5 Tips to Negotiate a Higher Salary in an Interview

5 Tips to Negotiate a Higher Salary in an Interview

This article was written by Cassidy Hennigan, an avid part-time writer with a passion for career classes.

Although plenty of workers are currently happy with the career they have, it is obvious that down the line you are going to come across a need or want for a higher salary.

Most people are concerned with having enough money to cover their monthly spending budgets. But some are greedier with promotions and aim to build staggering wealth with their new salaries.

However, no matter what approach you take, everyone must make more money somehow.

The main problem most workers have are poor negotiating skills for a higher salary. Some even forget that salary negotiation is a driving factor in the interview process altogether.

In this article, we will be going over the five most important tips to negotiate a higher salary in an interview so you don’t get cheated out of the hard work you do.

1. Do your Research and Know Your Value.

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Before you march into your hiring manager’s office and demand a higher salary, you need to first know what your experience and skills are worth.

This way, you can come up with a more reasonable salary that your managers will appreciate paying. Plus, your research will also help back up your salary increase demand with actual evidence instead of proclaiming it on a whim. Not to mention, it will help build up your confidence when asking for it as well.

Above anything, researching a higher salary for your position is one of the most important steps to take when negotiating one in an interview.

The amount of experience and skills you have means more to your employers than the job you’re applying for.

For example, a senior marketing manager with an extensive history with 10 years of experience with skills in programming and graphic design, is going to be worth much more than a simple senior marketing manager with five years of research.

Don’t take your skills for granted. They will help you land your dream job and dream salary down the road. Never forget to include them in your resume and bring them up when negotiating your salary.

You should also take into account that your value to the company you’re working for is more than just your experience, instead think about how you could help the company down the line.

For example, let’s say you are looking for a job in the IT field. There is a lot of demand for highly skilled professionals and salaries are usually on the top end of the spectrum.

For receiving the salary of a computer technician, you should know how to set up hardware and maintain technological equipment. But if you do, be sure to emphasize it, as this will be in your favor.

2. Don’t Think About Your Previous Salaries.

A common mistake that most people make when negotiating their salaries during an interview is bringing up their previous salaries.

Your employers may take advantage of you and keep your previous salaries or add a small percentage to it. However, this can be a struggle when making negotiations towards a higher salary.

Remember that during your interview, you shouldn’t bring up your previous salaries or use it as a base for your new pay. Instead, you should use the research from the section above to find a more competitive salary amount that you hope to be paid in the future.

3. Choose the Top Market Value of Your Job as Your Salary.

While researching your market salary, you’re more than likely to find a range of salaries that your market pays people in your job position.

Although you may want to opt in for a middle range number for your salary, don’t be afraid to choose a higher number to negotiate your salary with in your interview. This way, even if your hiring manager negotiates down, it will still be a high salary.

Researchers at Columbia Business School suggest that you should also ask for a specific number. For example, you should choose $63,950 instead of going with $64,000. This shows that you have done extensive market value research to your employers, instead of just choosing a random number for your salary.

4. Focus on What the Market Value is Paying Others in Your Position.

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Instead of focusing on discussing what your new salary can do for you, mention how your salary amount is paying people in your job position. This includes negotiating using percentage differences versus dollar amounts.

The worst thing you can do in a negotiation is bringing up personal needs.

For example, if your monthly expenses have risen. Instead, you should try reasoning with your manager that your experience and skills cost more.

5. Don’t Let Making a Counter Offer Intimidate You.

You may be wondering what to do if the hiring manager says no. Though you may not have received the answer you wanted originally, it does not mean the discussion is over.

Don’t be discouraged from making a counter offer. Try reiterating how much you want to work with the company and the team. Make sure you focus on how well you are suited for the job and how much your skills are worth.

Try to keep the conversation positive and refrain from making any threats. Don’t threaten to leave the interview.

You should also avoid mentioning any other job offers, interviews, or conversations with recruiters as a threat.

Avoid any negativity and focus on the value you add to the company.

Though there is no guarantee that you will receive the higher salary, you will regret it if you do not ask.

Negotiation can be intimidating, it is an important skill to learn. Be sure to do your research, crunch the numbers, and don’t be afraid to bring it up during the interview.

With a little bit of work, courage, and these tips to negotiate a higher salary in an interview, you will be able to get the salary that you deserve.

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How This Family Guy Makes $10,000/Month Online Teaching Others How to Make, Save and Invest Money

How This Family Guy Makes $10,000/Month Online Teaching Others How to Make, Save and Invest Money - Interview with R.J. Weiss from TheWaystoWealth.com

This is an interview-style post with R.J. Weiss from The Ways to Wealth.

Hey R.J. What’s your background and what do you do?

I blog about all things personal finance at The Ways to Wealth.

Before I went full-time into blogging, I spent ten years in the financial services industry. Specifically, helping families buy the right type of life insurance.

During my time with a full-time job, I’ve always had different side hustles going on. From freelance writing, Amazon FBA, conversion rate optimization, to website design — there were many projects I pursued outside of work.

How did you start your career in finance?

