Negotiating Salaries - Tips for Jobseekers
Negotiating a higher salary is one of the most important things a jobseeker can do to increase their financial security. Even small differences in wages can have a big impact over time; so jobseekers should take the time to prepare and negotiate the best salary possible. Here are some tips for jobseekers negotiating their salaries.
Doing Your Research
Before negotiating with a potential employer, it is important to do some research beforehand. Knowing the current market rates for your specific role, and for similar positions in different industries, can give you the facts you need to make an informed decision. Researching comparable salaries from other employers in the same industry, or even other positions in the same company, can be extremely helpful. It is also important to research both the industry and the potential employer, which will give you added negotiating power.
Understand Your Own Worth
Before engaging in any salary negotiation process, it is important for jobseekers to understand their own worth. Knowing your job qualifications, level of expertise and what each of your skills are worth is key to confident and beneficial salary negotiations. This research can help you to negotiate for a salary that accurately reflects the work and value you will bring to the position.
Making the Ask
Once you are well-prepared, the actual ask can be intimidating. However, approaching any negotiation with confidence is important for making the process as smooth as possible. Always start with your research to explain what the current market rate is and back up any raises you are asking for with facts. Make sure you understand what you are worth and why. Be friendly, but also be assertive in making your case.
Negotiating Your Benefits
It is important to remember that salary isn’t the only factor when looking at job offers. A lower salary can sometimes come with other benefits like vacation or flex-time, health insurance and retirement benefits. Make sure to factor in these benefits when deciding between multiple job offers and negotiating with potential employers.
Setting the Tone
It is important to consider the tone of any negotiation. Always be polite but firm and use respectful language when discussing the specifics of your salary or other benefits. Ask for what you want and be open to compromise or negotiation. Making sure you maintain a good relationship with the employer is key, even after the negotiations end.
The Art of Saying No
Knowing when to turn down an offer is just as important as knowing when to accept one. Don’t be afraid to turn down a job offer or walk away from an employer if you don’t feel the salary is commensurate with the value of the job. Trust yourself and know when to say “No".
Preparing for a Counteroffer
Sometimes, employers may come back with a counter-offer after you have negotiated your salary. It is important to consider any counter-offer and decide for yourself what will be most beneficial. Remember, if you have done your research and understood your own worth, you will have a better idea of how to move forward.
Tips for Successful Negotiation
When it comes to negotiating a salary, preparation is key. Take the time to research your job and the company, as well as the current wage of similar positions. Also, understand your own worth and be ready to make your case. Remember to keep the conversation friendly, professional and, above all, honest, and trust your own judgement when deciding on an outcome.