Negotiating a higher wage is often touted as one of the ‘easiest’ ways to make more money. On its face, that is the truth. Simply asking for more money is a great way to get more money. But it’s not always that simple- you run the chance of being turned down, or of not getting the number you asked for. There are proven negotiation tactics that will help you land the exact number you want, and we’re talking about them today.
Negotiating is often compared to dancing, and it’s easy to see why. You make an offer, they counter offer, you reconsider and offer a second time around- it’s just like moving to the changing rhythm of music.
You can use negotiation tactics to make the process easier and slant it in your favor. Whenever you’re preparing for a round of negotiations, always make sure to be prepared. Do your homework- know what the going rate is for your industry, know specific projects you rocked that you can point to, and know what you want out of it.
Being prepared is just the first step. These two negotiation tactics will help you make more money this year.
Start Out High
When it comes time to name a number, aim high. It doesn’t matter it’s a little unrealistic for the position or your experience. By starting out high, you’re using a tactic called ‘anchoring.’ Anchoring is when we rely strongly on the very first piece of information presented when making decisions. It’s a tendency that’s wired into our brains. So
By setting your number high you tap into anchoring within your negotiation. You’ve planted a number associated with your worth in their brain and it’ll be hard for them to outrun it. Thus with one negotiation tactic you’ve already increased your value and given yourself a shot at actually making more money.
Be Very Specific
Common advice (and sense) tells us that by providing examples of our value, we can sway people to our side of a negotiation. In today’s data-driven world specifics matter more than ever.
Use as many specifics as you can to prove your worth. If you increased traffic to a web page by 5,000 views a day, use that. If you finished 15 projects before their due date, use that. Specifics show not only your value as an employee but also that you are someone who pays attention. You’re on the ball and now everyone knows.
Going into a pay negotiation armed with these tools will put you on more solid footing from the start. These negotiation tactics will help strengthen your chance to earn more money. Use them and let us know how they work out!