The Biggest Mistake in Wage Negotiations Is Not To.
When it comes to salary negotiations, there are many strategies you can try and pitfalls to avoid . The biggest mistake, however, is not doing it at all, which the full 18% of people never do , according to Salary.com.
As we discussed earlier, not being able to negotiate a paycheck can be very costly in the long run – up to half a million dollars in a lifetime . This may seem like reason enough to get rid of the anxiety of having an awkward conversation with your boss or interviewer, but many people still don’t. Not only do 18% of people fail to come to an agreement during interviews, Salary.com reports that 44% of employees also do not raise the issue of improvement during their annual performance reviews . As the personal finance blog Money Ning explains, this is the first big mistake when it comes to negotiating salaries. Not only because the money is on the table, but because the employer expects you to do it:
Most are hesitant to do so, or are simply afraid that if they ask for more, they will look bad. But what’s interesting is that hiring managers almost always expect the candidate to negotiate . No matter what stage in your career you are, you always have the opportunity to ask for more, and hiring managers almost always have the extra leeway to satisfy those requests.
Regardless of how you feel about your chances of negotiating a higher salary, it is almost always worth a try. In the worst case, you may find that your employer is unwilling to pay a higher salary, which may tell you something about your long-term prospects at the company. There may be times when salaries are inflexible and companies always obey the budget, but there is always a chance to increase your income simply by asking .
Negotiate Higher Salaries By Avoiding These 5 Mistakes | Ning’s money