Salary can be a very touchy subject when it comes to negotiating a job offer. It’s an issue that can cause candidates to walk away, force employers to spurn one candidate in favor of another who will work for less, and make for tense dialogue between an employer and a would-be employee. Many job seekers are uneasy talking about their salary history with prospective employers. Divulging salary information first can often put you at a disadvantage, but you may have no choice. Potential employers may require a salary history before even considering you as a candidate. In this case it is helpful to know, ” Why do some companies ask job applicants for a salary history?”
The answers are fairly simple and they even make sense.
Requesting a salary history may just be a part of the employer’s screening process. It is their policy with every job applicant and that includes you. Give them the history, get in there and set the hook, get the offer, and then be a good negotiator.
Now, while that is a perfectly reasonable answer, there is one that is even better. As an applicant, you are a “business of one” and you are selling your services. With that in mind, would you buy from a business that, when you asked how much the product cost, responded with “We are not going to tell you until you buy?” In order to “make the sale” to your potential employers you need to name your price.
Your best course is always to do your homework before going into a negotiation. If you know what you are talking about, then you are more likely to get what you want, even if you have already given a salary history to your potential employers.
Negotiating salary is a scary proposition for some people.It’s also quite difficult if you are rusty on your negotiation skills. I’ve put together a few tips for helping you get through the process with less sweat and more leverage. Step 1:Don’t discuss salary until the employer makes an offer
A good rule of thumb is to refrain from mentioning salary expectations in your resume. If the the ad you are responding to requests past salaries as some do, then comply. Otherwise, don’t bring up salary at all. If asked during the interview, try to avoid the question. Respond in a manner such as:
“If you decide I’m right for the position, then I’m sure you’ll pay a fair and competitive rate, right?”
“I’d love to discuss salary with you, but before we get to that, I’d like to know more about the position. Tell me more about ______.”
“Is this a formal offer?”
“The going salary range for that level of responsibility is between _______________ and _______________. You pay in that range, correct?”
Step 2:Allow the interview to make the offer
She who speaks first loses. In salary negotiations, the first figure mentioned is the starting point. You don’t want to sell yourself short. Let the interviewer make the offer and you go from there. That way, if the salary they offer is way off base and you don’t see any way to meet in the middle, then you can gracefully bow out. Step 3:Do the research
Don’t negotiate in the blind. After your potential employer makes an offer, do a little research to determine the going salary range for your level of skill and experience. Check a variety of sources for the sake of comparison or you could end up getting less than you deserve.
One useful source of information is the U.S. Department of Labor (Bureau of Labor Statistics). They publish annual salary data by occupation.
You can also perform a Google search to find other salary information online. Be aware that salaries can vary according to location and whether or not will be employed in the public or private sector or in a profit or non-profit organization.
Step 4:Let negotiations begin
You want to get the highest salary possible. Your employer wants to pay the lowest amount to increase their bottom line. You should strive to be fair while maximizing your own value.
Determine your value to your company and make an offer based on that. Step 5:Close the deal and keep negotiating
Your salary is only one component of the negotiating process. You can also negotiate perks and benefits such leave time, profit sharing, bonuses, etc.
There seems to be a rule of thumb out there that if you land a job you should always try to negotiate for more money as a matter of course. If you’ve done your homework and realize that the salary offer is too low for your level of education and experience, you should at least try to negotiate a higher salary. However, negotiating your salary just because you think you should can hurt you in a number of ways. Contract positions are usually set at a certain rate and are only sometimes negotiable. If you try to negotiate a contract job offer, chances are that you delay many onboarding tasks such as drug screening, background and references checks and getting signed up for benefits. You may also find that the employer still expects you to start on the original date stated in the offer, leaving you scrambling to comply. If you can negotiate your salary higher for other types of positions, you may leave yourself vulnerable to layoff if your salary is higher than your peers’. Your salary may be the first on the cutting block when it is time for your employer to make budgetary cuts. Negotiating a salary higher than what you originally stated you would be willing to take may make a potential employer think that you did not do your salary homework or are trying to get more money just because you think you can. This does not leave the employer with a good impression of you. Of course, you could prevent yourself from being boxed into a corner like this by not giving a specific dollar amount answer to the question, “What are your salary expectations?” If hard-pressed by an interviewer, give a wide salary range because this question is often used as criteria to weed out a large candidate pool.
