One of the hardest conversations people have when offered a new position is asking for more money. This can be uncomfortable to some due to the fear of jeopardizing the new opportunity with the potential employer. It’s important to remember your own self-worth; many hiring managers want you to think over the offer and come back with your thoughts. This shows that you are confident in yourself and your ability to perform the job responsibilities in this new role. Here are some helpful tips to consider when negotiating with a potential employer:
Do Your Research– When entering a salary negotiation, you need to conduct as much research as possible to support the number you will potentially be asking for. Use resources like Glassdoor, Payscale and Salary Expert to get a sense of the average salary for this position in the area.
Build Your Case– During the interview process, you were probably asked “Why are you a good fit for this position?”, which you then provided evidence from previous experiences and skillsets that would make you the ideal fit for the role. You will do the same with negotiating the salary, bring specific examples of why your skills and experience would benefit the company (ex. certifications, technical skills).
Be Honest– Explain why the number you are asking for is deserving, the hiring manager has set the salary at this number for a reason (someone previously may have held this position earning this salary). If you don’t have justifications for this number, it would be unwise to make this demand. If you are mentioning that you have other offers on the table for leverage, explain why you would like to pass these other offers over for this position. Be sure to never lie about other offers or salary ranges in previous positions, if the hiring manager finds out of this, they may pull the offer.
Factor in Benefits & Perks– To often we get fixated on a specific number when negotiating salary, instead of looking at other factors and big picture. Look at the value of the entire deal (responsibilities, location, travel, flexibility, growth/promotion opportunities, perks, continued education) when coming up with your ask number. Remember to incorporate health insurance coverage, retirement savings when looking at multiple offers. You might make less in a base salary with a company but have fantastic benefits where you net a greater income.
Practice the Delivery– It’s a great idea to ask a friend or mentor to practice the conversation that will be taking place with the hiring manager. You will want to find someone that already works in the industry that might have a history as a hiring manager who can coach you through the conversation. Practicing this delivery will make you feel surer of yourself heading into the discussion. You can always schedule an appointment with a Career Advisor to practice this conversation as well (Schedule an Appointment)
Know When to Finalize- Most employers won’t pull an offer but dragging out the salary negotiation can be frustrating for the hiring manager. You never want to start a new opportunity on the wrong foot. If come back to the table with a salary number, and the hiring manager counters with a number lower than this, then you need to weight options and decide. Be honest through this process.
Get Everything in Writing– Nothing is final until you receive an official offer and sign your contract. You want to make sure everything that was negotiated (salary, signing bonus, moving expenses, job description, and responsibilities) are factored into this written document.
