Salary Negotiation
Negotiating Salary - oh I hate this part!! For many it is quite intimidating to try to negotiate a salary when you really want a job and don’t want to do anything to jeopardize the final stage of the hiring process.
Below are some things to consider that may be helpful.
Use your good judgement as every situation is different. (that was my disclaimer )
Most importantly, prepare in advance & develop a strategy for the negotiation.
Six things to consider:
1) Do your research
- understand your salary range in the industry (your area/location matters) Consider using www.salary.com • www.glassdoor.com • www.linkedin.com • www.workopolis.com (Canada) • www.jobbank.gc.ca (Canada)
2) Determine your needs/wants for total compensation in advance
- Know the $ figure you are after - go in with your highest "reasonable/researched/justifiable" ask–assuming they will come down
- it’s not just about salary - also consider other things like vacation time, training budget, travel budget, car allowance
- A signing bonus
3) When you receive the offer:
- First Thank them for the offer and communicate your excitement (see below for some potential language)
-You don’t have to commit right away – as you have not read the full offer
(Language for consideration)
“Thank you for the offer. I am very interested in the position. Would it be possible to send me the offer in writing including the links to the benefits and then could we then meet xxx day to address any further items, questions.”
Or
“I am pleased to be your candidate of choice. I am confident we are on the same page. Could you send me the offer in writing……. “
4) Make your proposal
- Consider something like this....."Based on my industry research, the role scope and the value I am confident I could drive, I was looking for a salary in the range of x – to x. Could we discuss an adjustment?"
NOTE: If you have already committed to a salary early in the process then then you have limited if not closed down your ability to negotiate salary. (Unless something significant has changed with regard to your understanding of the role scope – tread carefully)
5) What will you do if they say “no”
- Ask for the other non-monetary benefits (training, vacation etc)
- Put in a plan (together) to get you to the desired level in the future
- Consider asking for a signing bonus
6) Practice your pitch – Consider doing some role play
Every situation is different so the best you can do is research and prepare --and as best you can, know your audience and their willingness to have the conversation.
