Guidelines for Salary Negotiations
For many graduates, salary negotiations can be a difficult experience. Yes, you
want the job and you need more money, but you are afraid to be more assertive
with your prospective employer.
To add to this, how do you negotiate a higher salary or improved fringe
benefits if, as a recent university or college graduate, you have little or no
experience? The answer is that while you don't always get what you want, it is
important to understand the negotiating process and how it works. Then, start
integrating yourself into a more active role, if only to feel more in control
and perhaps make more money in the process.
Let's start by understanding what negotiation is. Very simply, it's meeting and
discussing a subject with another person in order to reach an agreement. The
art of negotiation is based upon mutual agreement of issues, not confrontation.
The end result should be a win-win situation for both parties.
While salary negotiation begins after the interview process, it really starts
with the initial interview. Because it's what you tell the company about
yourself, your accomplishments and what you can do for them that will increase
your value when the time comes to offer you a job. Use active words in the
interview to describe your accomplishments such as: I initiated, I oversaw, I
created, I took charge of, I followed up on, I actively contributed to, and I
developed. The ability to handle details, multiple projects or excellent time
management and follow up skills will also contribute to your value.
Negotiating is not merely to tell them that you want more money. You will need
to have answers to certain questions prior to discussing your salary, to know
if there is even a chance to get more. Among the questions to which you should
have answers are:
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What is the salary range of the job in question?
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What is the lowest salary that I will consider?
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What makes me worth a higher salary?
Some places you might go to get salary information are people who work in that
industry or at that company, libraries, job hunting web sites on the Internet,
trade associations and trade publications.
Even if you know the answers to these questions, there will most likely be some
objections to your request for more money. Among those:
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you don't have enough experience
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other employees aren't making more
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the budget won't permit it and, of course, the ever popular
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that's what we're paying new hires.
Think about how you would respond to these objections in a way that continues
the discussion on a positive note without backing yourself into a corner.
Remember that you are asking questions, not delivering an ultimatum. For
example, to answer the "other employees aren't making more" statement, you
might say: "I see. (You pause a little.) What is the range for this position?
What would it take to get to that higher level within that range?"
Remember you're looking for a way to reach a common accord and often you have
to ask a few questions to see if there might be a way to reach an
accommodation. In many cases, especially at this level, the person offering you
the position has already gotten approval from someone else, so you have to give
them a pretty good rationale to go back and ask for more money.
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