Although salary negotiation is an expected part of the hiring process, job seekers can be hesitant to ask for more money to seal the deal. Here are some tips and resources for salary negotiation.
First a few myth busters:
1. You will not lose a job offer if you negotiate for more money. The employer will either counter-offer with a smaller increase, or deny your request and ask if you are interested in accepting the job anyway.
2. Similarly, you cannot get fired for asking for more money. If you’ve been earning the same salary for the last few years in spite of excellent work performance and achievements, you are entitled to a raise. If you have taken on more responsibility or more work hours without an increase in pay, you deserve a salary increase.
Determine what you are worth. There are several websites to determine salaries according to occupation, job title and geographic location. These include Payscale.com, Salary.com, and Glassdoor.com. You can also talk with other colleagues in the field.
Do your homework. Review the employer’s benefits package to see if they offer other perks and compensation. Sometimes these can be even more valuable than the pay increase you are seeking. Some employers compensate for lower salaries by offering benefits like tuition reimbursement, child care subsidies, flex/work-from-home options, and generous vacation time.
Prepare your case. Document your experience, skills, qualifications, and education that set you apart. Show how valuable your contributions to the company have been (or will be). You also can provide a brief overview of your salary history, illustrating a progressive increase in pay and responsibilities over time.
Make your ask. Provide the employer with a salary range, or an increase amount, that is 10-15% above your ideal amount – but still is a reasonable figure. Explain your reason for deserving more money. Be prepared for the employer to counter-offer, ideally settling on your ideal number.
However, you must also be prepared for the employer to say “no.” If that happens, you can still negotiate for better or increased benefits. Or, you can take the job offer anyway, and request a salary review at your 6-month anniversary. With current employers, you can ask to revisit the conversation in a few months, when the agency’s budget is being planned.
…Or, you can keep looking for a new job. The bottom line is, you always have options, as long as you plan ahead.
Looking for more advice about salary negotiation? Contact Blooming Careers at elysecareersuccess@gmail.com or 617-461-9516.
Excellent advice!