Generally people don’t like to discuss money matters, however during the hiring process the topic of compensation will come up. Before I begin, there are some careers where a salary is negotiate and there are jobs whose compensation offer is take it or leave. The discussion of how much money you will be offered for a position at the company can cause some anxiety between the job candidate and the hiring manager.
This post will show you 7 ways to make the salary negotiating process easier.
1. Do your research: Before they call you for an interview, I’d suggest contacting organizations in your field or career. Tell them that you would like to obtain salary information. With that data you can compare to the cash requirements you have relative to your lifestyle. Be sure to take into account that there are going to be monthly deduction for taxes.
2. What is your current skill set? Depending on what his going on with different aspects of the economy the need for various skills will be at play. So you will want to know what you are worth to employers based on current market conditions, thus you should know what the maximum that you will be able to negotiate for.
To obtain information on salaries, take a moment to reference the:
- American Almanac of Jobs and Salaries
- The Career Center
- The National Association of College and Employers
- As well as any professionals that work in your career field.
The company that has offered you a position is going to ask what your salary range is. Try not to say what your desired amount of compensation amount is. They will most likely ask for your previous salary history. Normally you could extend that range to roughly $6,000. This way it will keep you within the company’s payroll budget while showing you are interested in increased compensation.
3. Take a look at the compensation packet or offer of employment letter. Then decide what your fair market value is for the type of job you will be performing. Also take into consideration industry factors, economy and location of the job offer. Additionally take a look at what benefits are being offered to be certain the salary is a good offer. Benefits to be reviewed should be health/life insurance, promotions, time off/vacation allowance and retirement.
4) Let them know you are good at what you do. If you are very qualified for the position and you know it should pay more, don’t say it out right. Try to sell yourself and demonstrate your higher value.
5. Stay positive during this process. Try not to compete in negotiations. Keep in mind that negotiation is basically a process which could benefit both parties. Understand your needs and those of the hiring company.
6. Settling up on the offer. When the negations are done, remember that they are in fact done. Don’t push further when you have agreed on something because this could be the first negative impression of you.
7. Let them know how good you are. The interview is only the first step in having an enhanced compensation. After you get the job and start working and they see that you are showing quality work, this could put you in a position down the road for promotions.