Even in a down economy, you can negotiate your salary -- whether for a new job, a promotion, or a raise in your current position. The key to a successful negotiation is to be prepared -- and the more you know about yourself and your worth, the better your potential outcome.
Promoter types, such as Donald Trump, are naturally skilled in all types of negotiation. The rest of us can use a few tips that promoters seem to know instinctively:
* Timing is everything. In salary negotiations, the one who mentions money first loses. For a new job, never negotiate salary or other benefits until you have an offer of employment. For new employment, a new position or for a raise, talk about your future contributions to the company before money discussions start.
* Know what you are worth. Many hard-working contributors tend to look to others to praise and reward them for their worth and may not do the homework to get real facts. They tend to give their power away to the employer. It is best to research salary ranges before you start the negotiation. Know the average salary for candidates with your education and skills in that type of position, in that type of industry, and in that geographical location. Search the Internet for salary information and also consult professional organizations.
* Know what you can contribute. Analytic people, in particular, love to solve systems problems, but they may get too technical in telling about their ideas so they need to learn to quantify the benefits to their audience. Many customer service people are great in emergencies and need to focus on how they have solved past crises. Operations people cut risks and ensure that operations go smoothly. Catalysts help people work effectively in teams to create a better future. If you can't state what you have done to help the company and what you intend to do, you'll lose in negotiations.
Think in terms of money or time saved, resources preserved, problems solved, and opportunities or new products created. If you can assign value in terms of numbers, you'll enhance your negotiating stance. Learn more about yourself to help communicate your personal value by taking a personality assessment, such as the Keirsey Temperament Sorter-II (free at Keirsey.com).
* Work toward a win/win situation. Focus on mutual goals. Negotiations that are open dialogues rather than adversarial positions get the most for everyone. Avoid commitment words like "always," "must," "never," and "won't consider." If you don't get all you want, don't take it personally or become angry. Before you enter the negotiation, see if you can state the company's side in terms of present conditions. Those who can understand the issues on both sides of the table are the most successful.
* Seek creative alternatives. Often times in negotiations, a person does not achieve everything they would like, especially in the area of salary. What other things might be important to you? A bonus, cell phone or PDA, childcare services, association membership, commuting and parking costs, company car, computer equipment, flexible work schedule, telecommuting, profit sharing and savings plans, etc. Decide what options are the most important to you and put them on the table.
Finally, celebrate. No matter if you got all you wanted, got some of what you wanted, or even didn't get anything you wanted, it is time to celebrate that you participated in a negotiation. Each time you participate, you learn something new. The negotiations concern a strictly economic issue -- not a statement of your personal worth.
Also on Yahoo! HotJobs:
You may earn 30% more than you think
Will a career change work for you?
Key traits to look for in your boss
Find a new job near you
