You're about to negotiate a salary. What are the most important factors to consider?

1 Know your worth

Before you enter any salary negotiation, you need to do some research and analysis to determine your market value and your desired salary range. You can use online tools, industry reports, and your network to find out the average pay and benefits for your role, skills, experience, and location. You also need to consider your personal goals, needs, and expectations, as well as the cost of living and taxes. Having a realistic and reasonable salary range will help you negotiate confidently and effectively, without underselling or overselling yourself.

2 Understand the context

Another factor to consider is the context of the negotiation, which includes the employer's situation, the industry trends, and the social and environmental issues. You need to be aware of the employer's budget, priorities, challenges, and opportunities, as well as their CSR values and policies. You also need to be informed about the current and future demand and supply of your profession, the competitive landscape, and the potential impact of your work on society and the planet. Understanding the context will help you tailor your negotiation strategy and arguments, as well as show your alignment and interest in the employer's vision and mission.

4 Communicate effectively

The way you communicate during the negotiation is as important as what you communicate. You need to use clear, concise, and respectful language, as well as positive and assertive body language. You also need to listen actively, ask open-ended questions, and acknowledge the employer's perspective and concerns. You also need to express your gratitude, appreciation, and excitement for the opportunity, as well as your willingness to collaborate and compromise. Communicating effectively will help you build rapport and trust with the employer, as well as convey your professionalism and confidence.

6 Review and finalize

The last factor to consider is the review and finalization of the negotiation, which involves verifying, clarifying, and confirming the details and terms of the agreement. You need to ask for a written offer letter, check for any errors or discrepancies, and negotiate any changes or adjustments if needed. You also need to consult a lawyer, an accountant, or a financial advisor if necessary, to ensure that you understand and agree with the legal and financial implications of the agreement. You also need to respond to the offer in a timely and respectful manner, and communicate your decision and acceptance clearly and politely. Reviewing and finalizing the negotiation will help you avoid any misunderstandings or conflicts, and secure a successful and satisfying outcome.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?