A salary negotiation can be both a golden opportunity and a major source of anxiety. As a new hire, you don’t want to hold out for too much, or make your employment entirely incumbent on compensation. But at the same time, you want your skills and experience to be appropriately valued by your employer. You also don’t want to let your modesty get in the way of making more. Conducting an effective salary negotiation requires you to walk a fine line. Use the tips to make the process easier on yourself.
Enter Negotiations with a Number in Your Mind
Before you begin the negotiation process, you should do some research to help you determine what a fair salary would be for the position you’ve been offered. There are a number of online tools that can help you determine what similar professionals make yearly or hourly. However, be sure to account for your education, experience, and unique skills when deciding on a final number. You might be underselling yourself if you assume the job you are doing is identical to everyone else with the same title.
Don’t Accept Outright
Even if the company offers you more than you had hoped for, resist the urge to jump at the offer immediately. Thank them for their offer, express your strong interest in the position, and ask if you could have an additional 24 hours to think things over. That gives you a chance to consider your options rationally and come up with questions you need clarified while holding onto some of your bargaining chips.
Consider Your Options
Once an offer is on the table, consider all the factors at play. Does this position align with your long-term career goals? Is the benefits package what you need to support your lifestyle? Is the job description clear, and do you know exactly what will be expected of you once you start the job? It can help to make a pros and cons list and to talk the decision over with someone you trust.
Negotiate Modestly and Rationally
If you decide to hold out for more, make sure that you maintain a professional demeanor, avoid hostility, and make reasonable requests for more. Keep in mind, too, that asking for more money is not your only option. You can also request more vacation time, tuition reimbursement, flexible scheduling, or stock options.
Always Get Your Agreement in Writing
Once you have agreed on the final terms, always get an agreement in writing before you begin the job. The hiring manager might tell you that this is not their normal practice, but it is a minor burden on their part, and a major source of insurance on your part.
How Can The Squires Group Assist You?
If you are looking for a job and hoping to be in a position where you can negotiate for a higher salary rely on resources from the recruiting experts at The Squires Group. For assistance with your job search, contact our team of experienced recruiters.