Great Advice for Grads 2023

MAINTAIN CONTROL OF THE CONVERSATION Don’t allow emotions or nerves to steer the conversation away from your goal. Remember three key points for your discussion: • Lead with gratitude. Jones began by thanking her employer for many learning opportunities, then pivoted to her excitement about the company’s future and her role in it. • Know when to stop talking. Get comfortable with silence. “Say the amount you want and then stop talking,” Pollak says. Don’t negotiate against yourself by saying that you’d like a $15,000 increase, but you’re willing to settle for $8,000. • Focus on the value for your employer. Don’t phrase your request around reasons why you need a raise or promotion. Be aware of economic impacts to your company and its priorities, and keep the focus on how you’re saving the company money or contributing to its bottom line. BE PREPARED FOR THE RESPONSE If your employer can’t meet your request this time, all isn’t lost. You have promoted your work and carved out the path for the next conversation, according to Garfinkle. You can also consider negotiating for non-monetary benefits. “Maybe it’s a title change, or they’ll pay for an executive coach, or they’ll provide some training, or additional benefits or retirement contributions,” Garfinkle says. “There are other things you can get that might be beneficial for you.” If your employer is willing to offer a pay increase or an alternative, get it in writing. Send a thankful email to your boss summarizing the conversation and alert them that you’ll be following up on the next steps. In the case of a firm “no” or “not right now,” let your boss know that you would greatly appreciate the chance to revisit the conversation in the future. Following up is key with any response. Jones followed up twice in a month, once via email and another time in person. Eventually, she was promoted to marketing director and received $5,000 more than the maximum amount she requested.

The article Smart Ways to Negotiate Your Salary in an Uncertain Economy was written by NerdWallet on February 26, 2021 and originally published by The Associated Press.

MELISSA LAMBARENA is a writer at NerdWallet.


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