When it comes to knowing how to negotiate your salary, it may sound like you’re trying to tiptoe through a minefield but there is, in fact, a right way to do it and several experts have provided methods on how to do so.
In this article, we’re bringing you exactly that: the psychology of how to negotiate your salary and, in a way, how to ask for a higher starting salary and we’re going to do that with the help of one man – Smith-Wenkle.
How To Negotiate Your Salary
4 Simple Steps
The Smith-Wenkle Method
Noel Smith-Wenkle was a professional jobhunter in the 80’s. It was his job to best negotiate a salary for his clients when they would start a new job because the larger the number, the higher his commission. So, he developed his own method and one of the key points of this method was first and foremost to never tell your employer how much you’d be willing to receive. The company talks, and you reply.
The method itself had four simple steps:
- If there is a number asked by the company on its form, don’t write anything.
- When the company verbally asks how much you’ll take, you should say you’re much more interested in the position itself than what you’ll potentially be making. Smith-Wenkle confirmed this worked around 40% of the time.
- The company might naturally ask again, but you won’t answer, instead telling them that you’re fine with any reasonable offer. It’s a great way to turn the conversation back on them and Smith-Wenkle confirms it works 30% of the time.
- With all this said, you might arrive at this step where the company will again ask you again, to which you’ll respond that they’re much better suited to make that determination.
Now, naturally if the offer suits you, don’t push it and accept it, but if it doesn’t (provided you’re being reasonable) call them out on it without specifying how low it is.
It does sound more frightening than it looks but remember that you’re not the only party being judged, it goes both ways, so act confident and talk even more so.
Using this method is the best tool you can have on how to negotiate your salary and, if you’re just now looking for a job, as we’ve said above it also applies on how to ask for a higher starting salary.
Thanks for the read and good luck!