Salary Negotiation
Tips & Strategies
Many employers anticipate that you may negotiate an initial offer of employment.
While some industries or employers may only present a first and final offer, do not pass up the opportunity to ask questions or negotiate before you finalize your acceptance.
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- Can I negotiate this compensation package?
- Beyond the base pay, what benefits are negotiable?
- May I have additional time to consider this offer?
- Prepare your talking points (i.e. why you deserve a higher salary or additional benefits) and develop a salary and/or benefit range (low, middle, and high)
- Know your worth:
- Research the company’s hiring history to get a better idea of what the company typically offers others in a similar position
- Research the salary offered to see what others are earning in your industry and location with similar education, experience levels, and licenses/certifications.
- Salary calculators:
- NACE: https://www.jobsearchintelligence.com/salary-calculator-intro-etc
- PayScale: https://www.payscale.com/my/survey/choose
- O*Net Online: https://www.onetonline.org/
- Bureau of Labor Statistics: https://www.bls.gov/bls/blswage.htm
- Career One Stop: https://www.careeronestop.org/Toolkit/Wages/find-salary.aspx
- Guide Star (non-profit:) https://www.guidestar.org/
- com: https://www.salary.com/research/salary
- Glassdoor: https://www.glassdoor.com/
Look beyond salary. Review the entire benefits package offered or available:
- Company stock
- Healthcare (employer-paid and employee-paid) and other insurance options
- Bonuses for goals met
- Vacation days, paternity/maternity leave
- Professional development
- Tuition reimbursement
- Childcare reimbursement
- Flexibility in work schedule or work environment
- Relocation expenses
Do not ask for an unrealistic salary and/or benefits, as this can be a turnoff to your potential employer. Additionally, some employers may have a firm final offer without options to negotiate. Research the company, position type, industry, and location to ensure you have a reasonable expectation for a starting salary within the role.
Other things to consider:
- Organizational culture
- State of the economy
- Geographic considerations (cost-of-living)
- Who are you negotiating with?
Negotiating Professionally
- Practice makes perfect:
- Rehearse your request with the Center for Career & Professional Development
- You want to appear confident, yet polite and professional
- When delivering your request, provide a salary range that would allow for negotiation
- Ask for slightly more, with the anticipation that the counteroffer will likely be lower
- Make sure you are communicating clearly and concisely
- Once a final offer is accepted, it’s best to get this offer in writing, thank the employer for their time and express your eagerness to start working for the company
- Check out more information about negotiation on Big Interview http://tcu.biginterview.com
Accepting the Offer
Once you have formally accepted the offer, whether verbally or in writing, be sure to decline other prospective offers. Employers consider acceptance of the offer to indicate your commitment to starting employment with the organization. Some employers may require a background check or signed agreements to initiate the final steps in your recruitment process.