I asked a question yesterday from my email subscribers.
Here was the scenario. After being frustratedwith your work or even jobless, you applied hurriedly to a new job and to your surprise you were asked to come for an interview.
You passed the 2 rigorous interviews and was offered the job.
To your amazement, they then informed you of your new salary and it is double what you currently earn. The hiring manager then asked if you will accept/
Will you still negotiate or will you just accept it?
Responses came in and I want to share a few of them with you.
Also, notice the game that is being played here, beyond just the salary numbers.
Out of everyone who responded to my email, 54% said they’ll negotiate while 46% said they’ll just take it.
Exact responses included words like
In desperation, yes I’ll take it. – Tolu
I’ll definitely grab the offer! It’s a dream come through considering where I’m coming from. – Tinu
I’ll take it. The company must have its own pay structure in place. – Kelvin
On the other side there were responses like
Coincidentally, I’m going through this “job frustration thing”.
Concerning the “double offer” of a new job, nothing can take the place of NEGOTIATION. Even if you’re offered a million dollars per week, you still must let them know that you can contribute to the coy’s growth when asked your opinion. This case, your opinion is “negotiating your pay”.
Wrap-up, you don’t accept the offer, you still shoot “reasonably” higher, even if they already have your statements of pay from your previous employer. – John
I will surely ask question about the salary components (The basic, housing, Transport etc).The issue of other applicable bonuses and allowances will also be raised. Failure to negotiate well or ask questions then, is affecting me in my present employment. – Niyi
From the responses, it is easy to see that people who will take the offer are talking hypothetically and already wishing they could get a free offer of doubled salary.
On the other hand, people who say they’ll negotiate have either been through it or are going through it now. In retrospect, they felt they could have negotiated better.
When you ‘just’ accept what you are given, your sense of worth is diminished. Do this too many times in your career, and you’ll always be underpaid.
When you negotiate on the other hand, a N50,000 increase could be worth millions of Naira over your working life. Plus your sense of worth increases dramatically if you could convince a hiring manager that you are worth more than they are offering.
Here’s one more response that teaches a great technique – “Negotiation isn’t just about the salary component”
God bless you and your inspiring write ups. I have enjoyed every piece I have been able to read from you.
In response to your question, for example I earn N5m per annum and the new job pay grade starts from N10m. I won’t discuss about the salary, instead my negotiation will be around bonus / incentive for meeting the KPI. I am confident to achieve the KPI which is what I’m bringing to the table and that’s what stands me out from other candidates. – Gbenga
How do you truly negotiate effectively?
Here are a few points to help you.
· Know what you want – If you walk into a salary negotiation without a number, you’re at the mercy of an experienced hiring manager who will simply control the conversation.
· Have a box of options to trade with – Amateurs walk into a negotiation and just “wing it.” Top negotiators have a box of options to use. From more vacation days, to work from home to salary increase or Club membership payments.
· Practice, Practice, Practice – You won’t become a better negotiator by reading. You have to truly practice by negotiating with someone. Start small, get a friend to practice with, negotiate your next purchase. Learn the ropes before you put your job on the line.
Can you really double your salary in less than 2 weeks?
Yes you can
Bold claim I know.
But it’s possible.
Someone I know just did it last week in this current economy and today, I’ll show you how you can do it too.
Just before we get into how to double your salary, there’s something I believe we should clarify.
It’s the simple concept of:
“The market pays for value”.
If you are looking to double your salary and have nothing of value to give in exchange, its time you wake up to reality. Stick around and let me help you change your perception that will guarantee progress in your career and business.
But if you know you have skills, offer a lot of value to your employers and are good at what you do but somehow you just don’t receive what you are truly worth in salary, then this email is for you. You will learn how o double your salary.
Although “The market pays for value” the real truth is “The market pays for EFFECTIVE COMMUNICATION OF VALUE”.
For many experienced professionals (mid-level managers and up), it is almost a given that you know what you are doing, you have experience and the skills required to do the job.
So why do hiring managers not see it (or pretend like they don’t see it?)
It’s actually a bit of both.
They may know you are good, but they also need you to communicate it effectively.
Light bulb moment!
If you can communicate your value effectively, you can double your salary as soon as next week because frankly, I am not asking you to do a new course or pay thousands of dollars for a new training or certification.
Just communicate a bit better.
There are 2 methods you can use to do this.
1. Owned Assets to double your salary –
These are assets that you own and have control over. These assets are critical to effectively communicate your value to a prospective employer because they assume that you mean everything you have included (or not included) on the asset.
a. Owned Asset 1 – Your CV and Cover Letter – Whether you like it or not, about 90% of what an employer knows about you will be from your CV. If you are feeling underpaid, your CV is not doing a good job of representing you. Update your CV and ensure you are not making this 5 mind-boggling mistakes we all make on our CVs. Do this and you can easily double your salary.
b. Owned Asset 2 – Social Media Profiles – This includes professional ones like LinkedIn and more social ones like Facebook, Twitter, Instagram etc. How would you feel if you see your colleague (who is really good at what he does and well respected at work) take out his shirt in traffic arguing with another driver. Same way, you shouldn’t think LinkedIn is professional and you can go haywire on other channels. An employer will check them all to get a 360 degree profile of you. carefully updated and well thought through posts on Social Media can help you double your salary.
2. Earned Assets to double your salary –
These are assets you’ve earned in the course of your professional career. These could be achievements at work, features in news media, projects you’ve worked on that you can reference and other endorsements from 3rd parties to validate your value. You should be curating these assets to help you make your case and communicate your value effectively. Why you an employer hire you and double your salary? Because you have also achieved A, B, C, D, E, F.
This is the moment of truth!
How good are your Owned (e.g CV) and Earned (e.g achievements) assets?
Have you been paying attention to them? and how do you plan to make a change starting from today?
Be sincere and talk to me about it. It’s time to be brutally honest. Leave a comment below.