As they enter the workforce, people realize that while money doesn’t equate to happiness, a higher salary allows for a better quality of life. Looking to improve their career, those in the workforce often desire the ability to negotiate a higher salary, believing they are worth more than what is offered. Anyone can learn how to best negotiate their salary with advice from the Texas A&M University Career Center, courtesy of Executive Director Samantha Wilson.
Research Before You Interview
For those who want to maximize their salary, especially students entering the workforce, an important tool people can use is to research what people typically make in a similar major or job, says Wilson.
“When you are interviewing with a company, you should have done your research on the organization to understand their industry and their business,” says Wilson.
Using resources, such as the Texas A&M Career Center’s salary data, that show what an average graduate makes can help people understand the range of what they are worth and what they should expect to be offered going into the workforce, says Wilson. Additional online databases like www.payscale.com can also be very helpful.
Learn to Articulate Your Value
The key to any negotiation is understanding your value, including how your skills, abilities, and knowledge contribute to you carrying out the duties of that position beyond expectations, says Wilson. Whether trying to improve an initial offer or asking for a raise, it’s important to articulate the reason behind a higher salary.
“Anytime that you are seeking advancement, there are several things that become important in that process,” says Wilson. “Number one is understanding the why behind why you’re asking. Being able to demonstrate and articulate your value to show those measurable outcomes is the most important thing. Have you gone above and beyond expectations in that job? Are you adding value to the organization?”
Building Marketable Skills and Experience
Building experience, both in terms of internships as well as individualized skills, is one of the best ways to help increase your salary no matter what your age or career.
“Building marketable skills is an important part of increasing your initial value,” says Wilson. This can be dependent on level of experience. Having an internship with the same skills, the ability to speak a foreign language, or experience with specific technology are just some of the skills to increase your market value, she says.
Justify Your Reasoning Behind A Raise
When entering a salary negotiation, it is important to help illustrate the additional benefit you provide. Successful salary negotiations typically include discussions of data, such as industry trends, value-added skills, and relevant experience, that justify the increased salary or additional benefits.
“If you have done something that has increased the value of your division or increased production, being able to show that will help justify why you deserve a raise,” says Wilson. “What is the standard in your company or in your industry for those kinds of increases? Can you demonstrate metrics and outcomes for what you have done? Do you have measurable outcomes that demonstrate your success in the position? Being able to articulate your accomplishments is an important part of the process.”
Discuss Career Options Early
For parents of college-ready children, getting a head start on their child’s career aspiration is a great resource for their future. Discussing career-based decisions with them early on will greatly benefit them when they enter the workplace, says Wilson.
“I think as students enter college, those discussions about personal development, career exploration, and career development should start early on,” says Wilson. “At the Career Center, we try to get students thinking about that as early as their first year in college. Building those [skills], including looking for organizations and activities on campus where you can build an understanding of certain industries and then looking at opportunities to start expanding your professional network.”
