How to Negotiate Pay
Research the position you are applying for., Know what you're worth., Find out how the company is doing financially., Know your limits and shoot a little high., During the interview, if asked, let it be clear that salary is negotiable to you., If...
Step-by-Step Guide
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Step 1: Research the position you are applying for.
Craft your resume and interview to highlight the skills you have that the employer needs.
Making an employer realize you are the perfect candidate for the job is the first step. , Start researching the most recent salary data for the job position, location and experience.
You can find this information online at websites like Vault, PayScale, and Glassdoor.
Search for comparable positions in your area, with your level of experience.
To get a feel for what you are worth at a regional level, you can access employment surveys from a local library, or look at numbers from the Bureau of Labor Statistics.
You can also get firsthand accounts from contacts you have in professional organizations or peers who work in the same field.
Don't ask them directly how much they make — that's may be perceived as rude — but instead ask something along the lines of "What do you think someone in your line of work would make, on average?"
Public companies must disclose their financial standings, so you can easily look up this information.
Access news about the company through newspaper archives.
Know that companies that are doing relatively well will probably be in a better position to negotiate than companies that aren't doing very well.
Use this information to your advantage. , You should have an idea of a salary range that would fit your needs.
Craft a rate that you'd ideally want to get and then think about the absolute minimum you'd be willing to take.
To give you a little bit of wiggle room, you're going to be asking for slightly more than your ideal rate to start off the negotiation , Don't discuss a specific salary until you are formally offered the job. , Not giving them a firm number will make them guess about how much they think you're worth; often, this will produce a higher starting salary than if you provided them with a hard number straight off the bat.
If they ask you how much you made, say something like: "My compensation was competitive in the market and in line with my skills, performance history, and experience.
I trust it will be too in your organization."
If the salary your potential employer started off with is lower than expected, reach for your ideal salary plus a little extra to create room for compromise.
You'll most likely lower your rate during negotiation, so be prepared to step down a little bit from your initial offer.
Say something like: "I appreciate the offer of $38,500, but I believe that my skills, performance history, and competitive drive merit something more along the lines of $45,000.
Is it possible to look at a salary of $45,000 for this position?"
The person you're negotiating with may stick with her original offer.
If they do, politely reiterate what you think you're worth: "I really think that $45,000 is a more reasonable figure, given the job responsibilities and my proven track record." The person negotiating will either continue to toe the line at the original offer, or will come back with a compromise, somewhere between your high offer and her low offer.
At this point, you have two options:
Don't budge until you get exactly the salary you want.
Reiterate what you think you're worth.
This is dangerous: if your potential employers cannot afford you, you may lose the position.
Accept the compromise number.
Since what you asked for was a little high, this number should be around what you'd ideally want.
That's a great thing; you've successfully negotiated your salary. , Think about other perks that may be just as beneficial as money like a mileage allowance, a company vehicle, extra vacation days or stock options. , Failure to get the offer in writing may result in some selective amnesia.
Make sure you review the document carefully before signing off.
You can always re-negotiate if you see any glaring errors. -
Step 2: Know what you're worth.
-
Step 3: Find out how the company is doing financially.
-
Step 4: Know your limits and shoot a little high.
-
Step 5: During the interview
-
Step 6: if asked
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Step 7: let it be clear that salary is negotiable to you.
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Step 8: If your potential employer asks you how much you made during your previous job
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Step 9: do not give them a firm number.
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Step 10: Once you land the job and have been offered a salary
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Step 11: give your initial offer.
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Step 12: Wait for the counteroffer.
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Step 13: If salary negotiations stall
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Step 14: get creative.
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Step 15: Once you reach a deal with your new employer
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Step 16: get it in writing.
Detailed Guide
Craft your resume and interview to highlight the skills you have that the employer needs.
Making an employer realize you are the perfect candidate for the job is the first step. , Start researching the most recent salary data for the job position, location and experience.
You can find this information online at websites like Vault, PayScale, and Glassdoor.
Search for comparable positions in your area, with your level of experience.
To get a feel for what you are worth at a regional level, you can access employment surveys from a local library, or look at numbers from the Bureau of Labor Statistics.
You can also get firsthand accounts from contacts you have in professional organizations or peers who work in the same field.
Don't ask them directly how much they make — that's may be perceived as rude — but instead ask something along the lines of "What do you think someone in your line of work would make, on average?"
Public companies must disclose their financial standings, so you can easily look up this information.
Access news about the company through newspaper archives.
Know that companies that are doing relatively well will probably be in a better position to negotiate than companies that aren't doing very well.
Use this information to your advantage. , You should have an idea of a salary range that would fit your needs.
Craft a rate that you'd ideally want to get and then think about the absolute minimum you'd be willing to take.
To give you a little bit of wiggle room, you're going to be asking for slightly more than your ideal rate to start off the negotiation , Don't discuss a specific salary until you are formally offered the job. , Not giving them a firm number will make them guess about how much they think you're worth; often, this will produce a higher starting salary than if you provided them with a hard number straight off the bat.
If they ask you how much you made, say something like: "My compensation was competitive in the market and in line with my skills, performance history, and experience.
I trust it will be too in your organization."
If the salary your potential employer started off with is lower than expected, reach for your ideal salary plus a little extra to create room for compromise.
You'll most likely lower your rate during negotiation, so be prepared to step down a little bit from your initial offer.
Say something like: "I appreciate the offer of $38,500, but I believe that my skills, performance history, and competitive drive merit something more along the lines of $45,000.
Is it possible to look at a salary of $45,000 for this position?"
The person you're negotiating with may stick with her original offer.
If they do, politely reiterate what you think you're worth: "I really think that $45,000 is a more reasonable figure, given the job responsibilities and my proven track record." The person negotiating will either continue to toe the line at the original offer, or will come back with a compromise, somewhere between your high offer and her low offer.
At this point, you have two options:
Don't budge until you get exactly the salary you want.
Reiterate what you think you're worth.
This is dangerous: if your potential employers cannot afford you, you may lose the position.
Accept the compromise number.
Since what you asked for was a little high, this number should be around what you'd ideally want.
That's a great thing; you've successfully negotiated your salary. , Think about other perks that may be just as beneficial as money like a mileage allowance, a company vehicle, extra vacation days or stock options. , Failure to get the offer in writing may result in some selective amnesia.
Make sure you review the document carefully before signing off.
You can always re-negotiate if you see any glaring errors.
About the Author
Jose Thomas
Experienced content creator specializing in hobbies guides and tutorials.
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