How to Negotiate your Salary for an Extra $30k

By August 21 3 0

How to Negotiate Salary

I have spent a lot of time on both sides of the job interview table. I’ve seen people accept terrible low ball offers and watched people magically talk the initial offer up by thousands. In this post, I’ll show you how to negotiate your salary with one of the most effective techniques I have seen. It’s called the “Sack o’ Cash Salary Negotiation Technique”. It worked for me and it can work for you. Do you want a bigger salary? Check out the winning formula below.

The Conventional Wisdom of Salary Negotiation

A lot has been written on how to negotiate your salary. The problem is these ideas rarely work and people accept low salaries and then just end up bitter and angry about it 18 months later. The initial salary offer represents one of your best chances of driving your salary sky high so it’s important that you take full advantage of any strategy you can to get where you want to be. Some strategies encourage you to wait for them to throw an initial number and then give you a few phrases to nudge it a little higher. While this can work you are still largely giving them all of the control.

The Sack o’ Cash Salary Negotiation Technique

Sack o’ Cash

As the name suggests the aim of this technique is for you to talk away from this discussion feeling like you are holding a burlap sack with a dollar on it. It’s time you had a real plan to negotiate your salary. It’s important that you feel like you because this starts to form your attitude for your entire duration at that company. The Sack o’ Cash method has three simple steps that you can execute easily if you have them in mind. Let’s take a look at them

  • Preparation (you need to know the typical salary ranges that people in your position are getting paid.
  • Ask for a bold salary.
  • Being Agreeable in Acceptance.

Preparation

You should know what the salary range is for the position you are applying for. There are many ways to do this. One easy way is to look at Glassdoor. This is far from a perfect science but if can you find the exact job you are applying for and see what people are actually getting paid and you’ll have an upper hand negotiating.

The next way to research salary is to find someone in the company and ask them. You might already know somebody who works there. Maybe they got you the interview in the first place. You might also be able to find someone on social media who would be willing to chat with you. Lastly, don’t overlook YouTube. There are all kinds of people on there talking about salary.

Time to get Bold!

fortune favors the bold

This is where the rubber meets the road. This is also where you get your sack of cash. People make a huge mistake here and use their current salary as the benchmark for what they should get paid at their new job. They are happy if the can get maybe $10k more, but you can do much better. Ask for an enormous salary! It’s likely they will have a giggle but at this stage you have them coming down from their top number rather than getting some ineffectual bump from your current number.

In a real salary negotiation, they took me out to a nice steak house and told me I was looking at “the low 60’s”. I told them I would think about it as I ate. Upon returning to their headquarters and having the final meeting with the vice president. I told him I wanted a $100k. He laughed and told me the best he could do is $85k (it’s already working!). I finished by saying there is no sense in taking a lower pay now and spending my first year looking for higher pay with one of your competitors. He came up to $91k. That’s a huge difference. It felt amazing.

Be Agreeable

Don’t let your emotions take control

Don’t let the negotiation get contentious. If they seem angry then they are probably not the most pleasant people to work for and it’s better off that you find this out now. Don’t forget that if they are talking about money with you they are pretty serious about you working there. It’s all in your favor. Use that favor to your advantage and at least ask for that bigger salary. The worst answer you’ll likely here is no. There is more than a fair chance that they will respect you for negotiation tactics. Most people implicity know if you are satisfied with your pay you are a whole lot more likely to work hard and your job and deliver the results they want.

A few points to keep in mind

  • You’ll land on a bigger salary coming down from a big number than coming up from a small number.
  • Research how much you are worth. This will keep upper bound big but no make you look unreasonable.
  • Keep your emotions under control but gauge their emotions too. If their attitude is very negative your experience working there will likely be negative also.

It’s like Buying a Car

The salary negotiation is not unlike buying a car. If you walk into a dealership unprepared you are unlikely to come out with a good deal. Similarly, if you don’t prepare for the salary negotiation don’t be surprised when you end up disappointed at the end.

Final Thoughts

There are a lot of strategies to try and their effectiveness might depend on your own individual ability to implement them. If you are out job hunting there is a good chance you’ll have the chance to do a few interviews within the same month. See what works for you. Practice learning social cues. It’s time well spent. If you can master these softer skills it can make a significant difference on your pay stub.

Do you have a salary negotiation success story? How have you negotiated your salary in the past? Leave it in the comments. Be sure to hit the social share buttons below to share with your followers. You can also follow me on Twitter

3 Comments
  • Alison Wolf
    August 22, 2020

    These are great tips. I will use these for my freelance business.

  • Charity
    August 22, 2020

    These are all such great tips and ideas to get more for your salary. I would love an extra 30K! Thanks for sharing!

  • Lauren
    August 22, 2020

    Great tips! This would be really useful for anyone freelancing too.

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