Truth: if you don’t ask, you won’t get
Last week, I tweeted something that’s been on my mind for a while now:
If you don’t ask, you won’t get.
— Krystal Yee (@krystalatwork) January 25, 2013
It’s something that I really try to practice in my everyday life… sometimes I go after things that are completely outrageous. And sure there are plenty of times where I don’t get what I want. But there are always those times, those unbelievable I-can’t-believe-this-is-happening-to-me moments where I actually do get what I ask for. And it’s because of those moments that I keep asking.
I think this is especially important when it comes to a career. I might be shy in my everyday life, but the workforce is competitive, and if you’re not actively asking for (and going after) what you want, somebody else is bound to get it over you.
Take your salary for example. Did you negotiate your starting wage, or did you just take what was offered to you?
In my experience, you are always worth more than the first offer. Every company expects you to negotiate, and if you don’t ask for more, the company isn’t going to just give it to you. I mean, you wouldn’t take the sticker price when buying a car from a dealership, would you? And if you buy anything off Craigslist, you would always try haggling – because you know they’re asking for more than they would accept. Right? :)
Sure, it’s hard at first – especially for women. I had such anxiety about it when I first entered the work force, and since then I’ve been called everything from greedy and bossy, to confident and assertive. But asking for fair compensation does not make you selfish or bitchy or aggressive. It makes you smart because you’re asking for what you rightfully deserve.
I have never taken a job offer without negotiating first, and I have never been turned down. In most cases, I end up $2,000 to $4,000 ahead. Sometimes I have it written in my contract to get an automatic raise after a certain period of time, or a year-end bonus. A few thousand dollars may not seem like much now, but in the long run, it can add up. Your raises, bonuses, and future earning power are dictated by how you negotiate your starting salary with a company. And that few thousand dollar gap has the possibility of becoming bigger in the future – leaving you farther behind how much you are truly worth.
Of course, when you’re negotiating your salary you have to have solid reasons why you think you deserve more. So try to evaluate your skill set and years of experience compared to other people in your field. Then try to formulate a salary range for your job. You don’t need an exact number, just a rough estimate. Check out websites like Glass Door and Payscale to help you get started. I also like looking at job postings on LinkedIn or Eluta, as well as asking friends and family to find out what other companies are willing to pay for a similar position.
The worse thing that can happen is they say no
And so what? If they say no, and you are comfortable with the salary being offered then go ahead and take it. But before you do, perhaps you can try to negotiate an automatic raise after a certain period of time, or more vacation time in lieu of a raise. I’ve only successfully negotiated more vacation time once in my career, and it was because they said no to my salary pitch. But now that I look back on it, that one extra week of vacation was worth way more to me than a few extra thousand dollars a year. so I was extremely happy.
Nobody works for free, and the reason that most of us have a job is to generate an income. You deserve to be fairly compensated. But if you don’t ask for it, you likely won’t get it.
Thoughts? What has your experience been negotiating your salary?
Author: Krystal Yee
I’m a personal finance blogger and marketing professional based in Vancouver. I’m a former Toronto Star (Moneyville) columnist, author of The Beginner’s Guide to Saving and Investing, and co-founder of the Canadian Personal Finance Conference. When I’m not working, you can usually find me running, climbing, playing field hockey, or plotting my next adventure.