I got started in finance straight out of college working for my the family insurance business. As I love the financial planning side of things, I choose to specialize in life insurance planning. This led me down the path to obtaining the CFP® Certification.

What made you start blogging?

The Ways to Wealth, which I started in 2016, has been my 5th blog.

The others mostly fizzled out most due to a lack of interest. But, in 2009 I started a personal finance blog called GenYWealth.com (no longer around) that had some success.

The idea GenYwealth.com was to write about what I was learning about studying to take the CFP®. The blog was, by all means, a success. I was able to gain valuable knowledge, pass the CFP® exam, earn some extra money and build up a good community.

I then took this knowledge and started a business blog, which allowed the insurance agency I was working for to generate leads.

I started The Ways to Wealth because my passion is personal finance–from investing to travel hacking, I love the challenge of optimizing my finances.

How was The Ways to Wealth born?

I didn’t have much of a plan for starting The Ways to Wealth when I purchased the domain name.

I was actually thinking it would be a niche site, which was inspired by Pat Flynn’s niche site duel. Then, I came across the income reports of Michelle Schroeder-Gardner and wisely changed direction to a more traditional blog.

This change came about 6-months after starting to blog.  I did a timeline of the site in one of my income reports.

What worked best when trying to grow the site?

I had a decent knowledge of SEO. So at first, I started growing the site with email outreach. One of the first posts I had about best investing books of all time, had about 15 links to it.

This was nice to start with but was quite slow to build up, as it can take a while to earn Google’s trust.

The big turning point came when I started to understand Pinterest. I spent a few frustrating weeks on the platform, then it finally started paying dividends.

I went from about 100 sessions a day to 1,000, which was huge for me at the time.

How did you get to 3 million monthly viewers on Pinterest?

the ways to wealth pinterest 3 million monthly views

I lay out my Pinterest strategy here. But at the core the idea is to:

1) Write high-quality content that Pinners want to click through, read, and share.

2) Pin to my own and high-quality group boards, with a keyword-rich description.

3) Continue to Pin my best pins across my own boards/group boards, ruthlessly eliminating Pins that don’t perform well.

One thing to keep in mind is impressions don’t mean much on Pinterest. What counts are clicks to your website. So, you want to design not for impressions but clicks.

What aspects of the online business are you outsourcing or automating and how?

The first thing I outsourced was Pinterest design. I’ll design about 30-40 pins a month, so this was big time saver for me.

Of course, it took some work to get going. At first, I hired 5 or so people on Fiverr. I found one decent designer but the work quality deteriorated over time.

I then went to Upwork and posted a job for a  graphic designer. I found a great team down in Argentina, who I’m very happy with.

I’m currently experimenting with working with a ghostwriter. A few of my latest posts have been transcribed from my recording, with the ghostwriter making sense of it all.

I can compile about 3 posts in 90 minutes, then take another 90 or so minutes to prepare them. Saving me around 3-4 hours per post this way.

What’s your main income stream and why do you think it works for you?

My main source of income for the blog is affiliate revenue. It works because the partners I do have are high-quality businesses, who deliver value and solve real problems. This makes it easy to naturally link to such a partner.

When did you start making more than $10K/month and what was the turning point?

My first month over $10K was in January of 2018. In December of 2017, income was around $3,000 and in July of 2017 around $500. So, it was definitely a jump.

What happened then in January?

First, personal finance is at its peak interest in January.

Second, I had multiple Pins go viral.

Third, in November I started driving traffic via Facebook to the site. So, in January I could take campaigns I’d been fine-tuning for a few weeks and scale them.

How do you balance work and family life?

I have a routine I stick to Monday through Friday.

When inside of my designated working hours, I work. When outside of these hours, I’m not.

This is a lot easier said than done. But the thing important for me is not to take work everywhere I go. This means I don’t have any apps on my phone that are work-related (email, analytics, etc..)

What are you 3 best finance tips for newbies?

  • Focus on your savings rate. How much you save is the most important decision you’ll make.
  • Small incremental improvements add up over time. My favorite example is increasing your savings rate 1% every quarter, means you’ll be saving 20% of your income in just 5 years.
  • Study happiness. Become a student on how to increase your level of happiness. The natural result is you’ll want less overtime, making the game of personal finance a lot easier to win.

What books, blogs or podcasts help you stay motivated along the way of growing an online business?

I read a fair amount to keep fresh ideas in my head.

My favorite podcast is The Tim Ferriss Show.

Two blogs I enjoy reading are:

Farnam Street
Barking up the Wrong Tree

And as far as books. I try to read one a week. A few books I would recommend to online entrepreneurs would be:

Deep Work by Cal Newport
The Compound Effect by Darren Hardy
The Four Hour Work Week by Tim Ferriss

Pin this post if you enjoyed the interview.

Check out my interview with R.J. from TheWaystoWealth to see how he entered the finance niche, started making money blogging, began bringing traffic from Pinterest and monetizing it with affiliate marketing, and is now making $10,000/month from his online business. #blogger #interview #blogtraffic #incomeideas #income