Ways to Negotiate Your Salary
When you’re ready to interview for a job, you’ll probably have a lot of questions to ask your interviewer. The questions can regard company culture, job expectations, and much more. One of the most common and, arguably, most important questions you’ll want to ask pertains to what your salary and benefits are. Starting a job at a new company allows you to leverage your skills and experience for a better salary and better benefits. On the other hand, you can also negotiate your salary at your current company if you’ve taken on more responsibility. In this article, we’ll detail how to negotiate a job offer in ways that will help you when you’re interviewing for a new job or want to be recognized at your current company. Learning how to negotiate your salary is an invaluable skill.
Negotiating salary can seem daunting because you may feel like you have to accept the first offer. However, getting hired by a new company is an agreement for both the new employee and the company, meaning that the parties involved in the hiring process have to agree to the terms of employment. This includes liking and agreeing to your new salary and benefits. To negotiate your salary, you’ll want to be prepared. Of course, you’ll want to be paid more than your previous job since you’re bringing new skills and experience to your next employer.
To negotiate your salary, you can do some research online to see what other people in your prospective position make, including in the area you live. You can also find out how many years of experience correlate with what range of salary. This way, during the interview, when salary negotiations occur, you are aptly prepared to discuss the facts of why you’re presenting the salary you are. When you speak with recruiters or hiring managers in a calm but confident way, you’re helping them listen to you and your valid salary negotiation points!
There are many suggestions when it comes to salary negotiations. Next, we’ll describe other helpful salary negotiating tips for when you negotiate your salary.
Salary Negotiation Tips
These salary negotiation tips will help you communicate what you’d like out of a job offer. As you negotiate your salary with the hiring manager, how they respond can also give you a clue as to how the company’s personnel approaches such discussions. Their attitude can help you determine if the company is the right fit for you, which is another part of the interview process. Nevertheless, let’s continue with more salary negotiation tips.
When you negotiate your salary, you want to be approachable and not aggressive in any way. By showing the facts behind your desired (but reasonable) salary calmly, your hiring manager more likely to hear you out. By illustrating the experience you have and showing that people with similar jobs and experience make a certain salary, you are presenting your case objectively. You should also affirm that you’re highly interested in the position regardless. Otherwise, you risk the hiring manager not wanting to hire you if you seem like you won’t take the job because of their offer.
You Can Compromise
It’s possible that the hiring manager can’t offer you the salary you had in mind. It’s important to work within their budget. However, a job offer also includes benefits, such as paid time off, healthcare, a sign-on bonus, sick days, and stock options, all of which you can negotiate for. If a hiring manager can’t match the salary you’re looking for, perhaps you can ask for more paid time off, a higher sign-on bonus, or better stock options. Out of all of these benefits, think about what’s most important to you, and ask if there’s room to increase your benefits instead of your salary. The hiring manager may respond positively to this suggestion since they can’t match your ideal salary. When you show that you’re open to these negotiations, your hiring manager might be as well.
Respect Their Budget
Unfortunately, businesses sometimes have tight budgets that hiring managers can’t adjust for potential candidates. If a hiring manager expresses this when negotiating salary, it’s critical that you remain respectful and listen to why the company can’t offer a higher salary or better benefits. You can ask if the company offers cost-of-living adjustments or promotions, both of which include an increase in salary once you’ve worked in the new position for a period of time. Remaining respectful is key for the hiring manager to still consider you for the job even though they can’t match your ideal salary and benefits.
As you consider these salary negotiation tips, remember that it is a delicate topic, as people often avoid talking about their salary and money. However, it’s important to be rightly compensated for a job. Next, we’ll describe how to negotiate a job offer, even after you’ve accepted it.
How to Negotiate a Job Offer
One of the best times to successfully negotiate a salary is when you receive a job offer, especially if a salary discussion didn’t occur during your interview. If you didn’t discuss your salary and benefits during the interview, knowing that the company wants to hire you is one way to boost your confidence to negotiate your salary and benefits. Transparency goes a long way, as long as you illustrate why you need to renegotiate your job offer. As you talk with your hiring manager or recruiter, remain calm and keep confident to figure out how to compromise with them. However, there is a slight risk when it comes to negotiating your salary.
Risk of Salary Negotiation
How do you negotiate a job offer when there might be a risk of losing the job offer? You’ll want to remain polite and assure the hiring manager that you’re looking forward to starting your work while remaining firm in negotiation details. Being patient and offering a reasonable salary range and benefits is important for the hiring manager to consider your negotiation while still offering you the job. Now, how do you negotiate a job offer after you accept it?
Negotiating an Accepted Job Offer
Negotiating your salary after you’ve accepted a job offer can be difficult, which is why it’s best to negotiate a job offer either during the interview or once you have an offer, but before you accept it. You can ask for a raise after you’ve accepted a job offer and worked at your company for a while, though especially if you’ve taken on more responsibility than what is in your job description. To ask for a raise, you’ll have to ask your manager, who might involve additional management and human resource employees to make a decision. When you ask for a raise, you can explain that you’ve gained more experience and that you’ve taken on more responsibility. By remaining calm and patient, your superiors might hear your side and give you a raise.
Negotiating your salary may seem daunting, whether you’re interviewing for a position, discussing the details of a job offer, or asking your manager for a raise. However, there are ways to go about increasing your salary to accurately reflect your skills and experience. By using these tips to negotiate your salary, you can effectively obtain the salary and benefits that align with your credentials. At Brightwing, we help our candidates find a position that acknowledges what they bring to a company.