Salary Negotiations Are Up. Here's How to Pull Off Yours Successfully

A woman asking a man questions in a job interview in a casual office setting.

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These tips could land you a higher wage -- and more financial freedom.

Key points

  • A recent Jobvite survey shows salary negotiations are up across the board.
  • Here are some tips for negotiating salary and coming away a winner.

Last year, it seemed like companies were shedding jobs left and right. This year, it seems like companies can't hire quickly enough.

Not surprisingly, that's led to an uptick in salary negotiations, reports Jobvite. In fact, 73% of the recruiters Jobvite recently surveyed say they've seen an increase in negotiating higher salaries among both job applicants and existing employees. And 56% of recruiters say average salaries in the industries they service have increased this year.

If you're looking to negotiate a higher salary, today's labor market is pretty conducive to it. Here's how to pull it off.

When you're applying for a new job

As a job applicant, the last thing you want to do is come off as greedy. At the same time, you shouldn't sell yourself short. If you're offered a salary you're not happy with for a job you'd otherwise like, you shouldn't hesitate to ask for more money.

But there should be a basis for that request, and to that end, it'll help to do some research. Dig up data online to see what average salaries for the position you're applying for look like in your geographic area. Sites like Glassdoor are good resources in this regard. If you're offered a salary of $60,000, but you can point to data showing the average salary for your role is $65,000, that makes a case for more money.

When you're looking to earn more at your current job

Approaching a salary negotiation is a little different when it's for a job you already have. While you should absolutely go in armed with research to support a higher wage, you can also employ other tactics.

For one thing, if you offer unique value to your company, that alone could make a case for higher pay. So to that end, don't hesitate to talk up the fact that you possess certain skills your colleagues don't or that you've bailed your team out of a mess on more than one occasion.

You can also speak to your dedication on the job. If you're the person who commonly answers emails after hours and logs on during weekends to address emergencies, that's something to highlight. Bringing that up might remind your company that losing you would be a bad thing -- and that paying you more money to prevent that from happening makes sense.

Finally, in today's economic environment, you can also point to the fact that inflation is making just about everything cost more, and in the absence of a decent raise, you (and your fellow colleagues, for that matter) might really struggle to keep up. While it's normally not advisable to bring up personal financial matters in the course of salary talks, inflation has been so rampant lately that mentioning it may be reasonable.

What could a higher salary do for you?

Whether you're looking to accept a job offer or earn more in your current role, a higher salary could improve your life in many ways. Not only might it help you manage your bills more easily, but it might also allow you to boost your savings, pay off debt, and work toward other goals.

Don't be afraid to negotiate salary if you feel your potential or current employer could do better. Given the hiring struggles so many industries are facing, you may be pleasantly surprised at how amenable companies are to talking money and upping their offers.

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