“It looks like a cash grab” – NBC 7 San Diego
3 mins read

“It looks like a cash grab” – NBC 7 San Diego

The secret to a successful salary negotiation is not what you ask for, but how you do it.

Whether you want 10%, 20%, or 50% more than what was offered, you need to make a compelling case for why you’re worth it.

Adam Broda, a senior executive at Amazon and career coach, has spent more than a decade in recruiting—and he says one of the most common and costly mistakes people make in a salary negotiation is asking for a higher salary without explaining why. behind their request.

“If you just throw out numbers without providing a chain of logic about how you got there, it looks like a cash grab,” he says CNBC does.

You also risk coming across as “inauthentic or selfish,” warns Broda.

“It has the potential to make a more negative impression on your potential boss,” he says. “If I don’t understand why you need that money or why it’s important to you, it might look like you’re asking for more because you thought you could benefit from the hiring team.”

Explain why you deserves a higher salary makes the conversation more collaborative than confrontational. It also shows the hiring manager that you’re invested in the role and have done your homework, Broda adds.

For example: You can ask for an additional $10,000 to offset the costs of a longer commute, or the salary is more in line with the market average for the role.

DON’T MISS: The ultimate guide to negotiating a higher salary

Broda recommends giving one or two concrete examples of why the company should invest more in you, and to be as specific as possible.

You can record:

  • Several years of experience, if you have more than what the employer specified as a minimum requirement
  • Results you’ve achieved in previous roles, including revenue you’ve helped generate
  • Skills you possess that are in demand in your field

Referring to estimated salaries in comparable roles, or other industry data, to support your question is a strong play, says Broda.

When employers see the data that supports your request, it becomes clear that you are looking for a fair deal rather than an excessive increase. This data-driven approach helps hiring managers justify potential raises as well.

Payscale, LinkedIn, ZipRecruiter and other sites offer free databases that show the salary for various roles in a variety of industries. You can also talk to people in your network and get their perspective on the company, the current salary trends in the market and your talent.

Ultimately, “hiring managers are on your side in salary negotiations,” says Broda. “We want people to be excited to join our company and feel good about the offer they receive. The more information we have in a negotiation, the better we can advocate for you.”

Do you want to earn more money at work? Take CNBC’s new online course How to negotiate a higher salary. Expert instructors will teach you the skills you need to land a bigger paycheck, including how to prepare and build your confidence, what to do and say, and how to create a counter offer. Sign up now and use coupon code EARLYBIRD for an introductory 50% discount through November 26, 2024.

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