When starting a job search, one of the most important things to keep in mind is negotiating your salary. The salary you are offered for a role is rarely the best or final offer. With proper preparation and negotiation tactics, you can often secure a higher salary and better overall compensation package. This article will provide tips on how to successfully negotiate a great salary for your next role.
Research Typical Salaries
The first step is researching typical salaries for the role you are applying for. Sites like Glassdoor, PayScale, and Salary.com provide salary ranges based on job title, industry, location, experience level, and other factors. You want to go into a negotiation with a good sense of the market rate for the role based on your background. This gives you data to back up requests for higher pay.
Consider Your Experience
Assess your specific experience and skills as they relate to the role. For example, if you have more years of experience, higher education, or specialized skills than the typical candidate, you may deserve above average compensation. Make a case for why you are worth more than the norm. Have confidence in discussing your background.
Know Your Number & Your Worth
Determine your ideal salary expectation ahead of time. Consider what salary would make accepting the role worthwhile for you. Research cost of living if relocating. Have a minimum in mind before benefits to decide if an offer meets your needs. The company's first offer is unlikely to match your ideal, but have that number in your mind.
Delay Salary Talk
Try to delay specific salary talk until an offer is made. This allows you to gather data on their interest level first. Ask about expectations for the role, growth opportunities, and culture. If pressed for a number early on, provide a range based on your research rather than a specific figure.
Make a Case
When the initial offer comes in, politely make a case for why you deserve more compensation. Highlight your experience, skills, and enthusiasm for the company. Provide data on competitive salaries. Mention any competing offers without threatening to walk away. Be professional but direct in stating what it would take for you to accept.
Be Flexible
If the company won't budge on salary, negotiate for other benefits like more vacation time, work from home options, professional development funding, or earlier salary review times. Expand the discussion beyond just the base pay. Even small increases to benefits can add up.
Get it in Writing
Once a final offer is reached, get all the details in writing before formally accepting. This should include job title, start date, salary, bonus potential, benefits, and any other negotiated terms. Make sure you are clear on what is being offered before agreeing to the role.
Asking for a higher salary than initially offered takes confidence and preparation. But with the right approach, you can negotiate a great compensation package and start your new role on the best financial footing. Do your homework and remember that everything is open for negotiation.