Applicant Salary Negotiation Tips

Talking about money is tough. Even the boldest people find themselves at a loss when asking for more money. Employees sometimes work years at an establishment without ever requesting a raise. So imagine how difficult this seems to someone who doesn’t even have a job yet!

Follow these steps to come out ahead:

1.Get your act together. In other words, make sure you are the best candidate you can be. Your career, credentials, resume and cover letter must speak volumes.

2.Know your playing field. Research salaries so that you know a realistic offer from an unreasonable one. Check out Salary.com, CareerInfoNet.org or Jobstar.org for more detailed salary profiles.

3.Know what you are worth. Take time to get clear on this prickly point.

4.Understand that salaries differ based on the:

Position
Company
Industry
Region of country

5.Ask for advice. Seek out mentors and trusted professionals who can help you get a clear and accurate perspective.

6.Keep quiet. That’s right—once you learn what you should get, don’t mention it during the interview. That’s because employers often offer more than interviewees have the nerve to ask for.

7.At the same time, don’t think the employer is the one driving the salary negotiations. To be a successful ---, it needs to be win-win.

8.Don’t negotiate over the telephone. Period.

9.Never answer a salary question on your resume or in your cover letter. Period.

10.Don’t play hard to get. It’s a silly game than can cost you the job!

11.Stall. If the interviewer asks you your salary requirements, say you need to know more about the position. Or that would like to know first about the overall benefits package. Besides, if you wait until you have an offer, you’ll have more confidence behind your negotiations. Industry reports show that more than half the first salaries offered are negotiable. And according to SHRM (Society for Human Resource Management), four out of five corporate recruiters are willing to negotiate compensation.

12.Offer a salary range based on fair market value if pressed for an answer. Or put a question back at the recruiter: “Do you have a range in mind for this position?

13.Need more money? Once you have an offer, or once the topic is broached by the recruiter, offer your carefully thought-out reasons for why you deserve more. Your skills, job performance, proven results and specific examples of how you will address their challenges will help you make your case.

14.Don’t despair if the salary is not negotiable. Often, other elements of the compensation package are. For example, many employers have transitioned from the traditional Vacation/Sick/Holiday model to a “Personal Days” model. If the company interviewing you has made this change, this might be even more valuable than more money. Personal Days are generic, allowing you to use them as you wish for sick children, mental health, vacation, sick leave, etc. =

Vacation days
Sick leave
Holidays
Moving expenses
Tuition reimbursement
Stock options
Profit sharing
Career advancement potential

15. Get it in writing. Once you’ve agreed on a benefits package and accepted the offer, ask the recruiter when you can expect the letter and request a few days to review it. Once you sign the letter, the deal is struck. Don’t ask for more.
Knowledge is everything in salary negotiations. Do your homework so that you enter the negotiations with confidence—and leave with more than you hoped for.