The skills to negotiate a higher salary are important for anyone in the tech industry who is looking for a new job or entering a performance review. For many of us, it can be an unpleasant experience that leaves us feeling like we didn’t get what we deserve.
According to a survey by ZipRecruiter, 64% of people starting a new job accept the first offer and miss out on negotiating. But negotiating a higher salary shouldn't only be about the dollar amount you're getting paid. It should be about the whole package.
Remember that benefits and perks can add a lot to your bottom line.
There are several things you should consider when negotiating a higher salary. The first is to understand the value you bring to the company. The more value you bring, the more likely you are to have a successful negotiation.
You might think that you don't have much leverage in salary negotiations, but that's not true. There are many things you can do to increase your negotiating power.
1. Make a list of your accomplishments
A good way to determine how much value you can bring to the company is to keep track of your accomplishments.
Review all the tickets you’ve completed at your company and pick the most impressive ones to showcase. Make a document explaining the most challenging ones, what programming language they used, and why you think they show you deserve higher pay.
Make a list of all the projects you’re working on and the size of the teams involved. Working on a project directly for the owner of your company can be impressive.
When you think about the big tasks, focus on how you were able to accomplish them. Was it because of your experience or was it because of your education? Practice explaining how you were able to achieve those accomplishments so you’re ready during an interview or performance review.
2. Be upfront about your salary expectations
What you want in a raise or as a starting salary should be shared upfront. Management isn't able to read your mind, and if you're too nervous to share your expectations clearly, you'll end up feeling disappointed.
If you’re scheduling a meeting to discuss a raise with your current boss, be sure to include the reason for the meeting in your message. Attach a recent copy of your resume and a list of your accomplishments from the past year. This way, they’ll have a summary of who you are ready at their fingertips.
It's important to communicate your expectations concisely. Beating around the bush will make you seem less confident. The hiring manager or recruiter should know what you want and what you expect. That way, they can negotiate with you.
You might be angry that your current company hasn’t given you a raise, but if you didn't ask for one, it’s likely it just didn’t cross their mind.
Make it clear that you’re willing to negotiate. This will make it easier for your boss or the hiring manager to offer extra benefits if they can't accommodate your salary expectations. You'll likely meet in the middle when negotiating salary.
3. Enroll in continuing education
If you’re feeling stuck in your current position, it’s time to look for ways to grow your skills. To do this, you can enroll in continuing education programs.
Continuing education helps you stay on top of the latest trends in the workplace. If you know what's going on in the market, you can use that information to your advantage when negotiating a higher salary.
When you enroll in continuing education programs, you are investing in yourself. You’re making a commitment to yourself that you will be more valuable to the company. Search for trending tech stacks and find certifications that showcase your ability, like an AWS certification.
If you complete projects on the side, commit them to your GitbHub directory in a timely manner so your commits look regular. Having several small projects in a variety of programming languages can also get you ready for a technical interview.
For example, learning how to reverse a string in Python, how to create a docker container from an image, or how to find all the unique words in a word file with Java, can help you in your next technical interview.
When you improve your portfolio and skills, you are showing that you value yourself and you are committed to your career. It’ll be clear to hiring managers that you’re interested in being the best you can be.
If you’re working for a company that offers a lot of training, make sure you take advantage of that. It will show that you’re a proactive employee and that you can take initiative.
You can also look for ways to work on your weaknesses. Maybe you’re great technically but you lack some soft skills like public speaking. Continuing education isn’t just for technical skills.
4. Keep your resume up to date
A good way to make sure that you’re being compensated fairly is to keep your resume up to date. If you're currently enrolled in training, indicate that on your resume.
In the tech industry, a resume can make or break your job search. That’s why it’s so important to keep your resume updated. Do a quick grammar check to make sure your resume and cover letter are free from embarrassing errors.
Consider professional resume writing services to make sure you're presenting yourself to potential employers in the most flattering light.
5. Do your research
Before you start negotiating salary, do some market research on what other people in your position are getting paid. Also, consider how often they get raises and what benefits competitors are offering.
Look up salary data for your industry and company on sites like Glassdoor Payscale. If you’re a recent graduate, find out what other people in your position are getting paid and use that information to your advantage.
Remember to keep it professional. When you negotiate, avoid getting heated and agitated. Being desperate or rude won’t get you what you want.
6. Exude confidence and understand the value of your skills
When you negotiate a higher salary, you should have confidence in yourself. If you appear nervous, it’s going to be difficult for you to be persuasive. If you are confident in your abilities, you will come across as more valuable to the company.
The next thing you should do is understand the value of your skills. This will help you make a more informed decision about what you should ask for.
If you don’t understand the value of your skills, you might not ask for a raise or you may sell yourself short.
In Closing
When it comes to salary negotiations, you don't have to settle for less. If you don't get what you want, don't let your fears stop you from asking for more.
The tech industry is starving for talent, but there’s also competition for high-paying jobs. Think of negotiating a higher salary as trying to sell something, and that something is your time, experience, and skills.
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