Negotiating Salary
Brought
to you by
ResumeEdge—the
premier resume writing and editing service on the Web.
The prospect of negotiating salary and other terms of employment surges through
some like adrenaline, but like an imminent fainting spell through others. If
you tend not to get the results you want from salary negotiation or the mere
prospect of negotiating salary makes you squirm, consider these guidelines for
more effective negotiation.
Know Your Worth
You can bet that the interviewer negotiating salary on behalf of the company
knows your worth. When you begin salary negotiation, you should also know your
worth.
Using Internet salary surveys, conduct
research on the salary ranges for comparable jobs in the area. If you're relocating,
also check sources that account
for differences in cost of living between cities.
However, keep in mind that the free Internet salary sources are typically lacking,
so use them only to come up with a ballpark range.
Also try to glean information during interviews and from your network of sources
that indicates the relative value of the position in the company.
Set a Clear Salary Goal
Studies about negotiating salary consistently show that job candidates who set
clear and aggressive goals achieve more favorable settlements than those who
aim low or do not set goals at all. If you want a salary of eighty grand and
a total package worth 100 grand, shoot for it by going a little over 100 grand
to start.
Set a Walk-Away Salary
You know your own financial goals, responsibilities and liabilities. For example,
if you cannot accept anything under seventy grand, do not pretend that you can.
Your walk-away salary depends not only on your financial needs, but also on the
attractiveness of your alternatives to the position offered.
For example, if you are currently making sixty grand and there are no other
offers, settling at sixty-eight grand might not be a bad idea. If, on the other
hand, you have been offered a second position for seventy-five grand with a generous
benefit package, sixty-eight grand seems less reasonable.
Be Fair
The idea of fairness strikes a cord in most everybody, even though people have
differing perceptions of what it means. Obtaining a compensation package that
both you and the employer consider fair is particularly important since you are
entering into an ongoing relationship.
For example, if you discover four months into the job that you are making twenty
percent less than your counterparts, your enthusiasm for your new job can sour;
if your boss feels like you bullied him into a costlier package than the company
initially authorized, he could easily become resentful toward you.
You must be able to make a case for why your self-serving version of fairness
is appropriate. For example, are you worth more than most people because you
have more experience or because you have a track record of attracting big clients?
Remember, if the salary negotiator makes concessions, she needs to be able to
justify her concessions to her boss. Reciprocally, it is helpful for you to identify
what your potential employer considers fair.
Let
ResumeEdge give
your resume and cover letter an edge!
|
About
