Whether you are trying to get a job offer from a new employer or you are just negotiating a salary for your current employer, there are a few things you need to know before you start your negotiations.

Preparation is key

Getting a job offer can be a stressful experience. However, when you properly prepare, you can enjoy a smoother ride and retain your hard earned money in the process. In fact, research shows that a properly negotiated offer can save you over a million dollars over the course of your career. The following are some of the most important things to keep in mind when it comes to getting a good deal on your next job.

The best way to do this is to research the job market and the competitive landscape. By doing so, you will have a better understanding of your strengths and weaknesses as a candidate and will be better positioned to negotiate a better offer. It's also a good idea to get a second opinion on your offer before you accept it. This will allow you to find out if the other person's offer is too good to be true.

While you are researching the job market, it's important to find out what the competition is paying their employees. This can help you determine how much money you should accept and what you should offer in return. After all, your salary may be the biggest factor in your hiring decision. You want to make sure that you are able to meet or beat your competition in this highly competitive arena.

Another key component to negotiating a good offer is to understand the company's budget and what is expected of you. This will allow you to make better offers that are in line with your expectations.

Write a scripted explanation of what makes you deserving of a higher salary

Regardless of whether you're interviewing for a new job, or just need to negotiate a raise with your employer, it's important to prepare a scripted explanation of what makes you deserving of a higher salary. Writing down a case helps you to make a professional presentation and ensures that you're not emotionally involved.

You'll need to present a clear commercial case to justify a salary increase. This should include evidence of your value to the organisation and how it contributes to the profitability of the company. You should also refer to KPIs and cost savings. Ensure that you include examples of your achievements beyond those in your job description and objectives.

You should also consider asking your employer to agree to a pay-linked element, which would require you to perform extra work. It's the most positive way to ask for a raise, and employers often respond well to extra work. However, you should be prepared to ask for this kind of pay increase if you don't feel as strongly about it as you would like.

To make a strong deserving case, you'll need to research your prospective company's position, as well as the market. For example, a UK 2007 earnings survey report showed that companies that pay more tend to attract the best people. You should also be prepared to provide references from market players, and prepare to use them to support your case.

Finally, be prepared to make the case in a two-way review. Make sure that you have a good reputation with your boss and that you're well-regarded by senior managers. Also, don't forget that time works in your favour. You can always buy yourself some time to think about the offer, or even to negotiate an alternative job offer if your employer seems obstinate.

Finally, you'll need to prepare for the final discussion, which usually takes place over the phone. This is your last chance to improve your compensation package. Typically, a 3-5 minute phone call is all that's required.

To prepare for the final discussion, you should have a script ready, and you'll want to practice it. This will ensure that you're ready to make a strong case.

Avoid salary negotiations during recruiter screenings

During recruiter screenings when applying for a new job, it can be intimidating to ask about salary. You may have concerns that you will look greedy or money-focused if you ask. But it's important to be open and flexible about how much money you'd like to earn.

If you are unsure of how much to ask for, do your research and figure out a range that you feel is reasonable. You should also consider how much the position is worth, your qualifications, the industry, and your location. You should also do your best to keep your answer as vague as possible. This will show your future employer that you are flexible and can work within the organization's budget.

When you're negotiating for a new job, it's important to start early. Many employers aren't as transparent about salary as they should be, so it's crucial to ask about compensation as early as possible. Recruiters will often ask about salary expectations in a cover letter or during a screening call.

You should also know your market rate and be ready to ask for a higher salary. This can help you avoid the common mistake of asking for too little. If you're asking for a higher salary, it's best to research other positions in your field and look for salaries that are above your desired level. You should also be prepared to explain why you would like a higher salary.

It's a good idea to practice your responses with friends or family. You may also want to consult a career mentor to get advice on how to ask for a higher salary.

It's also important to be polite and professional when negotiating your salary. You don't want to scare off recruiters or have your offer pulled. Also, you don't want to make it seem like you're trying to get a better job for the sake of getting a better salary.

If you're not sure of your target salary, research salary trends for your industry and area of the country. Recruiters aren't always sure how to budget for salaries, so they'll be more likely to give you a range when they ask about salary.