Many companies require prospective employees to complete a job application form when you get to the interview. These documents are fairly easy to fill out, but there are some things you need to be aware of. The application has two common areas, your personal information, which is basically a repetition of your resume and questions that assist the interviewer in determining if you are a good fit for the position. It may seem redundant to document your name, address, and employment history when it is already available on your resume, but it gives the employer additional insight. It allows the person you are interviewing with to compare the information you have stated on your resume with everything you state on your application. Any inconsistencies are subject to further investigation, either in an interview setting or with phone calls to past employers and/or educational institutions. Be honest and concise when answering the questions. Answer specifically what was asked and do not offer additional information. One reason to steer clear from providing additional information is that employers are looking to see if you can follow directions. Another reason is that you don’t want to provide everything the employer is wanting to know about you at one time. Do not put “see resume” on the application because it shows you do not follow directions. The purpose of a job application form is to identify the job for which you are applying and the salary you expect. One of the best ways to handle this question is to do your research on the company before you ever get to the interview. If you don’t have an ad to work from, find out what jobs are available before you walk in the door or send your resume in. Make phone calls. The second question requires the same legwork as the first question. Know what the position typically pays. You should have a general idea what employers in your area and in your field are currently paying for employees who do the work you expect to do. In addition to this, think about what you are willing to accept as a minimum salary. Sometimes it’s good to list a range on the application rather than a specific figure. Finally, consider what the opportunities are for advancement and what the benefits package involves. These are also major aspects of a career that cannot be overlooked. Although a benefits package doesn’t offer a dollar benefit that you can easily identify with, there is a significant amount of money the employer is paying for your insurance. A solid career advancement plan is simply delayed earnings potential.
Application forms are commonly used in many industries and companies ranging from very small family operations to large multi-million dollar corporations. Do what needs to be done in order to assure yourself an opportunity to get a face-to-face meeting. Get your foot in the door. Get the interview. It is worth filling out another piece of paper, no matter how closely it resembles your resume if it means you might get the perfect job.
The number one dreaded question during the interview process is “what salary requirements are you expecting.” This question alone can either make or break the interview. Not only that, it tends to make a lot of interviewees freeze up and say the wrong things.
It is very easy to under or oversell yourself. If you are afraid of stating too much, chances are you will undersell yourself and make less than you were anticipating. After all, companies use this question to feel their applicants out. And, of course, if they can get you for a lower wage, they will.
It’s not going to go well if you ask for too much income. For instance, you can’t possibly expect to hire on as customer service but expect to be paid $20 or more an hour. Just won’t happen.
Interview process protocol dictates that you should never bring the subject of salary up yourself. Wait until they do. You only address it when the potential employer brings it up.
A good answer is that you are negotiable. That way, the both of you can meet in the middle somewhere with their requirements. At this point, you need to make sure what salary you can budget for with your personal expenses.
A good idea is to do research for the type of position you are applying for and see what the going rate for certain positions are. You don’t want to be out of the ballpark by asking for too much income when the trend is lower for the same position. It’s all about negotiation. You may not get exactly what you want as far as wage goes, but you may also be offered a different position that offers more after they evaluate your skills. So, remember, don’t blow it by over or underselling yourself.
Believe it or not, there are actually some people who just have the knack for getting fired (I bet you can name a couple of people like that yourself!). Alternatively, there are others who never get fired. What is the difference between the two and which type are you? Companies today want to grow and they can’t do that if they have some people who are making it harder. So, they will get rid of them and replace them with those who bring something to the table and will help that company grow. There are certain types that companies will fire. They include:
The Naysayer – these types will always find a reason not to make a change, whether it’s for the better or not. They like the old phrase “if it ain’t broke, don’t fix it.”. Unfortunately, many past businesses thought like this, but they are no longer in business.
