The idea of negotiating your starting salary may give you butterflies, but it’s likely you’ll have to do it at least once in the next few years. This is why we think you’ll appreciate the following recommendations:
1. Understand the job and the company
Learn everything about the responsibilities and expectations for the position, but also about the promotion and performance review and reward systems. Don’t be afraid to ask for information during the initial interview with the HR representative, although it comes in handy to search for some information about the company online as well.
2. Research average salary information
You may have friends working in the same field, or you can search on the Internet salary information for similar jobs in the same area. You can find such information on a number of websites, such as salary.com, indeed.com, glassdoor.com, or payscale.com.
3. Know your strengths
The first step in selling is to know the product or service. When you’re negotiating a salary you are negotiating payment for services. It’s vital that you know your strengths and that you are aware of your weaknesses and limitations. Think of the number of things which differentiate you from other candidates. Arm yourself with this information when going to a negotiation – you can even write it down to make sure you’re not forgetting anything.
3. Plan things in advance
When the negotiation session starts, you need to have a clear idea of a salary you want to make; think realistically, however – use information you’ve scooped online, think about the competition, about your strengths, and consider the amount you’ve made on your last job. You need to also decide what’s the lowest salary you are willing to accept for your services, and what you are going to do if you’re not offered at least that amount.
Ask a friend to take you through a mock negotiation process. Set up a scenario and do your best to convince him to offer you the amount you want. Take notes and ask him to take notes in order to improve your negotiation skills.
Most importantly, you need to keep your expectations realistic, and be aware of the fact that a manager will also usually try to find a competitive salary range for the candidates given their education, experience level, as well as their productivity.