It might be a jobseeker’s market but employers are looking for specific skills for the position. You have the qualifications and have impressed the hiring manager and now comes the do or die moment – how to negotiate salary for the job offer? If you want the job, you don’t want to ruin it by quoting too low or aiming too high. Go for a win, with these ways to negotiate salary tips that Resumemantra has picked up from our clients.
- Hone your negotiating skills
Every company has a salary range that they use to negotiate with you. This includes not only the salary but also the benefits that come with it. The starting salary you negotiate will have a far-reaching effect. A higher start, even by $2000 will have a snowball effect, impacting the base salary for your future raises.
Most of us feel awkward about talking about money, particularly in such situations. It is easier to haggle over price when buying a car because the stakes are not so high and you can always find another seller. A job is very different. Recruiters list this as top among their negotiating salary tips – do your homework. When you are well prepared, it is easier to negotiate.
2. Do your homework before the interview
When the job listing indicates a salary, then you know what to expect but many jobs do not advertise a salary. Many states in America do not allow employers to ask about salary history. Other countries do not have this restriction. Whichever category you fall into, one thing is clear, you cannot walk into a job interview without first researching what you should be expecting if offered the position. The general rule of thumb is that you can ask for 10 -20% more than you are getting now. However, if you feel that you are underpaid in your last job, you might need to know the market standards.
Remember that the recruiter has much more experience in negotiating on salaries so be armed with the information you can use in the negotiations. The best way how to negotiate salary is to know what is the market standard for the position by industry and location. There are many online resources that can help you with this such as Glassdoor, LinkedIn, Indeed.com and Payscale.com. Use more than one resource to even out your expectation.
Negotiate salary tip #1: Salary negotiations include all aspects such as bonuses, stock options, benefits, perks and sometimes even flexi-hours.
3. Never give the first number
Another good tactic is never be the one to give the first number or a range as the employer can take the lower mark. Once you put a number on the table, you can put yourself in a spot that you can’t get out of. While you have done your homework and know what you want for the job, wait for the company to put a number on the table.
If you are asked the question, here is how you keep it open when it comes to how to negotiate salary for a job offer. One way to avoid giving a number is to say that you will consider the benefits package as a whole and are open to a reasonable offer. This puts the ball back in the other court. However, if the employer still wants to hear specific numbers, keep the flexibility open. Reply with based on my previous salary and my experience, I expect a salary of X. I would like to know the benefits that come along with it but I’m open to discussing a fair salary based on your company standards
4. Take sometime to consider the offer
Sometimes, you might be informed by email that you have been selected and an offer is made in the letter. Don’t just accept it blindly as there is always a wiggle rule for negotiations. If it is an across the table negotiation, always ask for some time to consider the offer – it can even be just a day. You might be happy with what is offered but if you accept it at once, the company might think that they have offered you too much. The time you have asked for can be used to consider the benefits that come with the offer.
Negotiate salary tip #2: Sometimes the benefits can make the salary more attractive than another job you might be considering. Also evaluate the non-financial benefits. Always consider your take-home pay.
Finally, how to negotiate salary when you are considering a job offer is all about finding what will work for you. A good company with good opportunities to further your career may make you decide on being flexible on the salary. Reduction on commuting time, more opportunities to travel globally, whatever be it, sometimes a job is more than the salary that comes with it.