Yet most of us are not comfortable negotiating
our salaries even though negotiation has become a common part of today's
business. It is important to feel confident in this part of the hiring process.
The employer expects some type of negotiation, and we must be ready.
Avoid the question of salary, until you have an offer. On job
applications under salary requirements, put "open," "negotiable," or
"competitive." If a salary requirement must be given, then give ranges (usually
begin your range at 10% higher than your last salary). If you are asked directly
how much you would like to make, try to avoid providing a number, but answer in
vague terms:
"I'd rather discuss salary when we are both
confident that I am a good match for the position."
"I believe that my salary should be based on
the specific responsibilities of the position and the standards of the
industry."
"What would a person with my background and
qualifications typically earn in this position with your company?"
"Although money is an important factor, I am
most interested in this opportunity because I think it represents a good match
between your needs and my qualifications."
Research your market value.
Before you go into an interview, make sure you are armed with the most recent
information on the salary ranges for the position that you want.
Do not take an offer on the spot. How
valuable and in demand will you seem if you accept an offer the moment it's
presented? Instead, either take home the written offer or take notes on the
details of the offer. Tell the employer that you would like to go over
everything very carefully, and set up a meeting for the next day. Now that
you have some time to really think, you should examine the organization's entire
compensation package. Be sure to consider these factors:
Insurance: General coverage, medical
insurance, life insurance, accidental death insurance, business travel
insurance...
Tuition and Continuing Education Benefits:
What percentage will be paid?
Salary progression expected in the first 3-5
years.
Vacation days, paid holiday, and
sick/personal days: How many are you allotted, how are they earned, and what
are the requirements for using them?
Negotiate. Once you have considered the
things listed above and they are acceptable, you are ready to negotiate. Enter
the negotiation armed with a firm understanding of your skills and what they are
worth. Know your strengths in your field.
Negotiation is okay and is expected.
If you are going into sales and do not even try to
negotiate, this could be the last test of your interview. If you will not
negotiate your salary, how can you be expected to negotiate multi-million dollar
contracts for the company? Even if you are not applying for a sales position,
employers may be wary of a deal that is made too quickly.
Make sure the negotiation stays win-win.
When a company offers you an exact figure, it is usually safe to expect that the
number is its mid-range. This is not the time to play hardball; you will be
working with these people if you accept the position. Use real-life examples
rather that trumped up negotiation tactics that sound like "ME, ME, ME!" Think
team.
Examine alternatives.
If efforts are exhausted in the salary negotiation, and the company has not
offered a salary acceptable to you, but you still want the job, shift the
conversation to the future.
Discuss a 60-, 90-, or 120-day performance
review and negotiate a potential minimum percentage increase.
Discuss a year-end bonus.
Discuss the opportunity for a lump-sum
signing bonus.
By being well prepared and confident, you will
easily be able to master the art of salary negotiation, you will become more
comfortable doing it, and you will negotiate an acceptable compensation package.
Employers understand your point of view; they were once on the other side of
this process. Remember to be knowledgeable about industry standards, firm in
what is acceptable or unacceptable, and open to other forms of compensation.
You'll end up not only with the position you want, but also with a salary you
deserve.