You interviewed for a position about a week ago and they finally called you back. You missed the call while you were applying to other positions online, and now you have to call them back. When you do, they offer you the position! Obviously you want to accept, but before you do, you need to negotiate your salary.
This means considering your self-worth, which includes many different factors - how long you’ve been in the field, how much experience you have (related or unrelated), the requirements of the position offered, your level of expertise, and many more. Your potential employer has a salary they’d like you to come in at, and you have a ballpark range of what you’re worth. The trick is to show them the value of your skill set, and then negotiate to find a middle ground between the two sides. So before giving your potential employer your final decision, be sure to try these helpful tips to negotiate your salary like a pro!
It should go without saying that you should always be fully aware and prepared when you enter the job market. Do some preliminary research on your prospective employer and their salary range. A good place to start is Glassdoor, which is a website that provides the median salary for various positions, as well as geographical salary ranges. Remember that the average isn’t always what you’ll make, but it is a good window to shoot for.
When businesses or companies post positions online, they often provide just a small window of salary range. Research similar job positions at other places (again, Glassdoor is very helpful for this) to see what they pay for the same job. This will not only give you a fair market value for the position, but it could also be a bargaining chip when it comes time to negotiate your salary. Just be careful not to sound like you’re blackmailing or threatening the company, as this would most likely lead to them taking back their offer.
Knowing your prospective company’s background and salary details is good, but knowing the details about its benefit packages can also be extremely helpful, as it can help to swing things in your favor. Make sure you know all about the various 401k and healthcare plans prior to engaging in salary negotiations. Often times, a lower salary is acceptable if the benefits make up for it in the long run, as company investment in a 401k can add to your overall long-term earnings.
To do this, you have to get yourself in a sort of “I could take it or leave it” mindset. Have both positive AND negative characteristics about the job in mind, so that you’re not desperate to take the offer, even if you know they’re not offering you enough. It may help to have other potential employers lined-up, so you can use this in your favor during negotiation. While the employer can sometimes only do so much in terms of salary, in some cases, they may be able to offer more vacation time, covered expenses, increases in your overtime pay, and the like. It’s hard to be confident enough to put yourself in a position of power, so consider yourself lucky if you can manage it. Just remember not to come off as greedy or arrogant!
Negotiating your salary can be a simple exchange, or it can be a rather drawn out process. Either way, it’s definitely a process, and one with many tips and tricks for both sides. Do your research and be professional about it. Clear communication goes a long way towards that final handshake and deposit in your bank account. No negotiation process is perfect and you may not get 100% of what you are asking for, but anything is something!