How to Negotiate Your Earnings

Posted on August 23, 2012

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Let’s face it.  When it comes to finances, we all want to earn as much as possible as quickly as possible.  Is that logical?  For some professions, perhaps, but for most professions, there are a number of factors that come into play.  The location of your job, the type of industry you’re in, your educational background, and experience will all determine how much you should generally make.  Do you feel like you are worth more than you make?  How can you present that to your boss professionally?

Know What You Bring to the Table

Make sure you understand your role at the company and how important it is.  Could they do the work load without you?  What makes you stand out or differ from others?  Maybe you’re extremely dedicated to the company, always show up on time, have an enthusiastic attitude, and show that you have a quality work ethic.  If that’s the case, know that about yourself!

You’re Educational Background & Experience

In today’s world your education is a major factor when finding work so know what your position requires.  Maybe you only need a high school degree, or maybe having a master’s degree is required.  Whatever the requirements are, make sure you have at least that.  If you have more than requested, that’s where you can have leverage to propose earning more.  Your experience plays a major role too.  If you’ve been in the specific industry for a long time and know more than the average person, you’re an asset to the company and have that on your side for negotiation!

Do You’re Homework

RESEARCH the position you’re in and the location that you’re living in.  What is the average salary for someone with your experience, your same educational background, and the location you’re living in?  Where do you fall?  If you’re earning a lot less than others, it can be a reasonable conversation to have.  Location is everything, as I’m sure you’ve heard!  Consider the location you’re in and the average cost of living.  Someone in the same position who has similar skill sets might earn more in an area that has a higher cost of living.

Listen to Both Sides

It is rare that people step back and take the time to review both sides of the spectrum.  Think of your side of the story, why you want to earn more, why you think you deserve it, and how much you feel is reasonable.  Now go to the complete opposite side and consider what your bosses perspectives might be.  By taking the time to analyze both sides, it might give you more insight or clarity on your earnings.

Talking about earnings can be an awkward conversation, if you let it.  Spend some time considering the logic behind why you feel you deserve more.  Think about the company and your bosses perspective(s).  Be patient, work hard, and keep setting goals to reach your dreams!

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Posted in: Business