You just graduated from college. Thankfully, you received a job offer relatively quickly - what a relief! However, the salary the company is offering you isn’t as much as you expected. So, you’re probably going back and forth wondering, “Should I negotiate salary or would they laugh in my face?” So, is it ever appropriate for a recent grad to negotiate salary? The answer is: it depends. If you’re applying for an entry-level job with a set salary, then no, you don’t want to try to negotiate salary. The company was very clear about what it was willing to pay you and you have to be willing to accept that. However, in many cases, companies don’t talk about the salary in the initial stages of the hiring process. In this case, you would need to do your homework. Go to Glassdoor, look up this company, and check out the estimated salary ranges for this particular position. This will give you an idea of what to expect. You can also use Glassdoor to look up competitors to see what they’re paying employees in this type of role so you can compare salary rates. If the company you’re interested in isn’t paying the market rate for the role, you can go back to the organization after getting the job offer and ask for more money... BUT you NEED to have a game plan if you’re going to do this, according to career expert J.T. O’Donnell. “If you think about it, no company is going to pay you more money just because,” said O’Donnell. “You have to give them some valid reasons why.” If you feel like you can’t prove that you’re worth the additional income, then you can propose a six month review (instead of an annual review). If you can prove your value during that time, then they might be open to paying you more money at that point.
The way you present your requests during a salary negotiation has a dramatic impact on whether you get what you want from an employer. Be firm, but flexible, self-confident, but not arrogant or demanding, and sell your skills and knowledge in a way that appeals to the employer's concern about the bottom line. Here are seven great salary negotiation strategies that can help you get the salary you deserve when dealing with recruiters.
Salary Negotiation StrategiesLet me give you a few salary negotiation strategies to help you get your biggest paycheck yet...
1. Be Enthusiastic, Polite, And ProfessionalLet the employer know by your tone of voice and your demeanor that your goal is a win-win solution. If you are too pushy or adopt a “take-it-or-leave-it" attitude, the employer may get the impression that you're not that interested in the job and withdraw the offer.
2. Start High And Work Toward A Middle GroundAsk for a little more than you think the employer wants to pay and then negotiate a middle ground between the employer's first offer and your counter-proposal.
3. Be CreativeLook beyond base salary for ways to boost your income. For example:
- Holiday days. If new employees must work for 6 to 12 months before receiving paid holidays, ask that this restriction be waived.
- Early salary review.
- Bonuses. In addition to requesting a sign-on bonus, you may be able to negotiate a performance bonus.
4. Continue Selling YourselfAs you negotiate, remind the employer how the company will benefit from your services. Let's say, for example, that the employer balks at giving you $8,000 more in compensation. Explain how you will recoup that amount and more for the company. For instance:
“I realize you have a budget to worry about. However, remember that with the desktop publishing skills I bring to the position, you won't have to hire outside vendors to produce our monthly customer newsletter and other publications. That alone should produce far more than $8,000 in savings a year."In other words, justify every additional money or benefit you request. Remember to do so by focusing on the employer's needs, not yours.
5. Ask A Fair PriceBe sure that your requests are reasonable and in line with the current marketplace. If the salary offer is below market value, gently suggest that it's in the company's best interest to pay the going rate:
“The research that I've done indicates that the going rate for a position such as this is $5,000 higher than this offer. Although I'd really like to work for you, I can't justify doing so for less than market value. I think if you reevaluate the position and consider its importance to your bottom line, you'll agree that it's worth paying market price to get someone who can really make an impact."