You’ve sent in your resume, gone through the interview process and landed the job – congratulations! Now, it’s time to start thinking about salary negotiations with your prospective employer. In other words, you need to find out how much the job is worth and how much your skills, experience and expertise are worth to your employer.
Entering into negotiations may seem like a scary process, but with a little preparation, you’ll be able to go in confident. Here are a few tips that we suggest to get the ball rolling:
Wait for the appropriate time. Before you even start the conversation, do your research on salaries for your particular position in your particular field. Then, to go about getting what you’re worth, you have to be patient. When interviewing, it’s best not to even mention compensation until the employer brings it up.
Let them throw out the first numbers. Resist the urge to throw out the first numbers. Instead, when you’re asked what your salary requirements are, say that they’re open and that it will be based on the position and the overall compensation package. You can also simply say that you’d like to hear more about the position’s specific responsibilities before discussing.
Look at the data. If you must give a number, make sure that your salary request is based on data from your research. Again, knowing the research and industry data will help inform your negotiating technique.
Take your time. Once a potential employer puts a number on the table, you don’t have to respond right way. It shouldn’t be a rushed decision. Simply say that you need to think it over. This response alone can get you an increase in offer.
You can also apply these tips toward negotiating your benefits package. The bottom line is that you have to go in knowing your worth and be confident in your abilities.