7 negotiation tips for Millennials

7 negotiation tips for MillennialsWhen youre just starting out, negotiating may landseem like some far-off point in your career something youll do in your life eventually, like buy a minivan or start watching CBS procedural dramas. After all, you dont have years of experience to use as leverage yet, right? googletag.cmd.push(function() googletag.display(div-gpt-ad-1467144145037-0) ) Wrong I dont know how you feel about sensible family car choices, but negotiating in your work life is definitely something you should do now. Theres no magic rule that you must have a certain amount of experience or a particular level of work gravitas. And in fact, the mora familiar you become with the process now, early in the game, the more potent your negotiation skills will be as you advance in your career.Why you should negotiateWhen employers make a job offer, they usually expect a little haggling these days. The offer may be at the lower end of a sortiment for them, and why not? They have nothing to lose here they have a good candidate on the line. If that person accepts the offer straight away, they got a solid deal at the low end of the range. If that person negotiates up, the company is still likely within the scope of what they expected to pay. But its important to remember that you arent likely to lose much here either as long as you negotiate reasonably and civilly, theyre probably not going to yank the job offer just because you tried to negotiate in the first place. And you do have the potential to make this sweet job offer even sweeter, either with more money or more perks.Negotiation also establishes a couple of things up front, before you even start the job 1) that youre a confident person who knows your worth and 2) that you want to maximize your salary and benefits. The higher your starting salary is, the more youll be able to get when it comes to percentage-based raises and bonuses. Think of it as a professional investment that you can make now.When you should negotiateIt may be tempting to talk about salary in a job interview, in a show of confidenceor even just curiosity to see if this job is going to be worth your while. Resist that urge. (And if the interviewer tries to sneak in their own stealth salary questions, heres how to get around them.) Get past the application, the interview, the second interview, all of itwait until you have a job offer in hand, with a salary attached as a starting point.Alternatively, you can negotiate when you already have a job, but feel ready for a raise or a promotion. Whatever the circumstance, its the same basic process prepare, ask for what you want, and be ready for the back-and-forth.Tips for negotiatingLets look at some tips to help you build your negotiation skills and get ready to bargain with your employer. The more prep work you do now, the more ready youll be when it comes timeyou dont want to waste any time once you have that offer letter.1. Be prepared with an elevator pitch.This is your h eadline, basically. Based on my previous experience managing social media, I was hoping to see a salary of $X. Your elevator pitch in this case summarizes why youre worth the extra salary. I want and I need arent going to get you very far herethe employer isnt concerned with what your preferences are. They want to make sure that you bring value in exchange for the extra salary bump or incentives added to your offer package. The more you emphasize those qualities in the negotiation process, the higher your chances of success.And this is especially important if youre negotiating a raise at your existing job. The question of why is going to be one of the first youll need to tackle. Wanting a raise is all well and good (who doesnt want one), but you need to show that you deserve it too.2. Be specific and realistic.This is where you should have a sense of what youre worth. And I dont mean that in a my mom thinks Im priceless kind of way. I mean it in a this is what people at my level in this field can make kind of way. Once you know what you can reasonably expect, you can come up with specific dollar amounts as a counteroffer. Unrealistic counteroffers, just for the sake of seeing what you can get, are not likely to be met with success. Do your researcha search of similar positions on Glassdoor or Salary.com can often give you a good sense of what the market-level salary is for your new or current job. Use that knowledge to come up with a realistic range for your salary. Its okay to reach a little in your counteroffer, but make sure its within a realistic range.3. Think outside the salary box.You know you can negotiate for more than just salary, right? When you get a job offer, you may also receive information on company policies, benefits, etc. Core benefits like insurance coverage and retirement savings plans may be set in stone, depending on your new companys policies. However, you might be able to negotiate additional vacation or personal days, or work-from-hom e flex time. If the company seems pretty intractable on a salary bump, think about other ways you might be able to negotiate a more appealing package. But again, the key is being realistic. A juniorin employee is not likely to score an extra week of vacation up front, but if you think theres wiggle room on time off, work that into your negotiation.4. Know what your limits are.Part of being realistic about your negotiation means having a dealbreaker in mind as well. Its not defeatist to think about what could make you walk away from the negotiating table. You should decide ahead of time what your minimum is for this job. Maybe its the same salary as you make now. Or maybe you truly dont want the job unless you can get a 2% raise over what youre making now. Whatever the case may be, have that last chance number in mind before you get started. That way, if the negotiating drags on and you dont see the company offering more than the bottom of your range, consider walking away and turnin g down the offer.5. Dont panic.Once youve started negotiating, you may feel a little jumpy, like you overstepped your bounds. That can lead to accepting a counteroffer too quickly, just to get the process over with. If youve done your due diligence and have your range in mind, you know what you can realistically get. If the company indicates that theyre standing firm, then its time to accept (or reject) and move on.6. Keep it civil.A little confident swagger can be good when youre negotiating. You know whats not good? Threatening to take your ball and go home. It may seem like a baller move, but this is not the place to make ultimatums or threats. When youre negotiating salary or a raise, both you and the company are doing it in good faith, with the goal of finding an employment package that works for both parties. If you blatantly threaten to walk away if they dont meet particular demands, then you just may find the job offer rescinded anyway. Or if youre negotiating a raise and th reaten to quit if you dont get your way, you risk doing irreparable damage to your relationship with your boss and company. Always keep the tone civil and friendly, even when youre making bold requests.7. Keep an eye on the clock.This isnt necessarily a speed event, but you dont want this to drag out. You want the job, and the company wants someone in the job as soon as possible. Try not to sit on any offer for more than a day without checking in with the company, or letting them know your decision timeline. When you get an offer, its fine to say, Id like to take a day to consider this offer. Is it okay if I get back to you on Wednesday? Or Im traveling this weekend. Okay if I let you know on Monday? That way, the company knows you havent disappeared, and that youre considering the next move.Negotiating is a process that you want to be familiar with as early in your career as possible. If youre realistic and do your research, theres no reason why you cant be an advocate for your fin ancial interests as a junior employee. Again, theres no magic line where you can start negotiating, so why not now?