Job Hunt Guide: How to Negotiate a Salary
We hope that the New Year will ring in not just great times for your personal life but also your professional life.
And if you are one of the few that has managed to wrangle a job offer, but want to take up the salary offered, up- just a notch, then here are some ideas from the folks over at careermag.com.
Consider the following tips:
Create a Strategy – Set guidelines for yourself on what you deem acceptable. Don’t forget, it is important not to look at salary alone. You should factor in and rate other important attributes such as commute time, career advancement, etc. Have your limits in mind and know what you want, what you expect, and what you will settle for.
Do your Homework – The key to a successful salary negotiation is preparation. Research your market worth to determine what a person with your skills, education and qualifications is earning in your area.
Convince the Interviewer That They Need You – When you begin the negotiation process, position yourself as a “must have” candidate. Be prepared to confidently boast your skills and achievements to demonstrate your value, but at the same time not show desperation that you NEED the job. This will give you more leverage at the negotiation table.
Wait to Talk Numbers – Gauge the employer’s interest in you before you start talking numbers. If the employer is interested, they will reveal the level of compensation they are willing to offer. The salary you received in the past is your bargaining chip, so don’t disclose these numbers too soon. If the interviewer does raise the question of salary before you have received an offer, try to return the question to them by asking what they are expecting to pay someone with your qualifications. If that doesn’t work, give them a range that you are comfortable with based on the research you have already conducted.
Get the Offer In Writing – Don’t start negotiating until you have received an offer in writing. Job offer terms are not always crystal clear, so before you officially accept, examine the job from all angles. Make sure you take into consideration the additional benefits that can add as much as forty percent to your base salary. Don’t feel pressured to immediately respond to an offer.
Practice with Multiple Job Offers – Refine your negotiation skills by practicing your negotiation strategy with companies that extend an offer that you most likely would not consider. You never know, your great negotiation skills may turn a “not so good” offer into a great offer.
Stay Strong and Stay Professional – It is important to remain professional throughout any negotiation process, despite all of the feelings that you may be experiencing. Remain calm, cool, collected and confident.
Broaching the subject of salary is never easy. Ask for too much and you can be seen as money hungry. Ask for too little and you can risk earning less than what you deserve. Knowing how much you are worth is a simple, yet critical step in your job search process.
