Salary negotiation is an intimidating process for most people. Many job seekers fear losing a job opportunity for asking too much, and even regular employees have a hard time asking out of fear of rejection or losing their jobs. However, recent studies have found that the typical losses for an individual career amount to hundreds of thousands of dollars when people skip out on negotiation.
Fortunately, salary negotiation is not as risky as you think, as many businesses are open to it. It just requires a little preparation. Here are some salary negotiation tips from professional resume writers who know what your managers are looking for.
Research and Practice
In order to negotiate with confidence, you have to know what you are doing! Take some time before the negotiation to thoroughly research typical pay in your target field. Go over your accomplishments and qualifications. How much value can you add by being hired? These are all things that professional resume writers recommend for a strong resume anyway, so you can tie them in with pay ranges in your research.
When you have a good idea of what to ask for, you need to prepare yourself and practice. Think about our salary negotiation tips and plan your strategy for the interview. Practice speaking with a friend or family member so you can habituate yourself to the conversation, and increase your confidence for the interview.
In The Interview
The following are some salary negotiation tips for the interview process itself.
1. In an interview it helps to know that you can take your time. Spend the initial time selling yourself, and stress your qualifications, accomplishments, and potential value to the business in question. Stay calm and don’t stress about your salary.
2. Wait for an offer to begin your negotiations. If the offer is lower than your estimates, you know that you can push upwards. If you make an offer yourself, you may give away your position and miss out on a better deal. You’ll also have the added confidence that the company is interested in your talents.
3. If you’re unhappy with the offer, or you’re not excited about the job position, you may want to sit on the offer and wait to give a decision. It may result in a better offer if the company wants you.
4. If your interviewer keeps pushing for salary expectations, you can always give a ballpark number you found in your research, if it is to your satisfaction.
5. Don’t forget that there are other perks involved in the salary negotiation process. Bonuses, vacation time, company cars, offices, benefits, and other perks are up for grabs in the negotiation process too.
Call a Professional
These salary negotiation tips are from professionals who know how to get results. Keep our tips in mind and practice them. You’re sure to get a better offer than if you never tried at all.
If you’d like additional help with salary negotiation, or you’d like a more robust edge on your career pursuits, Resume Pundits can help. Our professional resume writers can help you put together a winning resume, and we have cover letter writing services and other useful tools as well. Reach out to us today and we’ll get you started.