Why Failing to Negotiate Your Salary Is a Big Mistake

Why Failing to Negotiate Your Salary Is a Big MistakeWhy Failing to Negotiate Your Salary Is a Big Mistake1If youve just scored a new job, theres a lot to be happy about. The interview process can be grueling, and once that offer letter comes to your inbox you can finally breathe a sigh of relief. Afteryouve done a little victory dance, though, put your best professional face back on- its negotiation time.Most people are uncomfortable with the idea of negotiating their salary. Unless you negotiate for a living, these skills can get a bit rusty. The truth is that there are a number of reasons why its best for your career to do so, and its notlage just about making more money in the here and now.Here are some of the biggest reasons why failing to negotiate your salary at the departure of a new job is a mistakeYoure setting yourself up for less money down the road.Yes of course making more money right now would be great, but consider the fact that if you dont negotiate for your salary a t the beginning of a new gig, youre setting your future self up to make less money as well. Every future raise will be based on that base salary, and likely new jobs outside of your current company will, too, since many ask for current salary as a starting point for offers.Not convinced? Consider this Salary.com survey, whichfound that women who fail to negotiate their salaries at the start of their careers could be leaving up to $2 million on the table.Youre losing out on additional retirement savings, and possibly matches.Failing to negotiate your salary may have consequences on your retirement savings, as well. If youre lucky enough to work for an employer that offers a 401(k), the higher your salary, the more money youll save when you contribute 3-5 percent of your salary. If your company matches up to a certain percent, youll get a bigger piece of the pie with a larger 401(k) contribution.You could lose a little face.The next time you feel awkward over salary negotiations, reme mber that employers expect to have a bit of back and forthwith new hires over benefits and compensation. In fact, research from Salary.com found that 73percent of employers agreed they are not offended when people negotiate, 84percent said they always expect job applicants to negotiate during the interview stage, and 87percent said theyve never taken back an offer following negotiations.Youll start your job holding a grudge.Your new employer undoubtedly hired you for a myriad of reasons, many of which probably have nothing to do with how much youre worthbut you should know how much youre worth. Starting a new job on the wrong foot, even if its just an inner problem you have with yourself over not negotiating, is never a good idea.If you at least attempted to negotiate, youll be showing your employer that you know your own value, and you arent afraid to go after it.You could be putting your relationship with coworkers in jeopardy.Most people would rather talk about any topic other th an how much money they make, but if you work with the saatkorn people for long enough, the topic may come up. Imagine how you would feel learning that your coworkers in the same position make significantly more than you do? Imagine how they would feel?Of course arming yourself with as much salary information as possible is super important going into a negotiation (here are the median salaries for 20 career fields to help with that), but once the damage is done and your salary is set, finding out people make more than you for doing the same work is only bound to make everyone uncomfortable.Finally convinced that negotiating for your salary is good move? Great Now here are some tips to help you get the package you deserve, as well as advice on how to negotiate your salary when you have a flexible job.