7 enticing tips for recent grads to negotiate salary like nobody else was originally published on College Recruiter.
Show Me The Money card with sky background. Photo courtesy of Shutterstock.
Searching for work can be a daunting task at the best of times. It can be even more difficult if you are looking for work in a niche area. It is possible that in the excitement of obtaining a job you forget the last, most important obstacle. Your salary! This is the main reason for working and the reason you have been studying hard for so many years. It may seem rude or ungrateful to negotiate your salary when you have not even started the job yet; in fact this is one of the best opportunities to go through this process.
The majority of bosses will have more respect for you if you negotiate on your salary. The following tips will ensure you remain professional:
1. Do you know how worthy you are in spite of your lack of experience?
This may seem harder because you have not yet worked for the company. However, you have built up many life experiences and have a qualification relevant to the field into which you are starting work. Internships and any involvement in campus projects are a valid basis for negotiation. It is also essential to know what other professionals in similar positions are being paid. Alongside this, it can be a useful exercise to know what your cost of living expenses are and what money you need just to survive. These facts and figures can be used in the negotiation process.
2. Hunt for a salary package, not just for a salary
Most companies offer more than just a yearly wage. There may be health plans included; annual bonuses or even help towards future qualifications. The benefits available must be taken into consideration when negotiating a pay rise; they can be far more valuable than an increase in money alone. It is also possible to negotiate an early review which would allow the possibility of increasing your wage sooner.
3. Know your strengths
A process which can affirm your worth, both to yourself and to your new boss is to consider the essential qualities and skills needed for the role. Then, pair these skills up with your own skill set. This data can be presented in a negotiation meeting to confirm why you justify a higher salary; the more you are worth to an employer the more they will be willing to pay you.
4. Practice your speech
It is essential to practice your pitch before engaging in any negotiations. Research will allow you to present a strong case justifying the salary you would like. The way you present this case is critical to obtaining it. By practicing, either to yourself; a friend or via a career coach you will be able to engage in a smooth, non-emotional negotiation.
5. Don’t be afraid to ask for some extra time to think
It can always be a good idea to request extra time to review a proposal. Should you choose to accept a job offer immediately you will not have had any time in which to assess the options or negotiate the conditions. This process is common and an employer will not object to giving you a few days to ensure you are happy with all details of the offer. Equally, this will provide the opportunity to ensure you are fully aware of all their terms of business.
6. Negotiate to your advantage and agree to a productive offer
The field you are intending on working in will affect the type of offer you get. Some industries, such as acting or glamour modeling will have so many people trying to break into the scene that it can be advantageous to take any offer going. Negotiation and salary improvements will come later, once you have proved yourself.
7. Ask professionally
If you demand a pay rise you will probably come across as arrogant and the negotiations will be likely to fail. If you ask, by phrasing your argument as a question then research has shown you are more likely to receive a positive response. Honesty can be the best policy in these situations. Simply tell your new boss why the current offer is unsatisfactory and allow them to sort it out.
By Christopher Austin and TheGapPartnership.com!