Salary negotiation can seem complicated, but with some practice, it can be better facilitated if appropriate for your industry. Salary negotiation should not be done until an employer has made an offer. Here are some things to consider when negotiating.
Use glassdoor to navigate salary ranges for a variety of positions. Search by industry, location, job type, company size, years of experience, etc. Look at the range for each position and decide where you might be positioned on that range based on your experience and education.
Before the process
- Research the industry; each industry has different standards for negotiation. For example, government salaries are often set and are not negotiable. Research the salary averages for your job target(s). Try to find out the industry’s salary norms; look for job postings with salaries, find competitors’ salaries, conduct informational interviews, and visit company websites.
- Understand your worth in terms of what you have to offer in comparison to the other candidates. You will also need to understand what you need to thrive within a location. Evaluate the cost of living within the area, the minimum salary needed for personal expenses or to pay all of your bills, the job location, etc. A good idea is to look at your expenses to determine how much you need to pay your necessary bills.
During the Process
- When you first receive a compensation package, make sure to review it all, not just the salary. It is also important to understand if sections of the package are negotiable.
- Things that may be negotiable may include, but are not limited to; start date, vacation leave, stock options, relocation expenses, tuition reimbursement, professional development, retirement plans, signing bonuses, parking costs, and technology costs.
Ending the Process
- The recruiter or manager will often give some verbal clues that the offer is final or nearly so: “This is the best that we can do,” or “This is our final offer.” This is the time to finalize the agreement when you feel the offer is fair and is within the range that you can accept. Finally, accept or decline the offer both verbally and in writing. You can practice salary negotiation on biginterview.uncc.edu.
Benefits are more than Money
What are your salary requirements?
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