For some people, salary negotiations can be a difficult thing to do. For others, it comes very naturally. And for some, there is almost a cockiness displayed when explaining why they deserve the money they’re asking for. Regardless of which group you fall into, there are certain aspects of the process to be aware of as well as how much leeway that employer will have when it comes to the negotiating process.
First of all, the leeway for salary negotiations that an employer has usually depends on one or more of the following employment environment issues:
– company-specific factors that may affect the given salary such as comparable employment, your culture, your pay philosophy, and your promotion practices
– existing economic conditions outside or within your specific industry
– existing economic conditions outside or within your specific job market
– experience and career progress of the individual
– fair market value for the job you are after
– the level of the job from outside or within your organization
– the salary range for the job outside or within your organization
– the salary range for the job outside or within your geographic area
– the scarcity of experience and skills needed for the job
The following is a list of 6 helpful tips to help you in salary negotiations:
Helpful Tip #1 – Research what the overall picture is for the salary range of the position you’re after. Contacting a professional organization for this or doing some due diligence online is usually recommended in order to find out what the national average salary range is for the particular position that you’re looking at.
Helpful Tip #2 – Calculate your skill level. Skill levels will vary based on the current economic conditions and the industry setting. Once you determine your skill level, you’ll have a pretty good idea as to what your worth is valued out by the company.
Helpful Tip #3 – Weigh the compensation package that the company is offering. Take into consideration aspects such as the economic, geographic, and industry factors of the offer. In order to ensure that you get the fairest salary offer possible, weigh the company benefits package (allowed time off; compensation and promotion possibilities; company health and medical insurance; and the retirement compensation and benefits.
Helpful Tip #4 – Go in with a positive attitude. Negotiating is not a competition. However, it does need to finish as a win-win situation for both you and the company.
Helpful Tip #5 – Let the employer know why you’re worth every penny of that salary you’re negotiating for. No sales job you have ever had will equal how well you need to close this deal. Never tell the employer (directly) that what you’re worth is more than what they are offering. A good HR person will know whether or not you deserve more than they are putting on the table and will make adjustments to the offer if they have the leverage to do so.
Helpful Tip #6 – Know when to shut up. Once the offer is sealed, pushing any further will only result in a negative initial impression.