In today’s market, some job seekers have the upper hand. So, when companies do find the right person for the job, the hiring manager may be willing to go to extra lengths to ensure their offer is accepted.
With that in mind, candidates may want to consider negotiating for some extra compensation before accepting the first offer.
Robert Half Technology offers the following do’s and don’ts for negotiating salary:
1.) Don’t enter salary negotiations without doing your homework. Conduct research to determine your market value. Begin by reviewing industry reports and talking to colleagues and recruiters for insights on current trends.
2.) Do try to negotiate. Most employers understand – and even expect – professionals to negotiate compensation and benefits when offered a new position. Before you begin to negotiate, figure out what items are most important to you and be prepared to give on those issues that are less critical.
3.) Don’t be the first to bring up salary during the interview. Rather, wait until the hiring manager asks you about your salary requirements and be honest about desired pay. This is when you should reiterate the value you can bring to the firm.
4.) Do ask about the pay range for a position if salary requirements are requested.
5.) Don’t overlook the value of benefits. Evaluate the full compensation package, including benefits, perks and job growth opportunities. Remember that a job opportunity is about more than just money – it’s about job tasks and professional growth opportunities, among other factors. It is essential to weigh all aspects of the offer.
6.) Do get it in writing. Once you’ve agreed on terms, ask the employer to draw up a letter that outlines the specifics of the offer, such as the salary and any special arrangements that resulted from the negotiations. Having everything in writing will prevent misunderstandings down the line.
7.) Don’t let salary negotiations turn negative or burn bridges. Regardless of how the negotiations turn out, be professional and courteous. You never know when you might cross paths with the hiring manager again.
8.) Do make it less intimidating. You may not look forward to the salary negotiation process, but you can make it less intimidating. With professionalism and preparation, you can set the stage for positive discussions and reach a deal that is fair to both you and the employer.