At Executive Agents, when advising on remuneration negotiations for our clients we are continually blown-away by how much people undervalue their worth. Here are some of the most common oversights people make.
- People don’t research the salaries of their industry.
- People think they will keep their boss happy by taking whatever is offered to them.
- People don’t talk to their peers.
- People make unreasonable requests. A good rule of thumb is request no more than 10% higher than initially offered. Speak to your Executive Agent for strategies on how to get raises up to 100% higher than this.
- Maintain open and continuous communication.
- Be flexible and accommodative.
- Maintain healthy rapport with the salary counterparty.
- No negotiations via email. Everything should be done in a conversation.
- Don’t be attached to the outcome. It’s all business at the end of the day. Be playful.
- Think holistically. Think about your entire package. Leave, entitlements, fringe benefits. All these things can be brought to the table.
- Don’t wear out the counterparty. This can include both your manager and HR.