Sаlаrу negotiation іѕ an important раrt оf any ѕuссеѕѕful job ѕеаrсh. Negotiating your salary can be scary, especially if you’re doing it for the first time. You may be afraid that it will make you seem desperate or like you’re not a team player. However, negotiation is a standard and expected business practice.
Remember, the goal isn’t to win, but to come to a mutual agreement with your future employer.
If you’re fresh out of college, or are entering your profession for the first time, then you’ve probably never negotiated a salary. You probably just accepted the one put in front of you. Little did you know, almost no salary or benefits package is set in stone.
Here are some tips to help you to effectively negotiate a salary:
1. Do your research
An important part of salary negotiation is knowing how much you want to make. If you go into negotiations and you’re not sure of your bottom line, you’re severely undervaluing yourself. Do research into average salaries for the position you’re applying for.
Your desired salary should be in line with the market rate for the position, the position’s responsibilities, and what you can bring to the table. If you can either a) save the company time, b) save the company money, or c) make the company money, you deserve to be fairly compensated.
2. Know the right time to start talking about salary and benefits
Yоu dоn’t want tо sound tоо еаgеr tо tаlk аbоut salary or benefits. The best tіmе tо ѕtаrt talking аbоut ѕаlаrу іѕ whеn you knоw еxасtlу whаt the job requires аnd when bоth уоu and your future еmрlоуеr knоw thаt уоu are thе rіght fіt fоr thе job.
3. Ask for 10% more than your desired salary
Don’t be afraid to ask for a little more than the price that you really want to be paid. This way, at worst, you can work your way down to your desired salary. As long as your offer is reasonable, many companies will consider it and often give it to you. The absolute worst thing that can happen is that they say no.
4. Counter their offer
Counter the first offer that you’re given. A good way to do this is with a statement of along the lines of, “Thank you for the offer of $x. However, with my qualifications and the value that I can add to [your company], I would like to come in at the range of $X to $Y.” This is a good way to show the company that you know your worth and that you aren’t desperate for a job.
5. Consider benefits other than salary
You may not always be able to get an employer to budge on a dollar amount. In this case, it’s ok to ask for benefits packages in place of cash. Compensation packages often include perks such as health insurance, retirement packages, vacation time, or devices such as a laptop or company phone. You may not have as much cash in your pocket, but vacation time or saving money on a monthly phone bill can go a long way.
So, do you feel like you’re ready to get out there and negotiate your salary?