Negotiating a Salary the Right Way

Encho Enevski/123RF.com

The salary discussion is often one of the most tedious dilemmas that candidates face during the application process. When it comes to this question, candidates are usually concerned about how to answer, knowing that the wrong response could hurt their chances of getting the job they want. As we all know, the golden rule of salary is not to bring it up until the employer does. What if there was a way to take the anxiety out of this question? Salary negotiation doesn’t have to be daunting if you have a strategy and know how to approach an employer with your requests and inquiries.

Educating yourself

The first thing you need to do is educate yourself about salary negotiations. Here are a few facts to know when it comes to negotiating a salary:

1. Employers usually will offer a lower salary for the first contract they give you.
2. Employers expect that you have done your research and understand the average salary that the company offers.
3. It is typically expected that candidates will try to negotiate their salaries upon the first offer. This can often make you look more organized and have a strong understanding of what you want.
4. If your salary is non-negotiable, understanding the benefits and having a plan to negotiate the offered benefits can be helpful.
5. You can significantly increase your salary over the span of your career from negotiations.

Making a plan

When you get an interview, you must first prepare. Aside from the typical interview questions, salary negotiation questions have a strategy all their own and must be approached with confidence and tact. This should be one of the main areas for which you prepare before moving on with the interview process. Once you know the organization's name, use tools such as payscale.com to research the company and the position the for which you are interviewing. Sites such as this one will often give information about average salaries at the company, as well as insider tips about what to expect during the interview process.

So, you get the call and it's time to prepare for the interview and the process that will follow. One of they key objectives, when it comes to convincing an employer that you are worth the salary you are proposing, is the ability to convince the interviewer of your worth. This means that you must be able to brand yourself in a manner that shows your in-depth knowledge of the open position and your value to the organization. One helpful tip is to make references to the employer about how you can provide improvements for the company while you are answering the interviewer’s questions. By making direct references, you will be able to describe your capabilities and show how knowledgeable you are, which will help when the salary question appears. The main point is to get the employer to like you and to appreciate the ways in which you will contribute. In this way, you are better prepared when the salary discussion begins.

Occasionally the salary question appears too early in the interview, and you are not ready to give an answer. In this instance, you can answer the question by stating that you would like to learn more about the organization and the position at hand before providing an answer. If the employer is still looking for a salary range at the early stage of the interview process, simply work with the numbers you have gathered from your research and provide a range. For example, if they are offering $50K suggest a range of $50K to $55K. Always avoid going below the range that they would be offering.

Putting it all Together

Offer First – If you are given the opportunity to give a salary and have done your research, offer the employer what you are looking for in accordance with the average salary for this role.

Give it time – When you get an offer, never rush into things; give yourself a few days to digest the offer and see where you could possibly get an improvement for yourself. A good amount of time to wait is 3 days. Then come back to the employer with your counter offer, whether it's requesting more benefits (e.g. vacation time) or more salary.

When it comes to salary and benefits negotiation, it is important to ensure that you get an offer that you feel will suit your overall qualifications and lifestyle. Remember that there is more to negotiation than just the take-home salary alone. You also can bargain for more vacation time, higher bonuses, improved benefits, or sometimes even a signing bonus. The rule of thumb is to take the process of negotiation as something that is expected by employers and to give yourself time to review what is being offered to you from the beginning.