Negotiating Salary, Benefits, etc.
Salary Negotiation
WHY NEGOTIATE SALARY?
- Raises are given as percentage increases to current salaries. The higher the salary, the more that percent raise will make a difference.
- Salaries often follow you to your next job.
- Shows the employer that you are confident in your value-add to the organization.
Being a new college graduate, remember the following as you approach negotiating a salary for your first job:
- Plan ahead and know your worth.
- Prior to your interview, research the company’s salary ranges and salary ranges for this type of position and industry. Keep in mind your level of education and experience.
- Know the lowest salary you would consider.
- DO NOT ask about salary and benefits during the interview process. You can negotiate after an offer is made.
- It's not personal.
- The employer does not need to know about your current student loans or current financial situation.
- Employers do not take it personally when you ask if there is room for negotiation
- Know your strengths: Relevant work experience, graduate degrees, technical expertise, or a written job offer from another employer providing a higher salary are all strengths that can be used when approached the right way.
- Be the second to speak. Do your best not to identify dollar amounts during the interview process. If cornered to do it, give a range and state that it depends on the benefits package.
- Practicing helps you identify hiccups, what you are missing, as well as helps to calm nerves.
- Be specific. While in the interview process you may have been forced to give a range in which you would be comfortable, during the salary negotiations, be specific as to dollar amount.
- Make it official. Get everything in writing and request documentation with the agreed upon adjustments.
QUESTIONS TO ASK DURING THE NEGOTIATION
- Is there room for negotiation?
- I’m very interested in the role, but I would like to discuss the salary you’re offering.
- What are opportunities for growth are possible?
SALARY CALCULATORS & RESOURCES
Salaries depend on a variety of factors such as education, experience, job description, and location. The following links should serve as a resource to help you research how job salaries or offers compare to those surveyed.
ADDITIONAL BENEFITS TO CONSIDER NEGOTIATING
- Start Dates
- Vacation Time
- Parking
- Tuition Reimbursement
- Flexibility: Hours, flex time, remote work options
- Title Adjustment
- Bonus or Stock Pay
- Earlier Salary Review
- Professional Development
- Relocation Assistance