Salary Negotiation - Did you get the cherry on top?

Putting a value on your time, particularly when it's the pursuit that you spend the majority of your life in, is a sensitive and important topic.  Everyone wants to be paid fairly to reflect their efforts and ability so here are a few tips that might help when you next consider salary discussions either as part of an internal performance review process or during the recruitment process.

1 Do your research to set realistic expectations
There are countless salary surveys out there that can help you identify the market rates and ‘ball park' in which you should be for the position you are considering and the amount of experience you bring to a particular role. 

2 Demonstrate what you are worth
Whether during salary review or interview process the best way to justify salary expectations and salary increase is to outline the value you bring to an organisation, through past performance and achievement.  What savings have you achieved in a previous role? Efficiencies created?  Profitable products developed? Sales achieved? What projects have you delivered on time, on budget? What team results have you led? You get the idea.....

3 Don't be afraid to promote yourself
Promotion goes beyond the mere demonstration of your value.  Everyone needs to be a salesperson in salary negotiation, representing Brand "You".  Don't be afraid to speak up about the positive contributions you have (in the case of salary review) or will (in the case of recruitment) make and promoting your cause for a higher salary.  While it generally doesn't present well to quote a particular figure as your sole focus, if you promote and present yourself well it will become evident what your contribution is worth.

Now ladies, did you get that?  One of the reasons suggested for occupation salary discrepancies for females is that females are generally not as strong at self-promotion, particularly when it comes to salary. 

4 The final offer
Most important, don't start your negotiations when an offer has been made.  By the time you receive the offer or review you should have commenced discussions with your Manager or Recruiter regarding your expectations, salary and conditions the company has on offer and have a broad understanding that the key details will be suitable to both parties.  Negotiations after an offer should ideally stick to finesse of the finer details. 

Finally, know when the negotiations are over, as to push beyond this point will only have negative outcome.

Now it's pertinent to add a note on the economic times.  Yes things are looking to be on the upswing however, many companies will have restrictions on salary reviews in the coming review cycles so as it says in point 1 - do your research to ensure realistic expectations, but hopefully with these tips you will be well placed to ensure you get the piece of the pie you deserve.