5 Tips on How to Negotiate a Salary

To negotiate a salary can be both the most profitable and the most humiliating thing an employee or job seeker can do. If correct knowledge about how negotiations work, an employee can achieve marvelous results. If taken lightly, the negotiation will often end up in frustration and humiliation. Thus, the route of knowledge should definitely be chosen by anyone seriously wanting to negotiate for a high salary. Here are five important tips for the salary negotiator:  

Tips # 1 – always aim for a win-win scenario The basic principle of all negotiations – not only salary negotiations – is that the negotiations will end up in a co-operation between the parties only if the benefits for both of entering into an agreement exceed the costs for doing so. Thus, the salary negotiator must always aim for a win-win scenario when negotiating the salary.  

Tips # 2 – focus on the interests of the employer In order to achieve the sought for win-win situation, the employee or job seeker must focus hard on the employer’s interests and really understand them. The job which salary is negotiated fits in somewhere in the employer’s plans. The employee or job seeker must understand those plans in order to be able to present himself/herself as the solution to them or an important contribution to their achievement.  

Tips # 3 – prepare carefully before negotiating the salary Research shows that the key factor explaining the difference between successful and less successful negotiators is the extent to which preparations are made. There are several important steps to take, among them to find the range within which the salary can be negotiated and to brain storm for arguments that the employee/job seeker should have a salary in the higher end of this range.  

Tips # 4 – adopt a winning attitude To succeed with anything, a winning attitude is of great importance. This applies to athletes and salary negotiators equally. One way to adopt a winning attitude is to write down an ambitious target for the salary negotiation, the reaching of which is thereafter visualized by the employee or job seeker days before the negotiation.  

Tips # 5 – make sure the timing is right The employee or job seeker must wait and try to avoid discussing actual salary figures until the right moment. The employer must “be on the hook” first, being really interested in the employee/job seeker and his/her job there. Only then shall s/he name his price.

The Warning Signs of a Debt Negotiation Rip-Off

A debt negotiation program is not the same thing as a debt management plan or credit counseling. Debt negotiation is a very risky endeavor that can end up having a dramatically negative effect on your credit score and your ability to obtain loans in the future. In fact, because of this many states have laws to protect you from debt negotiation companies.

Debt Negotiation Program Claims

Many firms that handle debt negotiations will claim that they are not in it for any profit. You may also be told that they can negotiate with your credit card companies to lower the amount you have to pay off. Most often, they will tell you that they are the only alternative to bankruptcy. They might even say that their program will have no negative effects on your credit score and, if it does, you can simply have the negative items removed from your report at the completion of the program. Normally they will say that you should stop paying the creditors and send your money to them instead. Something else they often will tell you that they will set up a special account for your money and that they will pay your creditors for you.

The Truth of the Matter

Just because a debt negotiation firm says that they are for nonprofit, that does not mean that the services they offer are offering to you are legitimate. On top of that, they cannot tell you for sure whether your creditors will accept a partial payment on the amount owed. In truth, if you stop making payments, chances are late fees and interest rates are going to keep adding up.

Once these late fees have added up to the point where you have exceeded your credit limit, over-limit fees and penalties will accumulate. This means that your old debt could easily become two or three times the amount that you originally owed. On top of all of this, the supposed nonprofit companies charge outrageous fees and they have a fee for everything. In truth, your creditors are not required to negotiate with you at all. What they are required to do is report accurate information, including the fact that you missed payments, to credit reporting agencies.

In some of these situations, it is not unusual for the creditor to sue you for their money. They can end up having the ability to put a lien on your house and to automatically garnish your wages. On top of this, the IRS may end up coming after you.

Tip-Offs That the Company Might Be a Rip-Off

Here are some simple signs that a debt negotiation agency might not be legitimate:

  • If they tell you they can remove unsecured debt
  • If they tell you they do not have to pay the entire amount back
  • If they have extremely high monthly fees
  • If they tell you not to talk to your creditors or make any more payments to them
  • If they tell you have to send your monthly payments of them and not directly to your creditors
  • If they tell you that your creditors will not sue you for not paying them
  • If they tell you their system has no negative outcomes on your credit report
  • If they tell you that they can have negative information on your credit report completely removed

If you begin working with a debt negotiation company and they give you any of these signs, stop working with them immediately. Go to your Better Business Bureau, State Attorney General, or your consumer protection agency and check up on the company.

Secrets to Better Sales Presentations

Quote of the Day, “Speak properly, and in as few words as you can, but always plainly; for the end of speech is not ostentation, but to be understood.” – William Penn

Presentation skills are one of the most imperative items for sales professionals. There are numerous opportunities in a day for sales people to present information articulately or sound incompetent. Because of the lack of sales training, selling professionals are calling prospective clients unprepared, avoiding useful questions and sounding naïve. The lack of proper presentation skills can possibly be what is affecting your performance, not the recession!

Vocabulary “Judge a book by its cover” is the cliché many sales people need to avoid. From the moment a sales professional arrives for an appointment prospective clients are judging. Speak and it gets even worse. Many selling professionals lack proper vocabulary to have an articulate conversation with sales leaders. They use too many words. Further, “street talk” might not always be appropriate.

I remember when I first entered the speaking business; many individuals stated they had a “gig” as if they were a nightclub act. Speaking is a professional business where there is a “presentation”, “workshop” or “keynote” based on client need. Refrain from street talk when speaking to clients and speak with language that exemplifies your professionalism I recall when I first moved to the state of Missouri, I met individuals that used the phrase, “Allasudden” as a melody. It took me months to determine what was said. Wouldn’t the word “suddenly” be a better substitute? Selling professionals are judged by how they articulate. Drop the numerous words, William Penn was correct. Use a thesaurus to find and express yourself intelligently good language never hurt anyone.

Preparation Arrive unprepared and the best decision would have been remaining in bed. On a recent radio interview with friend and colleague Patricia Fripp, she mentioned a sales manager replying to a proposal and spending inordinate amounts of money on a million dollar sale. When she asked the sales manager about rehearsing the presentation, the manager stated the team would lucky to practice in the car prior to the appointment.

I recall a very good book I use for acting entitled “Audition” by Michael Shurtleff that can assist selling professionals with presentation and preparation. Shurtleff talks of guideposts such as “The Moment Before” which helps selling professionals prepare to anticipate the selling scene. Selling professionals that are unprepared are always playing defense and losing sales.

Dress Code Anther vital element of the unprepared sales representative is dress code. In the late 1990′s Wall Street and subsequently Main Street adopted the ludicrous rule of casual days. Business suits, dresses, wingtips and pumps were castaways to polo shirts and khakis. What would your reaction be if your physician showed up for surgery in a running suit and sneakers or your attorney meeting you with blue jeans and T-shirt? Sales professionals must represent the organization and themselves. Sounding professional is one half of the equation, look the part the other. Clients judge from the outside. Look the part by dressing the part.

Selling is a profession and is not impromptu. Proper planning is a major portion of the sales process. Rather then spend time attempting to make more calls, or being negative about consumer buying patterns perhaps it is best to look in the mirror. Self-reflection and assessment is always a useful. After all, you cannot close business if there is no one to present to.

There are 7 techniques you can use daily to assist you preparation efforts. Get the 7 Secrets to Sales Preparation by emailing me today. Ask about our Free 30 Minutes “Sales Acceleration Coaching Clinic” to help you gain immediate sales result!

©2009. Drew J. Stevens Ph. D. All rights reserved.