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Salary Negotiation 101

Negotiating salary can seem intimidating if you aren't sure how to go about it, but it's an important skill to learn. People who don't negotiate their compensation wind up losing out on thousands and thousands of dollars as well as many other perks that could easily be theirs if they had simply asked for them at the right time.

Ever wonder why some people earn so much more than others who do the same work?  The answer is shockingly simple - the ones who earn more know how to ask for what they want. Invest some time in learning how to successfully negotiate your salary and you could end up earning significantly more money over the course of your career.

Why You Need to Negotiate

If two stores are selling the exact same coat, and one is charging $100 more than the other, which store would you be most likely to buy it from? All other things being equal, most people would opt for the store that had the better price.  After all, a hundred dollars is a lot of money - there's no sense in throwing it away! Amazingly, many people throw away literally tens of thousands of dollars when they take new jobs or new job roles simply because they aren't sure how to ask.

If you want to earn what you're worth you need to learn how to ask for it. Why? Because you'll never get it if you don't ask.  You'll never hear an HR manager inquire "Are you sure you don't want more money for this position?"  - but make no mistake, they do expect you to ask.

When you receive a job offer you will often get a letter spelling out the terms of your responsibilities and the salary figure.  Don't' be fooled - this isn't the real offer.  The initial offer is generally on the low side because you are expected to make a counter-proposal for more.  If you accept the offer as is, it will be your loss.  There was more money in the pot earmarked for you   - but only if you had asked for it.

When your job responsibilities change at work you need to discuss your salary again.  Your employer may not have funds earmarked for this increase yet, but it's infinitely easier and more cost-effective for them to pay you your due than to try to look outside the organization for a new candidate to fill your shoes.   An external job candidate will doubtless ask for the same amount or more, anyway.

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