Salary negotiation can be an awkward phase of the employment process but it is one that is critical since your base salary will follow you for years to come. All your raises and bonuses will be based off this salary so you want to get as much as you can - a fair price for your knowledge and skills. While many employers want to pay their employees fairly, their goal is to pay as little as possible. Nevertheless, if you are talking about salary then you are probably at the end stages of the employment process and your are both working toward the goal of hiring you for the job so here are some tips that will make the negotiations go a bit more smoothly.
The first thing you need to do is know what you can expect to earn for your particular job in your area. Now a few things will influence this such as education and years of experience but you should be able to contact a professional organization from your career field and get a general salary range for your job type.
Next you want to evaluate your skills in relation to others in your position and to the exact position you are applying for. Are your skills an exact match or are you lacking something. The more you bring to the table, and the less training you will need, the more valuable you will be and the higher salary you can command.
One big mistake a lot of people make in salary negotiation is basing your new salary on your current salary. You may have been underpaid in your old job, or perhaps you have been more highly educated since or beefed up your skills. Don’t be afraid to give yourself a big raise in your new job - but you must let your prospective employer know why you expect so much more. When they ask you your current salary you should be honest with them.
Also, consider the benefits package along with the salary. How much will you have to contribute towards insurance? Do they have a matching 401K? Is there medical, vision and dental insurance? All these things contribute to your out of pocket expense and need to be calculated into your salary requirements.
Negotiate fairly with a positive attitude. Don’t have a “us vs. them” way of thinking, after all you are both after the same goal and you need only come to an agreement on a fair compensation. Also, once you have a greed on a salary, you can’t go back so be sure that you know what you want, but also be realistic and don’t price yourself out of the market!
Salary negotiation is an important phase in your hiring and once it is done with you must be happy with the outcome or you will never be happy in your job. Set realistic expectations and your sure to get the salary you deserve.