{"id":235316,"date":"2018-01-22T05:00:27","date_gmt":"2018-01-22T13:00:27","guid":{"rendered":"http:\/\/getrichslowly.org\/?p=235316"},"modified":"2023-05-22T20:31:44","modified_gmt":"2023-05-23T02:31:44","slug":"salary-negotiation","status":"publish","type":"post","link":"https:\/\/www.getrichslowly.org\/salary-negotiation\/","title":{"rendered":"How to negotiate your salary (and earn an extra half-million dollars in your lifetime)"},"content":{"rendered":"

Some folks claim that if you do what you love, the money will follow. Others say that a job is just a job \u2014 you’re not meant to like it. The truth lies somewhere between these two extremes. There are few things worse than a job you hate<\/a>; and many people enjoy fun, fulfilling careers while earning a good living.<\/p>\n

Whatever the case, any job is more bearable if you’re paid well. Plus, a high wage means more money to pursue your goals and dreams. One of the best ways to increase your income is at the source: during salary negotiations when you land a job.<\/p>\n

<\/span>Why You Should Negotiate Your Salary<\/span><\/h2>\n

\"Negotiating<\/a>For many people, salary negotiations are awkward or scary. But in his book Negotiating Your Salary: How to Make $1000 a Minute<\/em><\/a>, career coach Jack Chapman argues that those few minutes during which you ask for more money in an interview can make a difference of tens of thousands of dollars over your lifetime. Maybe even hundreds of thousands. He says you can literally earn $1,000 per minute if you do this right.<\/p>\n

Research backs him up. According to a 2010 study conducted by George Mason University and Temple University, failing to negotiate on an initial job offer could mean missing out on over $600,000<\/em> in salary during a typical career.<\/p>\n

“We spend years thinking about what we’ll be when we grow up,” Chapman writes. “But when it’s time for a raise, most of us just accept whatever we’re offered. How many minutes do we spend negotiating the money? Zero.”<\/p>\n

Only about half of all applicants negotiate their salary; don’t be one of these folks. If you don’t ask for more money, your employer certainly won’t just give it to you.<\/p>\n

Before we look specifically at negotiating salary, let’s review the basics of negotiation in general.<\/p>\n

<\/span>You Can Negotiate Anything<\/span><\/h2>\n

In his book You Can Negotiate Anything<\/em><\/a>, Herb Cohen writes that there are three crucial variables in every negotiation:<\/p>\n