When it comes to job hunting, few topics are more confusing than salary negotiation. When should you talk money? How much are your skills worth? Will negotiating hurt your chances of getting the job? How open should you be about your salary history? Here are all the answers you need to navigate a successful negotiation.
1. Do your homework
Before you decide on what salary to ask for, find out the going rate for the job and your experience level. Do some research to determine the current market rates, and what you would be happy accepting. Make sure you identify a range, and leave some room for negotiation depending on the offer the employer makes.
Research should also include learning as much as possible about the job and the company to which you’re applying.
The more you understand about the role you are interviewing for, how well you fit the position requirements, the number of candidates they are considering, the cost of living in the area if you will need to relocate, and what your skills are worth, the better you will be able to negotiate. Search for salary surveys, and use websites like Glassdoor
to learn what people think about the company and what candidates in similar positions at the company are earning.
2. Don’t accept the first offer!
Companies often have ranges and flexibility on how much they can pay for a given position. So, by accepting the first offer, you may be accepting a salary at the lower end of the range.
3. Be realistic
It’s wise to negotiate, but unwise to ask for a salary that’s way out of the ballpark. Candidates rarely lose an opportunity because they negotiate, however, being unreasonable or asking for significantly more than you have earned in a similar role in the past, could cause this to happen.
4. Act confident
You may not feel like you’re the best thing that ever happened to the company, but act like it anyway. It may help you get the salary you deserve. This mindset will help you to appear as a confident negotiator.
5. Timing is everything
One of the work mistakes a candidate can make is bringing up salary too early in the interview process. This can present the wrong impression to your potential future employer. Instead, focus initially on your skills and why you want to work for the business, and save salary negotiations for later in the process, unless the hiring manager brings it up first.
Though salary negotiations can be nerve-wracking, knowing how to handle them is half the battle.
A good recruitment consultant can make sure you are doing the right research and asking the right questions, not just to get the job, but to get the best offer.
Contact your Aerotek recruiter today for more advice on salary negotiation, or visit our job board to find your next opportunity.