Brian Tracy breaks down salary negotiation tactics: research market rates first, use the 24-hour rule to buy time on offers, and counter with 110-130% of what they propose. If they offer $2,000, ask for $2,200-$2,600. He also recommends getting written conditions for future raises built into lower initial offers.
Questions this video answers
Ask for 24 hours to think about any job offer (the "24-hour rule").
Approximately 20% above and 20% below the average amount for the position.
Suggest a figure between 110% and 130% of the offered amount (bracketing).
Propose $2,200 to $2,600 per month; employer may settle near $2,400 (midpoint).
Chapters
What you do during the process of salary negotiation can have a major impact on your income, your lifestyle, and your future. If you follow these instructions carefully, I'm confident it will have a positive impact on your ability to achieve the best and highest possible income for yourself. First, you should have a good idea of how much you want to earn as a salary for this position. You should have done your research and spoken to other people. You should know what the salary range is for a position of this kind, the one you're applying for, you should never go in blind, having no idea of how much money to ask for. Now, whatever is offered to you, never accept either the job or the salary the very first time it comes up. Always ask for time to think it over. Even if you want the job very badly. Use the 24 hour rule. Always ask for 24 hours to think about a job offer before you accept it. The more you ask for time to think it over, the better the job and job benefits you are going to get when you make the final decision. Now, when an employer offers you a salary, he or she usually has a salary range in mind. The salary range is usually 20% above and 20% below the average amount paid for that position. For example, if a position pays roughly $2,000 per month, the employer will be thinking in the range of 1,620% below to 2,420% above per month. Now, the employer will make every effort to hire you at the lowest possible amount that you will accept. Your job, on the other hand, is to aim for the very highest amount that the employer prepared to pay. Your goal is to ask for an amount at the top of the salary range in the employer's mind. And here's how you do it. When an employer offers you a salary of $2,000, for example, you should suggest a figure that is between 110% and 130% of that amount. This is called bracketing. If the suggested figure is $2,000, you should say that you feel that excellent performance in this position would be worth between $2,200 and $2,600. You raise the limits of the bracket in the employer's mind and in the conversation. Surprisingly enough, the employer will often settle for an amount that is midway between the two figures that you propose. In this example, an amount of $2,400. This is the upper end of his or her salary range and is usually more than he or she planned to pay, but he or she will often give it to you if you ask for it in this way, in some cases, you'll have to settle for a lower salary than you wanted to start. When this happens, you immediately ask what you will have to do to get an increase in salary. Be specific and ask the employer to put it in writing in his or her letter of acceptance to you. Thank you for viewing this video on how to negotiate your salary. If you enjoyed watching this video, please press like below and subscribe to my channel by clicking on the link that appears on this screen.
