One of the best ways to increase your salary significantly is by changing jobs or companies. The stronger negotiation position for getting the big bucks is when they offer you the job, as opposed to after you’ve already accepted it. Here are bank account killing mistakes:
• Never – Let the past predict your future.
Especially if you’ve been on the low end of the salary range for your field, or if you’re changing job types entirely, make sure you don’t underestimate your worth to the new employer. A lot of times if you’ve been with the same employer for a while, you may have been getting by on 3% cost of living increases while others were hired in at the same or higher salaries.
• Never – Go to an interview without doing your homework.
Make sure you do some research to find out the going rate for the position you’re after. You may be pleasantly surprised to find out that you’re in for quite a bump in pay. You also don’t want to ask for a ridiculous amount. If you’re having a hard time getting information, come right out and ask HR what the salary range is for the position.
• Never – Negotiate after you’ve accepted an offer.
Never ever ever do this. If you can help it. The best time to ask for what you want is when the company has indicated that they want you. Set out your ideal situation and see what happens. There’s no need to be afraid – remember, they’ve already expressed interest in you. Asking for a few extra bucks isn’t going to change that. In fact, if your technique is sound, you may gain points to be redeemed down the road.
Once you’ve accepted their terms, that’s it. At that point you’ll have to focus on getting a raise.