Salary Negotiation: Tips for Job Seekers

Understand the Market Value

Knowing the market value of a job in your field is essential when negotiating salary. Research the average salaries for similar positions in your industry or geographic area. Sites like the Bureau of Labor Statistics can help you understand those trends. This helps you understand what’s reasonable when negotiating.

Know Your Negotiation Point

You’ll want to negotiate a salary that’s fair and reflects your skills and experience. It can help to consider what the job’s worth to you, your potential value to the company, and the cost of living and median salaries in the area. Knowing these facts gives you an idea of what you are worth and a starting point from which to negotiate.

Discuss Benefits

A salary isn’t the only factor to consider when negotiating. Talk to the employer about other potential benefits, such as more vacation time, flexible working hours, or access to better health care plans. These benefits can be more valuable to you over the long run, and can help you to be happier and more productive in your job.

Be Prepared to Justify Your Counter-Offer

After you make a counter-offer, don’t be surprised if your employer responds with questions. Be prepared to justify your offer with your experience and expertise in the field. All of the research and preparation you did should come in handy and help to reinforce your proposal.

Be Willing to Explore Alternatives

If your employer is not able to meet your request for a higher salary, that doesn’t have to mean the end of the negotiation. Perhaps you can settle on a higher starting salary with the promise of more money after a few months of service. You could offer to take on a higher level of responsibility for a slightly higher salary. Be creative and explore other options.

Know When to Hold Out

Be conscious of the power dynamics during the negotiation. If you’re the only qualified candidate and your employer doesn’t offer what you deem to be a fair salary, you might be able to hold out for a better offer. Like any negotiation, you have to be prepared to walk away from the table if it’s not a good fit.

Be Flexible

Don’t feel like a salary negotiation needs to be a static affair. In addition to offering a higher salary, you could request bonuses, perks, or more resources like a bigger budget or access to more technology. Work with your employer to find an arrangement that works for everyone.