If you are entering into a salary negotiation, congratulations! It looks like your job search is over. But just because you’ve secured an offer doesn’t mean the hard work is over. The salary negotiation process can be long, confusing, contentious, and especially consequential if you accept a disappointing offer. Make sure you get what’s fair while staying in good standing with your new employer by following these strategies.
Do Research in Advance
It’s fairly easy these days to figure out what similar professionals in the same part of the country earn, and then factor in cost of living differences. Determine what the average level of compensation is before the first negotiation so you know if the offer is high, low, or about normal. Use sites like Salary.com to find the average wage for your industry.
Highlight Your Value
Clearly you are qualified for the position. But what kind of extra value can you bring to the table, and how will that affect the company’s bottom line? You can make the case that you deserve more because you can offer more, but you need to back it up with concrete statements.
Focus on Professional Matters
You might be eager to make more because you have unpaid medical bills or a kid heading off to college, but it is never appropriate to bring up your personal finances during a salary negotiation. Stick to the level and volume of work you will accomplish when justifying an increased salary.
Value Your Time
It’s common for companies to counter a salary offer by offering more pay for more work. Ask yourself if you have the time and drive to take on the extra work, and make sure that the additional pay is fair compensation for what’s being required of you.
Consider the Total Package
It’s important to look at health benefits, vacation time, tuition reimbursement, and other perks in addition to salary when calculating the value of an offer. And if the company holds firm on salary, you can negotiate other variables to improve the offer.
You might be tempted to throw out a wildly inflated figure and then expect to negotiate it down, but this only makes you look unprofessional and unrealistic in the eyes of your new employer. Shoot instead for the mid-to-high range of the average salary.
No matter how the negotiations go, it’s important to remain cordial, civil, and perfectly professional throughout. If you reveal yourself to be petty or greedy, the employer has every right to withdraw their job offer.
The team at The Concorde Group is here to help you find the right job opportunity, get in front of the hiring manager, ace the interview, and coast through the salary negotiation. If you’re ready to improve your job search in Fairfield CT, contact us today.