You are looking for a new job and have either received an offer or you are expecting one. How do you negotiate a salary for a new job?
Do Your Market Research Before You Negotiate a Salary for a New Job
- It is important to perform market research to find out how much the job you are considering is worth. It is also important to find out how much you are worth professionally. Cbsalary.com, payscale.com, and salary.com are some good sites to help determine the value of a job and the value of you as a professional.
- Make sure you know what aspects of a job are important to you. Salary, company culture, benefits, the job itself, etc.
- Know your needs, expectations, and bottom line and stick to your guns. If you know what you want ahead of time, you will not make the mistake of accepting a position that does not meet your needs, expectations, and bottom line.
Important Things To Remember While Negotiating a Salary for a New Job
- You do not need to accept or reject an offer right away. I would suggest saying that you need to think it over after you receive any offer. Sometimes this small tactic is enough to get you an increase in the offer without you even asking.
- Bring copies of your market research with you.
- I would suggest writing out your salary proposal and bringing it with you to your in person salary negotiation meeting or having it with you for your telephone salary negotiation meeting in order to negotiate your salary the way you initially planned to.
- Review your offer carefully and make sure it details all the conditions of your pay. Ask about what perks are offered including benefits, flex time, telecommuting, sign on bonus, paid vacation, paid time off, paid parking, gas reimbursement, public transportation reimbursement, company cell phone or cell phone reimbursement, company laptop, etc. Make sure you consider all the perks offered along with the salary offer.
- Do not be afraid to decline a position if it does not meet your needs, expectations, and bottom line. If you are not willing to work for an employer at the salary offered, thank the employer and politely walk away. If the employer is really interested in you, they will contact you again and be willing to negotiate. There is always a risk however that you will lose the offer, but if the offer does not meet your expectations, bottom line, and needs, then you can find one that does with another employer.
- Make sure you agree on when performance reviews will take place to review your salary, based on your proficiency and performance level before you sign an offer.
Incorrect Things To Do While Negotiating a Salary for a New Job
- Do not act too eager. Always remain calm and try to keep the ball in your court.
- Do not make demands, threats, or ultimatums. If you do this, your offer is likely to be rescinded.
- Do not bring up other offers you may currently have or compare the employer’s offer to another one. This will lead to bad feelings and resentment.