#JobSearch : Know Your Worth – Salary Negotiations. With so many people currently seeking employment, the question is, “What salary are you willing to accept?”

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With so many people currently seeking employment, trying to determine what your skills are worth can be challenging. The question is, “What salary are you willing to accept?” If you have been presented with a job offer, you may feel like you MUST accept what is offered or walk away from the position.

 

However, this is not the case. With careful c-level personal branding and these tips, you can negotiate a better salary and gain the compensation you deserve. 

Research, Research, Research

If you have a friend at the company, ask them how pay works there, and if they know anything about the position that you’re trying for.  Especially look at new employee salary, if available.  Keep in mind that their idea of proficiency may not be yours, just saying that you’re proficient in French doesn’t make it so in their eyes.

Call HR and get the name and full list of responsibilities for the position that you’re interviewing for.  You can use this information to find a benchmark position online — essentially, the commonly used title for what you’ll be doing.  This will allow you to do accurate salary research.

Through various sources online, you should be able to find salary ranges for different positions.  If women’s and men’s pay information is available, use the men’s, even if you’re a woman!  Unfortunately, it’s likely to be higher; in this way you can ensure that your negotiations are as fair as you can make them.

 

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Take into account that location is a big factor in pay rate. What’s the cost of living at the job location?  If possible, get average pay rates there and figure out what the salary range for your position is in that area, if you can’t find the specific numbers on that.

Salary Range
Often, employers like to ask about your salary requirements in advance.  They can use this factor to weed out expensive employees or to offer you less, if you were previously underpaid.  Instead of giving them this leverage, whenever possible, avoid giving any information.  State that it’s negotiable, based upon job responsibilities.

If it’s impossible to avoid completely, give the range that you’ve come up with from your research.  And when in negotiations, start at the top of that range, because you know the company is likely to want to start at the bottom. If the salary you’re offered is far below the range that you expected, verify that the list of responsibilities you used is correct.  Verify the position title.

Research has shown that women are less likely to negotiate for a higher salary than men are. It is believed that this is a factor that leads to lower pay for women.  Women, take this into consideration: you are expected to negotiate.

Think Creatively

Compensation isn’t limited to what you bring home in your paycheck. There are other ways you can be compensated for your time and can help you boost your salary negotiations. If your prospective employer won’t increase your starting salary, consider asking for a performance review in six months to give you time to prove your worth. You may also inquire about:

  • Signing bonuses
  • Stocks
  • Tuition reimbursement
  • Paid time off
  • Flexibility in your work schedule or location

These terms can bring value without increasing the salary your employer will pay. If the job offer involves a move, find out how much the relocation package is worth and if there will be any expenses on your part.  If there are going to be some, ask for additional compensation or a way to minimize your out-of-pocket expenses.  Remember, if your house doesn’t sell right away, it’s possible that you could be carrying 2 mortgages for some time. 

Company Culture is a Factor

Consider the culture of the company.  Salary and benefits aren’t everything. Don’t get me wrong, you need to earn what it takes for you to live at a certain standard, but your happiness in a job and the culture of the company is more important than any pay check that you’ll ever receive. If the company is the right fit and has what you’re looking for, then you should consider all personal and professional benefits related to working in a positive work environment.  You don’t want to be looking for a new job in two years, and the company certainly doesn’t want to be conducting another recruitment in two years.

Practice

Like all other areas of life, practice makes perfect. There is value in practicing your negotiating skills with family members or a friend before you head to the negotiating table. Make sure your loved one offers some resistance so you can practice what you will say when the time comes. Negotiating your salary can be one of the most difficult aspects of interviewing for a new job, especially for women. While you focus on your c-level personal branding when writing a professional resume, you must understand what your real worth is so you can fight for every cent you deserve.

Know Your Bottom-Line

Do ensure that you go in knowing exactly what you’re willing to accept.  Otherwise, you may feel pressured into accepting an offer that you’re not really willing to live with. You need to understand your worth and be prepared to walk away if an employer doesn’t realize that value. If you are the ideal candidate for the position, there is a chance they will offer you more once you let them know you are no longer interested. However, you need to be prepared to follow through if they don’t change their offer.

No matter what decision you make or what happens as part of the negotiation, be enthusiastic, appear gracious, and remain professional.  The company has done you a favor and has already possibly spent thousands of dollars recruiting you. Remember, everyone is a contact in the business world, and the last thing you want to do is burn a bridge.

FSC Career Blog Author:  Erin Kennedy, MCD, CMRW, CPRW, CERW, CEMC, is a Certified Professional Resume Writer/Career Consultant, and the President of Professional Resume Services, named one of Forbes “Top 100 Career Websites”. Considered an influencer, she is consistently listed as a “Top Career Expert to Follow” on Twitter and LinkedIn.

 

FSC Career Blog – December 7, 2020