Career Savvy: Earn what you're worth

By Troy Behrens, Executive Director of the Hegi Family Career Development Center

If you learn nothing else from this article, remember this: Don't negotiate just your salary; negotiate your career development and growth.

Some information that supports this pearl of wisdom is in order. Back in the late 1990s, Jack Chapman wow'ed everyone with his concept of "How to Make $1,000 a Minute". In the go-go '90s, this was a very appropriate way to negotiate. It was all about you – and a dash for the cash!

Employers got wise pretty quickly, and handing out briefcases full of money, perks and benefits became an exception rather than the rule. Now that off-shoring has taken hold, we find ourselves in the backseat, not the driver's seat. Negotiations are no longer wide-open express lanes; they're clogged side streets in rush hour.

Since the pressure is on to earn more just to keep up with the cost of living, to stay sharp to keep ahead of off-shoring threats and to pay off that $150K in student loans, being a savvy salary negotiator is as critical as ever.

Unfortunately, most of us crack under this pressure. In fact, the vast majority of us fit one of these negotiation personality types:

• The pacifier: Avoids conflict at all costs
• The theologian: Is very factual, cold and rigid
• The idle threat: Threatens to retaliate if his or her demands aren't met
• The runner: Backs away at the first sign of disagreement
• The non-believer: Undermines him or herself by lacking confidence
  

If you resemble even one of these typologies, you could use a little brushing-up and skill-sharpening.

We all know that the first step in solving a problem begins with identifying its underlying cause. So, let's briefly look into some common negotiating sins:

• Fear of rejection: Don't be afraid to ask. The worst that can happen is you'll get a "no" for an answer. Most employers expect employees to try to negotiate; it's just good business.
• Lack of knowledge: Don't open your mouth unless you can back it up with dozens of references.
• Applying for lateral or lesser jobs: When you change jobs, move up. Negotiating for a lateral move will get you nowhere.
• Inappropriate timing: Recessions, bad quarterly earnings, a new CEO – all impact your ability to add to your bottom line.
• Talking too much: Be careful not to talk yourself into a hole. State your "wishes" and quietly listen to the reply.
• Demanding too much: Be realistic and humble throughout the process.
• Negotiating with the wrong person: HR managers, recruiters and even some direct supervisors can't and don't have the authority to help you negotiate. Before you jump in, make sure you're talking to the right audience.
• Targeting companies because of prestige: Smaller companies almost always have more room to negotiate salaries and benefits. Marquee corporations won't negotiate because they're doing you a favor with the honor of working there.
• Playing cat and mouse games: Stay away from the game of "Why don't you tell me what an acceptable salary is"! It's insulting. Be open, honest and tactful – you'll get much further.
  

Carmine the not-so-great negotiator
Below is a real-life example about how one person's barriers muddled the negotiation process:

Carmine was about to graduate from a prestigious university. He was hoping that, during his out-of-state interview and corporate tour, he would have an opportunity to field an offer and negotiate his salary.

During the morning coffee and continental breakfast, Carmine met with his host for the day, the college recruiting manager. Amid the excited chatter of 19 other out-of-town candidates, Carmine pulled aside the recruiting manager and said,
"Listen, I don't have any time to waste. Take a look at this (shows eight offer letters from other corporations). You know why I got all of these offers? Because I'm a valuable commodity. My best offer is $75K. If you and your company can't beat that by $10K, I'm walking."

The recruiting manager's next words were: "Let me call you a cab. You can catch the 9 a.m. flight back home if you really hurry!"

Carmine broke at least five of the negotiating sins – and funny story: He tried the same tactic with the other eight places he received an offer, and six of the eight rescinded because of his lack of integrity.

Learn from Carmine's mistakes and:

1. Never discuss salary until a job is offered.
2. Let the employer go first and provide a starting number or range.
3. After the offer is made, silence is golden; never counter immediately.
4. Always provide a well-researched response.
5. Demonstrate your worth by how you can save your employer time, or make and save money.
6. If you can't get the salary you wish, negotiate for long-term growth, training, additional vacation days, conference travel, a promotion plan – invest in the future.
   

Even if the negotiation doesn't work out in your favor, it's still a wonderful experience. Always pay special attention to how you are treated during the negotiation process; it's indicative of the workplace culture. If the employer is secretive, disrespectful or cold, just image how they'll treat you once you're on board.

Labels: career savvy, negotiating, salary