How to negotiate a higher salary - Matt Kolb

How to Negotiate Your Salary (Tips and Examples)

Check out Carson Kolb President Matt Kolb’s insights on salary negotiation in this media article posted April 12, 2021

Matt KolbPresident and Co-founder, Carson | Kolb

Have a good reason to back up your number

One important factor is to know your desired salary and have a reason to back up your number. Is it 10% more than the previous job you had? Is this role bigger than the last role you had? Are you bringing new or much-desired expertise to the role that is going to bring tremendous value?

Think about how negotiations will affect the relationship

Seek a middle ground that satisfies all involved. Companies often demand parity in benefits; instead, focus on increased salary; or consider other ways to accept a lower salary but an added value, such as more vacation or company stock. This way, you’re in it together for the success of the company, not just yourself.

Be sure to negotiate with the right person

Third, avoid asking questions you are uncertain of the answer, and be sure to negotiate your salary with the correct person. You don’t want to bring up your salary too soon. First, seek to understand the entire scope of the role. Then be sure you’re negotiating with someone who can approve what is discussed. It may be their budget, but it’s your money at stake.

Keep your negotiation rational

No one wants to work with the person who rakes them over the coals. Focus on an amiable figure and if necessary, ask for a performance review in six months with set goals to achieve by then to prove that you’re worth those added dollars and how that investment is going to benefit the company in terms of growth.

All-in-all, salary negotiations are important to you and to the company, so do your research. Find out what the average person in this type of role makes in the area where the company resides and then show how your expertise is going to contribute to the growth of the company.

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