Enjoy this sneak peek inside our Practical Guide to Job Search Success!
If you dread negotiating your salary, you are not alone. Negotiating salary is something that most people dread. Here are a couple of the most common mindset mistakes that women make over and over again when it comes to negotiating their salary:
1) “Well…first I will submit my resume and give a great interview. Then, I will prepare for the salary negotiation.”
2) “I will wait until my boss gives me a raise. I trust my company to reward me for what I am worth.”
3) “My boss knows how hard I have been working.”
4) “The economy is pretty bad right now so I know that I probably will only get a 1-2% raise.”
If you have ever thought any of these thoughts, you will never get paid what you are worth.
Here are five things you need to understand to get paid what you are worth during salary negotiations:
1) Understand Benchmarking
Benchmarking helps you understand how your organization compares with similar organizations. It is the process of determining who is the best, who sets the standards, and what that standard is. Your ability to understanding benchmarking is important for salary negotiations because you don’t want to be in a company that is never going to pay you what you’re worth. Understand how employers decide the salary level in your industry and adjust your job search accordingly. There are a variety of benchmarking tools you can find but these include comparing pay rates with the following:
- Average pay at other companies in the industry
- Average pay for professionals with your level of experience and education
- Average pay for professionals in your field in your area of the country