Negotiation is an essential aspect of career development. We often think of negotiation as an action taken in order to position ourselves for optimal career growth; however, negotiation is and of itself a practice of career growth.
We learn much when we negotiate--about ourselves and those with whom we are in conversation.
THE PRINCIPLES OF NEGOTIATION
1. The first person to give a number always loses; yet sometimes you will have to share yours so there are specific ways to navigate this with integrity and courage. More on this below.
2. Employers expect you to negotiate, particularly in the hiring process. If you don't negotiate, you're leaving approximately $500,000 on the table throughout the course of your full career.
3. The current average employee raise in the United States is 3-5%. The cost of living can increase annually at roughly the same rate based on your geographic location alone. Therefore, negotiation during your sign-on experience is a crucial step in beginning a new role with greater financial ease from your prior position.
4. It is highly rare for an offer to be rescinded based upon a negotiation. At most, negotiation is not possible due to the organization's financial structure and where your position lands within it. However, negotiation will open this door of dialogue and the possibility of a sign-on bonus to be offered instead.