10 Salary Negotiation Myths

Posted August 31, 2012 by
Jim Hopkinson

Jim Hopkinson, Salary.com contributing writer

A rough translation of a myth could be “a legendary story, usually concerning a hero or event, especially one that is concerned with deities or some practice, rite, or phenomenon of nature.”

Many people play up salary negotiation as some kind of mythical exploit, as if a Cyclops from human resources was guarding a 10 percent salary increase. Perhaps only few select heroes can effectively navigate this rite of passage and pierce the heavily guarded castle.

In reality, as author Selena Rezvani puts it, a negotiation can simply be “a conversation that ends in agreement.” So before you retreat back over the drawbridge, let’s take a look at the other definition of a myth — a falsehood — and see if we can come out victorious.

Myth #10: You Should Be Scared to Negotiate

Quite the opposite. You should be excited to negotiate. If someone is extending an offer to you, that means your skills are in demand. Unlike simply getting a raise at your current position, where you might bring in an extra 5 percent, negotiating a new job offer is one of the greatest opportunities in your career to significantly increase your salary.

Myth #9: I Don’t Have the Necessary Information to Negotiate

The good news is, when it comes to statistical salary data, there are some great resources out there, including salary.com. Before the Internet? Unless your dad worked for the Bureau of Labor Statistics, good luck tracking down comparative salaries.

The bad news is, while there are certainly websites, blog posts, and videos talking about negotiation, it can be difficult to find an example that fits your particular situation. It seems that resumes and interviewing are always the hot topics. Go ahead and Google the following terms: interview tips, resume tips, salary negotiation tips, and look at the disparity in the number of search results. There are still a lot of people in the dark on this subject.

Myth #8: Everyone Else Always Negotiates Salary

Stats vary, but a 2011 Salary.com survey found 18 percent of people never negotiate or make a counter-offer when taking a new position. Many more leave thousands on the table because they weren’t prepared. Just the fact that you are reading this and looking for more information probably puts you ahead of most of your co-workers.  Continue reading . . .

Article by and courtesy of Salary.com

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