Negotiating Salary

You have endured the interview process and finally landed the job.  Next step in the job seeking process is negotiating salary.  Nothing creates anxiety quite like discussing salary. You might ask for too much, ask for too little, or otherwise sabotage your own chances of getting the best possible salary. Negotiation will go more smoothly if you know what to avoid.  When it comes time to negotiating salary for a new job, avoid these mistakes so that you will maximize the possibilities for your career.

Do not come unprepared.  Do you homework. It is inevitable; the employer is going to ask what salary range you desire, possibly as soon as their first contact with you. If you’re caught off-guard, you risk minimizing the salary possibilities for yourself or otherwise saying something that will harm you in salary negotiations later. Know what your value is and be prepared to back it up with facts.

Do not even attempt to negotiate a salary before you have a job offer. The prospective employer has not decided if they want to hire you. Your leverage will be far stronger once someone is certain that you are, indeed, the correct person for the job.

Do not rely on online salary sites for accurate and reliable information. The job titles they list often represent drastically different scopes of responsibility. Professional associations in your industry might do more reliable salary surveys, but even then, you’re more likely to get the most accurate range by simply talking to people in your field.

Do not discuss salary in your cover letter. Some candidates announce their salary requirements in their cover letters without being asked, and some even include their salary history on their resumes. Many cover letters make an early landing in the trash when salary requests are stated and indentified before that part of the negotiations are expected.

Salary conversations should be solely about your value to the company, not about your own finances. Employers don’t pay people based on financial need, so don’t cite your mortgage or your kid’s college tuition as a reason you’re asking for more money.

It is normal to request a few days to consider an offer, and sometimes employers will give you a week or so. Asking for more than that can be a signal that you’re not excited about the job, but might settle for it if you don’t get any other offers.

Always factor in the compensation package. Salary is only one part of a compensation package; you also need to factor in benefits like healthcare, retirement contributions, and paid leave. After all, if you’ll be paying significantly more for healthcare or receiving fewer paid vacation days than you’re used to, that might cancel out part of any salary gains you hope to make. On the other hand, being able to work from home or having an on-site day care might be benefits that make it worth it to you to take a slightly lower salary.

Do not listen to bad advice. Update negotiation strategies to today’s world.

Whatever you do, negotiate. If you simply take the first salary you’re offered, you’ll never know if you could have received more by simply asking.

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“10 Salary Negotiating Mistakes to Avoid.” – On Careers (usnews.com). Web. 05 June