Tips for Negotiating Salary
Negotiating your salary is probably the most uncomfortable part of the job hiring process. Although to you, it is perhaps the most important. Let’s face it, we all want to feel valued and be paid for what we are worth. Here are a few tips to help you get through this awkward process. Remember, many employers appreciate and expect there to be some negotiation – especially if it is for a sales position.
First, consider your previous experience and capabilities. Then, figure out where you fall in the respective compensation range. Next, fully understand the responsibilities for the position you are considering. Now, do some research to find out what other companies are paying for similar positions in the industry in your geographic area. The internet is full of great tools for researching comparable job postings and salary calculators to guide you. Take plenty of notes and be ready to use your resources as examples during the conversation.
Select a salary you are comfortable with and that you are confident is fair market value for your services. Remind your prospective employer of your strengths and abilities (past experience and accomplishments) to perform the job successfully. Explain why you feel your time is worth your requested rate.
Ask about retirement programs (i.e.: 401K matching), auto allowance, vacation time, fitness memberships, healthcare and other benefits that the company may include in your compensation package.
Consider, in advance, what types of benefits you are willing to compromise on and what you consider a deal-breaker. Be mindful of that fact that just because you left a company where you were getting 5 weeks of vacation does not automatically qualify you to receive the same at your new company. Their policy may be that everyone starts with 2 or 3 weeks.
Allow the employer to make the first offer. This will help you better understand their starting point. Then, let them know what salary you feel best represents your capabilities. Once you have countered, be patient in letting them consider your request. This may be uncomfortable, but keep in mind that the negotiation may involve others in the company and therefore may require a little extra time for everyone’s approval.
Allow some flexibility with your figures (state your initial bid higher than what you are willing to take) and then be prepared to agree on a lower figure that suits both parties. However, do not settle on any amount lower than what you are comfortable taking. It can be helpful to role play this conversation with a trusted companion to approach the actual meeting with more confidence.
Throughout the negotiation process, remain positive and remind them how excited you are about representing their company. Remaining poised and professional will show them how well you cope under pressure and how lucky they would be to have you on board!
If you need more assistance or specific tips on how to negotiate a reasonable salary, contact our team at Accent Professional Recruiting at (804) 359-9416 and we will be happy to assist you!