Salary Negotiation Tips
May 30, 2008
I need salary negotiation tips for a new job I’m applying for. Would you please help me out with some pointers? - Keith in Austin, TX
Salary negotiation usually makes one choke up and cringe when even pondering the thought. However, it is in your best favor to possess the skills necessary to be in the position to win. Something to keep in mind is that the people who are able to negotiate compensation with a potential employer appear as a much stronger candidate for the simple fact that they bring it up and can hold their own.
Below I’ve listed some basics that will direct you on how to make yourself stand head and shoulders above the rest.
Learn about your target company’s salary range and the benefits they offer with the specific industry that they are in. This will give you a baseline to reference from. A common mistake that many “job virgins” find themselves in the middle of is that they end up dropping hints about the salary they want very early on in the interview. This is a no-no and on top that, many people will out right say something to the effect of “Oh… this so and so number is what I am looking for.”
This is understandable due to a person’s concern that the job might not be able to pay them what they require but at the same time, early in the interview process, its best to keep quiet and listen to the over all message that the potential employer is providing about how much they can provide in compensation. However, if they prod you for a number than use your ammo from doing research in that industry to give yourself some leverage.
Now here’s where having salary negotiation skills really come into play. When you’ve determined that its time to began discussing money, be the one to strike first with throwing out a salary range before your prospective employer does. This will leverage the salary range you are seeking in your favor. But on the opposite hand, if the person you are interviewing with readily takes into consideration the number you gave… and makes you an offer based on that number, don’t commit too quickly.
Communicate to them that you will take the offer into consideration and will provide a direct response within a short timeframe. This is a delicate balancing act here and you want to make yourself appear like you are not easily swayed by their offer, even if it is within or above the salary you’re looking for.
Another highly valuable salary negotiation tip is that you need to be upfront with what you expect from the employer in terms of pay but also the very real potential for career advancement. A couple of other things to think about are flexibility in your work schedule due to family along with continuing your education. To be fair though you need to make the company well aware of the value you can provide with your skill set and previous work history and how that can make them stronger as an organization.
Keith, using these simple steps will put you far ahead of the majority of job seekers out there and will serve as a sword and shield during the interview process. Having the right negotiating skills when it comes to getting the salary and benefits you want proves that you are not going to settle for second best and shows your level of confidence to go after what you truly want.
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