5 salary negotiation tips revealed
Talking about salary can be tricky. If you ask for more than the employer has budgeted, you might not be considered for the job. If you ask for too little, you might not be paid as much as you could have – or as much you are worth. Learning how to negotiate salary is important for your long-term financial success, not only since you will end up making more than you were initially offered, but also because your next salary offer typically depends on your last salary. Here are a few tips for negotiating the best salary for your next job:
1. Know Your Worth
Before you ever begin conversations about salary, you need to have done your research. Browse job postings or use sites such as salary.com and payscale.com to find average salaries for the same position. Be sure that you are accounting for variables such as company size, years of experience, and geographic location. If your position is unique, consider salaries for jobs that are similar. Understanding the typical salary range for a job will put you in a better position to ask for more money if the offer comes in low.
2. Don’t Mention Numbers First
Even if a job positing asks for it, do not put your salary expectations in your resume or cover letter. Always let a potential employer know that salary is negotiable and indicate that you would prefer to discuss the position first to see if you and the company are a good fit. You should convey these same sentiments if you are asked about salary expectations during an interview. Respond with statements like “I’m sure if I am offered the position that we can come to an agreement about salary” or “I would prefer to come to an agreement about the position before we discuss salary.” Don’t reveal your salary history if you don’t have to. Wait until you have a job offer to discuss salary, then wait for the employer to make the first offer. If you propose a salary first, you risk alienating your employer with a number that is too high, or underselling yourself it the number is too low.
3. Wait to Accept the Offer
Once you are offered the position and a salary is suggested, wait a moment before responding. Either remain silent in contemplation or give a simple “hmmm…” Chances are that the employer will raise the offer or suggest room for negotiation. This gives you the opportunity to push for a higher salary. If the employer does not respond after your initial reaction, you can express the desire to negotiate by saying “That’s not quite what I expected” and then make your argument for a higher salary by discussing market rates and your experience and skills.
4. Go for Perks
Salary is not the only part of your compensation package. If you try to negotiate for a higher salary but are unsuccessful, try instead to negotiate for other forms of compensation. You may be able to get additional vacation time, a signing bonus, commissions, or even the opportunity to work from home. You can also agree to accept a lower salary but negotiate a shorter review term with the possibility of a raise after you’ve shown how your skills make a contribution to the company.
5. Be Willing to Accept Less
Sometimes, no matter how well you negotiate, you just won’t be able to command a higher salary. It may be a smaller company, profits may be down, or you may just not have enough experience yet. If you are offered your dream job or given the chance to work at a dream company, it may be worth it to accept less, knowing that you can negotiate a raise when you receive your performance review. Sometimes, you may also have to accept an entry level position in order to get your foot in the door at a company and work your way up to the job – and the salary – that you really want. Consider your long-term goals when you are determining whether the salary you are offered will be worth it to you.
Negotiating salary is a skill that must be learned through practice. Learning to master this skill will ensure that you are receiving the salary that you deserve.
About the Author:
Bridget Sandorford is a grant researcher and writer for CulinarySchools.org. Along with her passion for whipping up recipes that incorporate “superfoods”, she recently finished research on types of chef and culinary schools in new england.