At the conclusion of every successful interview is the question regarding salary. Not everyone feels comfortable with the conversation and surprisingly enough just accepts what’s initially offered to them without any further discussion. Style and Travel Daily | Mark’s Resume Rewrite wants to offer a few helpful tips on how to negotiate the salary you prefer.
Let’s assume you have impressed the screener, the executive recruiter, HR Representative, a panel of your peers and finally the hiring manager. You’ve managed to research the company, it’s culture and hopefully what benefits are offered to employees. Now what? Do you dare change the tone of the conversation and discuss salary? Believe it or not, the ball is still in your court. You just have to know how to negotiate more than what they’re prepared to offer.
Confidence in your ability is everything. Without it, the hiring manager will sense your vulnerability and may take advantage of it. Now, that does not mean that they will out-slick you or do anything egregious. Let’s just say that sometimes you get not , because you ask not! He/she might have been prepared to offer more, but you didn’t ask for it. In our blog today we’ll make a few suggestions on how we think can prepare for the “old” salary negotiation.
1. Just the “Facts”
Prepare. Prepare. Prepare. This initial step is vitally important. Negotiations are fun and validating, especially when you’ve prepared properly. Your place of “strength” comes as you research and prepare your talking points. Make sure you are comfortable with the pay range associated with the position you’re pursuing. It is beyond awkward when you either ask for too little (when more was available); or too much and you price yourself out of the market. Reach out to friends or other professionals that might have access to the information you need so that your “ask” is consistent and appropriately within your industry range.
2. Make the “Pitch”
What have you done for me lately? While that is/was a popular song of the 90s, it still bears repeating. What are your transferable skills? What have you accomplished for your past employer(s) that have relevance to the position you are seeking? Highlight accomplishments that make you an attractive candidate. I usually tell my executive and sales clients to create a Brag Book. This book outlines projects, special initiatives, savings, increased revenues and corporate re-engineering. Now, is not the time to be modest. Be prepared to discuss your awards and recognitions. If you participated in a mentoring program of sorts, request a testimony from a former manager that can attest to your skills and talents.
3. It’s time for the “Ask”
A seasoned negotiator knows their range. That means, they know the ceiling and the floor; how much is too much and the least amount they’ll take for what they want. Likewise, make sure your request is reasonable. Be comfortable with the lowest salary you’ll accept as well as the highest amount you would prefer. Ask for more than what you really want and use that as your cushion in case that is the hiring manager’s limit. Be careful not to come across as greedy or too full of yourself; that will abruptly end an otherwise positive negotiation. Do not turn down the offer. If it is not your ideal figure, tell them you’ll need a day to think it over. Ending the conversation correctly might result in the hiring manager rethinking and increasing their offer to you. Beyond salary, are there other benefits the company offers that still makes it an attractive employer? If so, be willing to compromise slightly for the salary you will eventually make while you take advantage of perhaps their tuition reimbursement or on-site child care. Find out if the company provides annual cost of living adjustments, bonuses, stock options or generous retirement plan matching. There are a number of possibilities if you plan for all possible outcomes prior to the salary conversation.
There are a few possible approaches to consider outside of the tips offered in this article. Asking for the ideal salary is a daunting task! Connecting with the company that is a perfect fit could take some time, but in the end negotiating salary is designed to be win-win in nature. We want you to have the salary you prefer. Follow these simple tips, build your confidence and negotiate your salary!
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