In life, everything is negotiable and starting salaries in a new position are no exception. As a knowledgeable professional, you have experience under your belt and other valuable skills that employers should be charged a premium for utilizing.
Give yourself your worth by negotiating your starting salary within a new company. Not only will it put you on a better financial footing, but it’ll also make you seem like an ambitious businessperson.
Follow the tips below in order to confidently and successfully negotiate a higher starting salary:
1. Mum is the word. If you’re too forthcoming about your salary requirements, you may come off as desperate. Desperation is something that turns an employer off – big time.
• Furthermore, you may lock yourself into a lower starting salary simply because you’ve given too much information about your salary requirements before the employer has even had a chance to assess your value.
• If your interview is truly impressive, the person interviewing you may give you their absolute highest salary offering immediately simply to ensure that you’ll take the position.
2. It’s not about you. Companies hire employees based on what the candidate has to offer the company, not the other way around. Yet, so many candidates choose to exaggerate the fact of how they’ve always dreamt of landing this job, what the position will mean to them, and more.
• Excitement is good. But, acting too exuberant can cause the interviewer to perceive you as immature. Rather than focusing on what a life-changing experience this is for you, make it known that you’re right for the job because you have a proven track record of saving money, increasing profits, improving employee performance, or some other benefit for the company.
• If the interviewer can see you as an equal counterpart, rather than a giddy newbie, only then will the discussion of salary requirements be pertinent. Also, your assertiveness in this high-pressure situation gives the interviewer a glimpse as to how you will handle high-pressure situations in the workplace.
3. Don’t jump at the first offer. Unless you’ve blown the socks off of the employer, it’s unlikely that the first offer you’re presented with is their absolute best. It’s possible, but not probable.
• If an employer says they’re ready to offer you $45,000, keep cool, calm and collected – even if the offer is much lower or higher than you were expecting. Wait a few seconds to see if they adjust the offer, and if not, counter with a higher figure.
• There’s no need to play hardball, just be firm in your approach. If you’re offered $45,000 and you know you’re worth $55,000, ask for $55,000. The worst that can happen is that you’ll be told that $45,000 is their absolute maximum budget. You can still take the offer as long as it’s on the table.
4. Take the offer. If all of your negotiation tactics have failed and you needed the job yesterday, take the offer. But ask the employer to analyze your performance within six month in order to possibly negotiate a raise.
• With an offer like this, the employer has nothing to lose. If you are truly as good as you think you are, you’ll be able to slash their costs, improve staff productivity, or increase sales, and he will be able to afford to offer you a raise.
Negotiation is all about the legwork. Do your research on the company, their current salary offerings, and the average salary in your locality.
If this is your first time negotiating a salary, it can be daunting. But, you have nothing to lose. If the job is being offered to you anyways, why not try to make it as profitable as can be?