Posted by: careerworks | February 27, 2012

Negotiating Your Next Compensation Package

Imagine you have just received a job offer that you are very interested in accepting, the benefits are better than expected, the commute is ideal, but the salary is a disappointment. How can you move this job offer from good offer to a  great offer? We can help you by providing ways in which to effectively negotiate an acceptable salary with employers. Consider the following tips:

What’s Your Strategy? – Set guidelines for yourself on what you deem acceptable. Don’t forget, it is important not to look at salary alone. You should factor in and rate other important attributes such as commute time, career advancement, etc. Have your limits in mind and know what you want, what you expect, and what you will settle for.

Do your Homework – The key to a successful salary negotiation is preparation. Research your market value to determine what a person with your skills, education and qualifications is earning in your area.

Convince the Interviewer That They Need You – When you begin the negotiation process, position yourself as a “must have” candidate. Be prepared to  demonstrate your value, but at the same time, not show desperation that you NEED the job. This will give you more leverage at the negotiation table.

Wait to Talk Numbers – Gauge the employer’s interest in you before you start talking numbers. If the employer is interested, they will reveal the level of compensation they are willing to offer. The salary you received in the past is your bargaining chip, so don’t disclose these numbers too soon. If the interviewer does raise the question of salary before you have received an offer, try to return the question to them by asking what they are expecting to pay someone with your qualifications. If that doesn’t work, ask them to give you a range that they are contemplating based on their needs.

Get it in Writing – Don’t start negotiating until you have received an offer in writing. Job offer terms are not always crystal clear, so before you officially accept, examine the job from all angles. Make sure you take into consideration the additional benefits that can add as much as forty percent to your base salary. Don’t feel pressured to immediately respond to an offer.

Practice with Live Job Offers – Refine your negotiation skills by practicing your negotiation strategy with companies that extend an offer that you would most likely not consider. You never know, your great negotiation skills may turn a “not so good” offer into a great offer.

Stay Professional – It is important to remain professional throughout any negotiation process, despite all of the feelings that you may be experiencing. Remain calm, cool, collected and confident.

Talking salary is never easy. Ask for too much and you can be seen as money hungry. Ask for too little and you can risk earning less than what you deserve or not being hired at all. Knowing how much you are worth is a simple, yet critical step in your job search process.

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