The Whiner – This type will always complain about a new duty or an overall office change. They are the ones who can breed discontent in the workplace by making statements such as “I don’t get paid enough to do that.” Ugh. The whiner will always be a negative in the workplace.
The Grouch – This person will know everything there is to know, know how to do it better, and try to tell everyone in the company how to do it better than they can themselves, even if it’s not in their area of expertise. They know how to do it all, just ask them.
Any of the above personality types will get fired eventually. They can take a company down pretty fast. If you are one of these types, change your attitude at work to one who is willing to go above and beyond the call of duty, be willing to make changes in the workplace, work overtime if necessary, just to name a few.
The economic times call for all employees to do what they can to help a business survive. The business, in turn, will keep working you so that you have money to put food on the table.
How To Negotiate The Salary You Want During A Job Interview
You have accepted a job offer knowing that the salary is not as much as you were hoping or needing. But you need the job, thinking that you will get raises. What if you don’t? And to top it off, the next person they hire for the same type of work just a few weeks later is making quite a bit more. What happened?
You need to negotiate in the beginning to get the salary you want, or else you just may be stuck, just like you are. It’s not as hard once you get the hang of it. If the company just will not negotiate, you still have a shot and at least know you tried.
One important thing to remember is that the company is going to try to go with a wage or salary as low as possible. You want more and they want less. This is the basis of negotiation. Be confident in what you bring to the table and how your expertise will help the company. That will be your focus in negotiations.
Remember that it is give and take. It’s almost like bartering for an item (garage sales, eBay!). You eventually meet in the middle. So, recognize that you may have to agree to something that is still less than you want but more than was originally offered. This will be a positive bargain for you.
Make sure you are flexible. If the company thinks you are being too constrictive, they will back out. Be sure to watch the body language and you will be able to tell if they are listening to you or are backing up.
The first couple of times may be nerve wracking but once you get used to the process, you will be able to negotiate like the pros. You never know, you just might get what you want.
Tips for Putting Salary Requirements on your Cover Letter
You have just seen a posting for a job that you really, really want. Your resume is ready to be emailed, you just need to fine-tune your cover letter and hit “send”. One thing is holding you up…this job is asking YOU to communicate your salary requirements. Exactly how are you going to do that? No need to worry-we offer a few tips to get you on the right track.
• Look at the job title and description of qualifications/requirements. First, do you meet all of the requirements they are asking for? Even if you only have a portion of the qualifications listed in the job description, as long as you have the majority of them, you should still apply for the job.
• Research similar positions that are out there and see what salary ranges are being offered. There are hundreds of job sites (glassdoor.com is a good one) on the internet that post salary ranges for specific positions, and some will even show what those positions make in different geographic areas. If you are able to get compensation information, that would help you as well.
• What are you making at your current job? If you are making $55,000 per year now, it wouldn’t look good to demand $85,000 for the same type of position (unless the new position has more requirements and/or is a managerial role). Yes, you will want to up the ante from what you are making, but you still need to be realistic.
• If the salary range is not listed on the job posting, contact the employer and ask what the range is. If you have a lot of experience, put your salary requirements toward the top of the range. If you are basically new to the field or only have a few years of experience, go mid-range or a little lower. You can always move up the scale once you get your foot in the door and show them what you can do.
• Never list your salary requirements at the beginning of your cover letter! Draw them in with your qualifications and achievements, then end with your salary requirements.
• Once you have done all of your research and have established the salary requirements you’re going to ask for, list those requirements, as well as the compensation package in your current position toward the bottom of your cover letter. You can even let them know that you are willing to negotiate based on your qualifications, benefit structure, job responsibilities, and advancement opportunities.
If you do land an interview, revisit your facts and research and be prepared to discuss your salary requirements during the interview. While communicating your salary requirements may seem awkward at first, presenting your information in a professional manner based on facts and research will impress the employer and hopefully get you the job you are trying for.
