You've been headhunted, but you're feeling comfortable at your current job. You know the only thing that will motivate you to move are a couple of things: 1. The environment looks enticing, 2. The culture seems great, 3. The challenge is something you're up for and 4. A higher pay is always better. So how do you negotiate for something better?
1. Research a fair salary
Figure out how much you want but ask for a bit more to leave room for negotiation. Practice negotiating it as well with someone in a role-play experience.
2. Use the Noel Smith-Wenkle Salary Negotiation Method
The first rule of
Smith-Wenkel's method is to never tell the employer how much you'll take.
1. If the company asks for a number on the application, leave it blank.
2. When the company verbally asks how much you'll take, say: "I'm much more interested in doing [type of work] here at [name of company] than I am in the size of the initial offer." Smith-Wenkle says this will suffice about 40% of the time.
3. If the company asks a second time, your answer is: "I will consider any reasonable offer." This is a stalling tactic, and Smith-Wenkle says this will work another 30% of the time.
4. About 30% of the time, you'll reach this final step. Your response is a polite refusal to answer the question: "You're in a much better position to know how much I'm worth to you than I am."
1. Postpone salary negotiations until you're offered the job. Let your potential employer decide first.
2. Let the other side make the first offer. Your goal is to allow the employer to suggest a salary.
3. When you hear the offer, repeat the number—and then stop talking. This is "the flinch". "The most likely outcome of this silence is a raise," he says. This technique buys you some time to think while putting pressure on the employer. They'll most likely come back with a higher offer.
4. Counter the offer with a researched response. It should be based on yourself, the market, and the company.
5. Clinch the deal—then deal some more. Negotiate additional benefits if you can.
4. Be silent
It's always best to let the other side to the talking. When you receive an offer, follow the offer with "the flinch", - which is a long period of silence.
5. Be persistent
Most employers will reject your first request for a higher offer. Just push back gently, justify your proposed salary and explain how the company will benefit from having you on board. Reiterate your enthusiasm for the role and what it stands for.
6. Be flexible
If the company won't meet your salary demands, negotiate on other things such as compensation, from a higher EPF to a more perks and claims.