It’s natural for professionals to associate salary with worth. Because of this, it’s common for us ... [+]
Kate Dixon is a salary negotiation coach and compensation consultant with a goal of helping individuals and companies negotiate for equitable salaries. She joined Negotiate Anything to discuss the biggest mistakes professionals make during salary negotiations and key advice for navigating these conversations with confidence.
Mistake #1: Taking Things Personally
It’s natural for professionals to associate salary with worth. Because of this, it’s common for us to take salary negotiations personally, especially when the offer is disappointing. According to Dixon, more often than not, a salary offer says more about how a company values the work itself, not the person. Keeping this in mind can help you maintain perspective in the conversation.
“You really have to look at it as a business problem that you’re trying to solve collaboratively,” she advised.
If you find yourself struggling to depersonalize salary negotiations, Dixon encourages her clients to imagine they are advocating on behalf of a close friend. In this scenario, you would do the best you could to secure an ideal outcome, but there would still be some emotional distance between you and the final result.
Another strategy is to practice how you will respond to each potential scenario. More than likely, they will either say yes, say no, or share that they will have a response at a later date.
Before the conversation, take time to role play and practice responding to each scenario out loud. This will be an important part of your strategy, in addition to conducting thorough research on the computer and appropriate salary ranges.
Mistake #2: Underestimating Silence
As with any negotiation, preparation is critical for any potential success. That said, in the moment, the fast-paced nature of the conversation can create a false a sense of urgency. This makes it difficult to identify where to interject with your research or counteroffer.
To slow these conversations down, don’t underestimate the importance of silence.
“Make your request and then just be quiet,” Dixon shared. “Don’t try to fill that space. Give them a moment to process what you just asked for and allow them the opportunity to respond.”
Also, don’t forget that it’s okay to ask for time. In fact, Dixon advises her clients against accepting an offer on the spot.
“Take a moment. Being deliberate. If you need some time, ask for time,” she said. “All of those things are okay to do in these conversations.”
Mistake #3: Skipping the Conversation
As uncomfortable as these conversations can be, try your best not to avoid them. As Dixon shared, these negotiations are not only an opportunity to earn a higher salary, but they show a company what type of leader/employee you would be.
This is especially important for women, who tend who avoid salary negotiations in order to be perceived as nice. The same is true for those interviewing for their dream job. Because they fear jeopardizing the opportunity, they are more willing to accept the first offer.
The willingness to engage in this conversation will not only convey confidence, but will help build confidence as well.
Dixon explained, “You aren’t always going to get exactly what you want, and that’s okay, but if you’ve advocated for yourself, you are going to feel fundamentally different about the offer and opportunity.”
As a compensation consultant, Dixon is equally concerned with helping companies offer more equitable salaries to their employees. She encourages listeners to remember this, as it can help them remember the value of the conversation, beyond their personal interests.
Remembering Your Negotiation Power
According to Dixon, professionals will rarely have more negotiation power than they do as a candidate, making it critical to seize the opportunity to advocate for higher earnings.
“By not negotiating, you are giving up a lot,” she shared.
To learn more visit katedixon.org. To listen to the full episode, click here.
