Searching for a job, interviewing, and getting the position is a stressful process, so it’s not surprising that many people are nervous about asking for more money once they have an offer in hand. The last thing they want is to jeopardize their offer. However, people who negotiate their salary typically increase their starting salary by an average of $5,000. Moreover, most employers expect salary negotiation after an initial job offer. If you have specialized skills or an impressive resume, you could be leaving money on the table. So, consider these helpful tips for negotiating the salary you deserve.
Familiarize Yourself with Industry Trends
You need to arm yourself with as much information as possible when it comes to salary negotiations. In order to get a current, realistic view of compensation in your field, do some homework and study trends. Job listing sites such as Glassdoor, PayScale, and LinkedIn are a great resource for finding salary ranges. You can also reach out to recruiters to gather insight about average salaries for similar jobs. In addition to finding out average salaries, you should also pay attention to the most in-demand skills for jobs in your field.
Know Your Value
In order to get the pay you deserve, you must first know what you’re worth. Make a list of your strengths, accomplishments, skills, specialized training, certifications, experience, and any other details that set you apart from other candidates. Have a keen awareness of how your skills can benefit the company’s bottom line. By tying these strengths to your initial offer, you can build a solid case for a salary increase.
Ask for More Than You Hope to Get
Once you have a salary range in mind, it can be tempting to ask for something in the middle so you don’t come off too forward. However, you should always ask for something toward the top. First off, you should assume you are worth the higher amount. Second, your employer will almost certainly counter the offer so you want to leave a little wiggle room to come up with a salary you are willing to accept.
Consider the Entire Compensation Package
Money is certainly a huge incentive, but there is often more to a job than just the pay. Before entering into the negotiation, you need to think about what other benefits you would be willing to accept in lieu of a lower salary. Some of these potential benefits would include:
-paid vacation days
-flexible working hours
-remote work opportunities
-opportunities for promotion
Practice Your Delivery
Once you have all the information needed to negotiate, it’s always a good idea to practice the conversation ahead of time. Consider practicing with a colleague, professional mentor, or other business-savvy person who can tell you what to expect and can help coach you through the process.