September 21, 2018

How to Negotiate Your Salary

Negotiating your salary, whether during the hiring process or while asking for a raise later, can be very stress-inducing. Many people do not do it, which leads to many workers not getting paid as much as they should. Even fewer people negotiate during their first job offer, which is perhaps when it’s most critical to do so. It is important to negotiate your salary, and what follows is a guide for how to do it effectively.

Don’t Bring It Up Right Away

It is often best not to talk money early in the interview process. While it should be discussed before you accept a job offer, bringing it up too early can make you come across as entitled. Many companies will include salary information in the job ad, which is helpful because you’ll know immediately whether the amount they’re offering is suitable. Always try and get the company to give you a number first, and then you can respond with a counteroffer.

Be Realistic

It is important that your counteroffer is within a realistic and understandable range. For example, you do not want to ask for a salary that is substantially over the offered amount or is well outside the average for that position in your area. This is why it’s important to do research ahead of time and come up with a reasonable number you think the company will agree to. A “no” is harder to justify in response to a realistic number, and you want to give them no excuses to decline your offer.

Explain Why

When negotiating your salary, you will need to be ready to explain why you deserve to be paid more than the company is offering and why it is beneficial to them. Your reasoning should be researched, well-presented and well thought out. You must take into consideration the market and the individual company, as well as your own needs. Always stress that you truly want to work for this company. If they are impressed enough by your skills, experience and passion, they will be more likely to seriously consider paying you more.

Don’t Just Focus On Salary

Whether or not the company accepts your counteroffer, you should consider negotiating other benefits as well. For example, some companies are small and simply cannot afford to pay larger salaries. However, they may be able to make it up to you with more generous benefits that will be to your liking, such as the ability to work from home or have more vacation days. It will be up to you to decide if the trade-off is worth it. If you have specific needs, such as an already-planned vacation, now is the time to bring that up and negotiate to get those days off.

Salary negotiation can be intimidating, but it’s something that’s to your benefit to do. Realize that this negotiation is an important and normal part of your career advancement. Following the tips discussed above will help increase your chances of a successful negotiation.

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