|Salary negotiation mistakes are pretty common.
Nearly half of workers admit to making a salary negotiation mistake, according to data from talent and consulting firm Robert Half. One of the top-cited regrets was placing too much emphasis on pay versus the entire compensation package.
“Think about what really has monetary value to you,” Scott Dobroski, a vice president at Indeed, told me. “Believe it or not, if you’re going in the office — or maybe you’re a salesperson — this could be dry cleaning or laundry services.”
He added that “compensation” is the key term since it’s more all-encompassing.
Beyond base salary, bonuses, and stock options, anything important to you is on the table in negotiations: gym memberships, professional development funds, ergonomic chairs, and even healthcare benefits.
Looking at what benefits competitors offer their employees is another way to prepare for a negotiation. Doing as much research as possible makes your position stronger, while data presents your argument as fact instead of fiction.
“Knowledge is negotiation,” Jenna Alexander, the co-creator and leader of Randstad’s global Talent Centre of Excellence team, told me.
She added: “Whenever it comes to negotiating your future, you’re at risk of potentially being emotional about it — it’s a natural state of mind. But if you’ve got your facts behind you, you’ve got a steel rod for a backbone.”