Advice & News

November 26, 2024

5 Essentials of Salary Negotiation From Compensation Professionals


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Whether you're considering a new job offer, advocating for a raise, or pitching your next promotion, negotiating can be scary, but hiding under the covers can have a serious compounding effect on your wallet and career trajectory.

Only 30% of candidates reportedly negotiate initial offers, but roughly 66% of those that do receive a better starting salary. Similarly, 70% of employees asking for a raise in their current role see at least a partial increase, though it's important to note that these numbers vary significantly based upon race and gender.

Emboldened with these success rates, and considering that higher ed salary increases have surpassed inflation for the first time since 2020, let's look at how you can successfully advocate for your raise or promotion.

1. Consider the Context

Experts agree that research is essential to good negotiations, but Jennifer Cossel, classifications & compensation consultant at Oregon State University, highlights a critical mistake in failing to anchor your research within relevant details. "Data without context can lead to false assumptions," shared Cossel. "Consider the context of the data you are providing and the credibility of your sources."

Government resources offered by the Bureau of Labor Statistics, research & reports available through organizations like CUPA-HR, and community-sourced records like Glassdoor and Payscale can all be helpful to uncover relevant salary ranges for specific roles, but these numbers are influenced by many important factors. Institution type, size, endowment, pay scales/salary structures, & geography are all contributing employer factors, while candidate factors include experience, education, unique qualifications, and scarcity of skillset.

"It's a common misconception that employers want to know your personal reasons for negotiating more salary," added Grace Lowry, associate vice president of human resources for Goucher College. "Employers base compensation on market data and the experience you bring to the table. Approach negotiations from a data-driven angle and you'll see more favorable outcomes."

Lowry also highlighted the importance of understanding all nonmonetary benefits like "what you will pay bi-weekly/monthly for medical insurance, what their retirement match is (and if there is a waiting period or vesting period), ask them about average merit and/or Cost-of-Living Adjustment increases, tuition benefits, paid time off, incentive plans, and other important benefits to you that also hold monetary value. This will help you understand the total compensation that the position is offered and can often make or break your decision."

2. Set the Stage

Situational awareness is key in approaching negotiations. "Start laying the groundwork from day one," said Cossel. "(Know) who the decision makers are, the timing of when decisions are made, the proper channels for communicating your interest, and any pressures your leaders might be facing."

  • Consider Timing: Don't schedule the meeting the day after the budget cut announcement. The transitionary period between fiscal years or end-of-year performance evaluations work best.
  • Know your range: Your ideal goal, your precise asking number, and your bottom line.
  • Document your accomplishments: Track tangibles, and frame them within contributions to the goals and priorities of the institution.
  • Know your audience: Are you pitching to your boss or to HR? (Your supervisor can be a powerful ally in advocating for or even helping to review your proposal to help identify key contributions and provide feedback).

Hattie Anderson-Hynes, compensation consultant for Indiana University Bloomington added, "It is essential to adopt the perspective of your manager, considering how the promotion would benefit them and the university."

"Your direct supervisor would have to be a major advocate on your behalf," agreed Janice Karluk, benefits, compensation, & employee relations manager for Georgian Court University.

3. Prepare the Proposal

Though new offer negotiations may often be via a few calls or email exchanges, effective salary negotiations for raises & promotions often include both a face-to-face pitch and a detailed written proposal. "The value of a well-crafted business case is often underestimated, shared Anderson-Hynes. "In large universities, where numerous checks and balances exist, a compelling business case is crucial for streamlining the process of requesting, advocating for, and approving promotions. An articulated document that presents a robust argument for why an individual should be or has been performing at a higher level significantly eases this process for managers and HR professionals."

You don't need to start this proposal from scratch, as there are many negotiation script templates and request letter guides to help sculpt your masterpiece.

4. Practice the Pitch

When you share your presentation with the decision makers, it should not sound like you are still trying to convince yourself or figure out the details. Run through your pitch a few times with colleagues, friends, and mentors to work out the kinks, tighten up your flow, and get some perspective about how your approach could be received. Gaining more perspective from extra ears can help you to walk the border between confident and arrogant and potentially diffuse some of the intrinsic tension built into every negotiation. This practice can also help you to prepare for tougher questions and have a solid response to challenging questions about your rationale.

5. Take Your Shot

You have done all the research, you know your worth, and you have practiced with others to gain perspective -- now it's time to go for it! Don't forget to bring your written proposal or a handout that you can leave with your audience. Take your time to make your case with your head held high, highlight your accomplishments and qualifications, and make the details of your request clear, and then take pride in your self-advocacy.

Disclaimer: HigherEdJobs encourages free discourse and expression of issues while striving for accurate presentation to our audience. A guest opinion serves as an avenue to address and explore important topics, for authors to impart their expertise to our higher education audience and to challenge readers to consider points of view that could be outside of their comfort zone. The viewpoints, beliefs, or opinions expressed in the above piece are those of the author(s) and don't imply endorsement by HigherEdJobs.

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