are concerned about what we are supposed to say. The exact words we are supposed to use to get that raise.
But the truth is: Those exact words are the least of your problems when it comes to salary negotiation.
I can give you the exact “word-for-word scripts” and “phrases” to use during salary negotiation. And you will still bomb it!
Why? Because the exact words and phrases to use during salary negotiation is the last thing you need to know. They contribute only a certain percentage to your WINNING!
In other words: If you DON’T do 80% of the work way before; and throughout your interviewing process—and interaction with the interviewer—you will NOT WIN the salary negotiation
Salary negotiation is a process not an ACT !
And if you do your prior job well throughout the process; you are almost guaranteed a great outcome. Get the ‘perfect word-for-word scripts’ correct. Fail to do the 80% prior job; and you’ll fail in the negotiation.
That’s why anyone who tells you… “You only need to use this MAGIC SCRIPTS and PHRASES in the negotiation room. And your boss will be enchanted and give you any salary request you make”…is lying.
He is not aware of what he’s talking about!
Today I want to show you what almost nobody shows you: The 3-Step process of salary negotiation which virtually guarantees great results..
The 3-Step Process To Successful Salary Negotiation
Here is the 3-Step process to successful salary negotiation. Get this right. Do it well. And you can virtually guarantee successful salary- negotiation--above the base-line salary.
Step # 1: Your RESUME/CV
Someone will read this first step and roll their eyes. And that’s okay because unless you have a depth understanding of the hiring manager’s psychology; it doesn’t mean much.
But for those who want to master the art of salary negotiation; stick with me. As for the eye-rollers; I am not here to help you. Close this window and leave this site!
Remember the 3 psychological principles as to why people PAY MORE? Your CV represents two of these:
To wit:
- Are you meeting the EXACT needs of the Hiring Manager?
- Can he see VALUE in your RESUME?
Put together a CRAPPY CV with 'RESPONSIBILITIES' and 'CAREER OBJECTIVES' and you look like any other interviewee. Those kinds of CVs don’t differentiate you. You VALUE goes down.
And the HM can let you go over salary--because he can get another candidate--just like you. That’s why you should submit OPTIMIZED RESUME; rather than UPDATED RESUME.
Why First Layer Is Critical: When you show VALUE in your CV; and differentiate yourself from any other job-applicants; it shows you are a top-performer. And asking for a reasonable salary—above the standard salary—is expected by HM.
That very psychological preparation is more important than anything else.
Step # 2: Your Interviewing Prowess
The first step highly impacts the second step. The HM already knows you are a HIGH-VALUE candidate. And the BEST FIT for the company.
The interviewing process gives you the opportunity not only to AMPLIFY that value; but to demonstrate it too. This is where you use competency trigger phrases—throughout your interactions with the interviewer--that elevate your PERCEIVED VALUE.
These are powerful top-performer phrases like:
“…You know in my last job, I was well compensated; and I am certainly looking for a better fit in terms of compensation. But I am also looking to work with a company where I am evaluated based on VALUE. And not ‘the years I have worked’ or [insert whatever standard they use]”
Here’s what such subtle comment tells the interviewer/HM about you:
- I am not desperate for this job. I am “sizing you up”. I first want to see whether we are a good fit for each other.
- I was well compensated in my last job; and I’m certainly looking to work with a company that compensates me appropriately.
- I want to be evaluated based on the value I bring on board. NOT on abstract standards like: ‘the years I have been around’ or whichever standard the company uses.
- It’s possible I have other options. In case we are not fit for each other; I have other job offers in line.
- I know my value; and I would like to be well rewarded based on what I am worth.
You have also elevated your PERCEIVED VALUE and demonstrated that you are a high-performer. The HM is not ready to lose you over ‘above base-line” salary request!
To-performers are RARE!
How you respond to interview questions either elevates or down-washes your PERCEIVED VALUE. And the interviewer starts to make judgment about where you will lie in the salary range.
Compare those top performer competency phrases I have shown you; with what most average candidates do—including revealing their previous salary.
They use phrases like:
“…My greatest weakness is that I work too hard. And please when you give me this offer I will do what it takes to succeed in this role”
Or…
“… I am a good team-player and when you give me this offer, I will do what it takes to make you proud; and achieve company goals”
What such comments tell the Interviewer/HM about you:
- You are DESPERATE for the job
- You were NOT WELL COMPENSATED in your last job---if at all you had one!
- You DON’T KNOW what you are talking about. Only average and below-average candidates say things like: “…I will do what it takes”
- You have NO VALUE at ALL--and if you do; you DON’T KNOW it
- You are INCOMPETENT.
Hard Truth: Hiring Managers would want to take you on board with the lowest salary in your job cadre.
It’s nothing personal! It’s just a job—that’s just the way it is! And that’s one of their successes.
But if you demonstrate you are a HIGH-VALUE candidate; they would be glad to PAY you MORE!
Step #3: The Salary Negotiation Techniques And Scripts
This is the last process where you use highly powerful negotiation techniques like:
- The 30-60-90 Technique: Use this to demonstrate what you intent to do with the company in terms of VALUE
- The SALARY RANGE Technique: You need to research and understand the salary range. Bring that range on the negotiation table. NEVER negotiate from vacuum!
- SOCIAL SKILLS techniques and use of Exact Negotiation Scripts: NEVER make salary negotiation adversarial.
Do you notice how salary negotiation is a process that employs psychological techniques? And one that you need to practice; not just ‘wing it’?
80% of the job is done way back before the negotiations start!
Also, notice how the EXACT SCRIPTS to use come last!
Here’s one of the scripts you can use to respond to why you deserve higher pay:
“…Based on the value I intend to bring into this company; as I demonstrated earlier on. And the successes I have demonstrated in my previous roles/ companies which I intent to bring into this role/company…I believe I am worth the higher-end in this range”
Notice I am not demanding anything. I am not even bringing up my financial needs on board.
I am skillfully saying what I believe I am worth; based on the VALUE (I already demonstrated that value) and SUCCESS I’m bringing to this company. NOT based on my financial NEEDS!
That’s how you WIN and negotiate for a higher salary!
But that’s’ just a nutshell; I take you in-depth of the negotiation techniques.
What’s The ONE Thing You Learnt?
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Share this material to anyone it can help and I’ll talk to you next week on Thursday—right here! Have a WINNING weekend.
Adieus
Prince
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