Get paid what you’re worth: insider tips on salary negotiation

We’ve all been there. The workload increases, but the salary remains the same. It’s clear now that you’d like to negotiate financial compensation that matches your skills and the workload you’re currently shouldering. Mint Life reported that in 2023, the percentage of millennials who don’t actively negotiate their salaries was between 58% and 59%. Are you one of them?

Salary negotiation can be daunting, but you can secure the salary you secretly desire with the right approach and communication skills. Let’s dive into it.

TIP: Want to negotiate like a pro? Our flexible course on negotiating salary and building your brand will teach you.

Confidence plays a central role.

A healthy dose of self-confidence works wonders. How you negotiate about money and the value you assign to your work reflects your worth in an employer’s eyes. It leads to professional growth, improved working conditions, and increased job satisfaction. Developing skills in this area is crucial for your long-term financial and career aspirations.

TIP: Did you know that one in four candidates struggles to negotiate a satisfactory salary during the hiring process? Many need to learn how to ask for the money they truly want. Procurement Tactics reported this statistic.

Recognizing your value

Negotiation isn’t just about how much you value your skills and knowledge but whether you can support them with precise data and results. Find out the average salary for the position you’re applying for and how your skills and experiences compare to the competition. Document your achievements and prepare arguments that support your value.

Strategy and preparation are key.

Make sure to prepare accordingly. Besides knowing your position’s average salary and standing in the competition, consider current economic factors and conditions affecting your life.

How are rents in your area? How has inflation reshuffled the deck? No one wants to find out a few months later that their salary doesn’t cover their standard of living. Formulate your arguments to highlight your strengths and prepare for potential counterarguments from your potential employer.

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The art of compromise

Sometimes, finding common ground is necessary. Our tip? Try valuing your work at least three times more than your real expectations. It’s easier to negotiate down than up. Always listen to the other side—remember, negotiation is the art of dialogue.

Ah, those benefits

What’s considered a company benefit today? Candidates now expect some things as standard—flexible hours, a home office, meal vouchers, a work laptop, and a phone. These are basics, not benefits. So, do the following:

  1. List the benefits you would appreciate in your position—educational opportunities, remote work, therapy contributions, extra vacation, or sales commissions. Whatever comes to mind. 
  2. Discuss them confidently, demonstrating to employers the benefits of these perks for you and for them as future employers.

TIP: Career Builder reports that 73% of recruiters expect a discussion on salary conditions from candidates.

Learn from real-life stories.

What does negotiation look like in practice? These stories show that where there’s a will, there’s a way!

(1) A financial bonus for excellent work on a project.

Lukáš (30), led project XY. After completion, he presented compelling evidence of his and his team’s excellent work, showing how they contributed to the company’s financial growth. Supported by specific numbers and examples, he secured a one-time financial bonus. Sometimes, it’s that simple.

(2) A higher salary due to completing a professional course.

Anna (31) is a graduate of a digital marketing course. After finishing the course, she requested a salary increase corresponding to her new skills and position. Her employer was happy to comply.

TIP: Choose from various flexible credentials at EDU Effective and gain new skills applicable to your job.

(3) Alternatives when a salary increase is denied.

Petr (28) requested a raise. His employer decided not to comply. Yet, he didn’t give up and proposed other benefits—flexible working hours and further education opportunities, agreeing to revisit the conversation in six months.

(4) I want to work remotely.

Simona (35), a mother on maternity leave, managed to secure a part-time job with the option to work from home. She presented a plan demonstrating how to ensure productivity and effective communication with the team.

(5) Promotion at work = higher salary, yes or no?

Tomáš (40) was promoted to department manager. He researched market salary conditions in his field to negotiate an appropriate salary increase matching his skills and new responsibilities. He used this argument in his salary negotiation, also presenting his goals and strategies for the coming period.

Your desired salary may be achieved by studying for a professional MBA at EDU Effective.

EDU Effective Business School which offers 100% online, quality professional education. With just 15 minutes a day using the microlearning method, it doesn’t matter if you’re looking to enhance your negotiation chances while working or if you’re at a crossroads, wanting to start your own business. There’s something for everyone. Choose to study programs such as Effective MBA, Effective L.LM., Effective MPA, or Effective MSc., with prices beginning at €594 and the option of installment payments.

Didn’t find a program to your liking? Don’t worry; give a shot to flexible credentials for our marketing, management, HR, or real estate.



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