If you think that salary negotiation is only for experienced career people and not for young graduates that have limited to nil experience, you are mistaken. Most first-time job seekers choose not to raise this subject with their recruiters for fear that they might be tagged as smug and overconfident. What they keep missing is the opportunity to earn more if only they knew how to position their case for a better compensation package. Given this, you realize that while it can be uncomfortable to discuss salary rates with your employer, it is also extremely important that you do.
When done diplomatically, salary negotiation can be a particularly rewarding feat, both for the applicant and the employer. Here are five tips on how you can keep your discussion on compensation professional and meaningful. Remember these when you are faced with the need to negotiate.
- Show appreciation for the offer.
Smile and acknowledge the compensation package being presented to you by the employer, even if it isn’t exactly what you expected. If you need time to review the offer, politely ask to be given a couple of days. Do not be pressured into making a decision right away.
- Conduct your research and prepare your data.
Whether it’s for teaching assignments, construction jobs, or office management, the internet offers the latest information on compensation and benefits. Get a hold of updated data from reliable web sources and compare these against the package offered to you. Consider all aspects of the assignment including work location, vacation time, and allowances.
- Promptly touch base with the employer.
- Avoid comparing them with other employers.
This approach rarely works as it creates a negative tone to your case. Instead, justify your request with an explanation as to why you think you should be given more. Think through your argument carefully and make sure that what you are asking for is realistic. Leverage on the data you gathered from your research.
- Make the decision.
Remain positive and enthusiastic until the last minute, whether you have decided to accept or decline the offer. Maintain an honest and sincere demeanor when bowing out of the offer. You may politely request to be informed in the future should there be an opportunity that corresponds to your skills.
The manner by which you negotiate your salary tells more about your character than any of the examinations and interviews you aced during the recruitment process. It could either make or break the deal.
Take the time to appreciate the art of negotiating at as early as your first job application. You will find the need to do this more often as you progress in your career.