Posted by Robert Half on Wednesday, December 17, 2014 - 00:00 | Follow me
You’ve been offered the job, received the details about the pay and benefits, and all that’s left now is for you to make your decision.
You’re already in a good position to negotiate pay because you’ve done your homework on the company and you know the market value of your position. As you respond, remember these five salary negotiation tips:
1. Tell them what you want.
Remember that the best time to negotiate a better salary, in most instances, is before you actually begin the job. So, if you think the amount you’re being offered is insufficient, don’t be shy about countering. Tell the employer that you really want to be there, but also let them know the salary amount for which you’d definitely take the job.
2. Show your value.
Be prepared to show how the company’s investment in you will pay off for them. You probably touched on this subject in your cover letter and during the interview process, but don't stop there. You may need to remind the hiring manager about the special qualities you bring to the table and how those qualities will help the organization grow and flourish — especially if the offer is less than you were expecting and the manager balks when you try to negotiate for more.
3. Decide what’s important to you.
Are you more interested in a high salary than any potential benefits the company might offer? Or would you be willing to take lower pay for more vacation time, a flexible work schedule, or great retirement or health benefits? Figure out ahead of time your must-haves and nice-to-haves. That way, during your salary negotiation, you’ll know when to stand firm and when to compromise.
4. Don’t nickel and dime.
The purpose of being at the negotiating table is to reach an agreement that is fair to both you and your potential employer, so don’t try to squeeze the company for everything you can get. Ask for too much, and the employer will begin to question whether you’re the right one for the position. And if that happens, you might start your new job off on the wrong foot.
5. Ink it.
Once you and your employer agree on terms, get that agreement in writing. Make sure the document lists your job description, key responsibilities, salary and any special provisions that came out of your discussion. Sign it, and have your employer do the same. This will help prevent any misunderstandings down the road.
What did you find worthwhile in your last salary negotiation? Did it work out the way you wanted, or do you wish you handled it differently? Let us know in the comments section.