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Every time the workload builds up and you huff and puff internally on how the company doesn’t pay you enough to care, have you ever wondered – what if they did? Harvard Business Review breaks down salary negotiation techniques that you’re missing out on!

  1. Eyes on the Prize

Promotion focused people – the ones who tend to get their raises right – are those who see goals as opportunities to gain. They expect to end up better off than they are now, they are comfortable with risks and less fearful of what could go wrong. Research showed that those who kept their desired figure in mind most likely were able to accomplish it, as opposed to those who worried too much and ended up being more susceptible to a less advantageous agreement. 

2. Jump Off the Right Cliff

What you think you’re worth and what you project to the person before you matters a lot, even more when you’re negotiating salaries. Columbia’s Adam Galinsky studied 54 MBA students who were divided into pairs. They then simulated the buying of a pharmaceutical plant and were given a ‘bargaining zone’ that signified their willingness to pay. Promotion focused buyers bought the plant for 4 millions dollars less as compared to prevention focused buyers. How? They were more attentive to what they could gain as opposed to what they could lose and so bid aggressively low. 

3. Meet in the Middle

Every negotiation doesn’t have to have a winner and a loser. The point is to come to a conclusion where both parties are benefitting more than they were earlier. This can mean making a compromise, understanding the opposing person’s perspective and demonstrating that you wish to take this forward in a mutually beneficial manner. Studies conducted showed that promotion focused candidates were often the ones who were able to do this well and therefore, achieve the best possible outcome. 

So, how can you become a promotion focused person? Find out for free in ‘Salary Negotiation – Tips and Tricks’, which answers our #QuestionoftheDay on 16th July!

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