How to Negotiate Salary When Landing a New Job

It’s good if you have found a new job and has passed the stages of submitting resume, telephone screenings, and personal interviews successfully. Now you need to complete the fundamental task of negotiating your salary. The process is very crucial and requires good planning. You have to balance what you want versus what you think the employer will pay. Neither asks too much or too little. Ask too much and the job offer may be rescinded. Ask for too little and lose out and feel undervalued for the rest of your tenure with that employer. Remember that any future raises are usually a percentage of your starting salary.

Here are some pointers to complete your salary negotiation and close the deal:

Instructions

Step 1

Be a sharp negotiator.

It is a big mistake to just accept whatever offer is made and expect fix it later once you have shown your work prowess. Instead of recognizing how valuable you are and increasing your salary, your employer will probably just congratulate themselves for getting a great deal on a new hire.

Step 2

Carefully consider first offer and reject it.

Most employers do not expect that you will accept initial offers. Make a counter offer even if the first salary offer is close to what you were expecting. But always present it in friendly negotiation terms. Do not make ultimatums or demands unless you have other offers and are prepared leave without the new job. If the monetary amount is fixed, you could negotiate other types of compensation such as flex time, more vacation time, and working from home or performance bonuses.

Step 3

Do your homework and be prepared.

Know ahead of time the average pay for your new position. Search online for salary surveys that list the usual pay for your area and job title. Come prepared to show how your skills and job history make you worth more money.

Step 4

Compensation is more than your paycheck.

Salary is only one point in the entire package. Talk about such topics as bonuses, stock options, promotions, vacation, etc. Don’t end the negotiation without having the entire compensation package on the table and to your liking.

Step 5

Don’t be afraid to ask.

Be straight and discuss your expectations. If you think you deserve more than the initial salary, layout a plan for future pay increases. Ask for a six month review to discuss a raise after you have proven yourself.

Step 6

Be cautious of basing your new paycheck on your old one.

Many employers will ask about your previous salary and offer you a similar amount. Never lie in such situations as the information can easily be verified. Instead, try to justify your desired salary.

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