|
Negotiating Salary & Benefits
This handout is designed to give you some basic information about negotiating salaries and benefits as part of your job search. For additional information, please refer to the list of web sites, or talk to a career counselor.
What do I need to know in order to negotiate a salary?
- Prepare a budget to determine your financial needs
- Decide, BEFORE YOU GO INTO AN INTERVIEW, what salary you WANT to earn, what you NEED to live on and what you will be willing to SETTLE FOR
- Be realistic: entry level salaries are less negotiable than salaries for mid-level or executive positions
- Practice your salary negotiation skills with a friend, or during a Career Services mock interview session
- Document your skills and accomplishments, and be prepared to talk about them
- Don't be the first to mention salary during the interview, and use the negotiating tips listed below when the topic does come up
- Never say "I need at least _______ dollars"
- Don't worry about what your friends are making, the employer certainly isn't
- Never lie about your salary history
- Relax, it's natural to feel embarrassed or uncomfortable discussing salary
- Once you have accepted a job offer and salary level, be sure to get it in writing
How can I find out the market rate salary range?
- Use job listings which indicate salaries for related positions
- Ask your friends and networking contacts
- Call employment agencies or executive search firms
- Contact professional associations
- Talk to other job seekers
- Review business and trade periodicals
- Check out the on-line salary surveys through JobSmart
Are salaries really negotiable?
Yes, and no. The degree to which a salary is negotiable depends on the position, the manager, the organization, and your perceived value. Most entry-level positions have set salaries that are subject to very little if any negotiation--perhaps a few hundred dollars of negotiation room. Mid-level positions typically have salary ranges of between 10 and 20 percent (i.e., a job paying $30,000 a year may have a salary range between $27,000 and $33,000).
Employers will negotiate within the range, but will rarely exceed it unless you are an exceptional candidate. Most state and federal government jobs have rigid, non-negotiable salary scales based on education and experience. In general, the higher level management and executive positions offer the greatest opportunities for negotiation.
For more information on salary negotiation visit the following web sites:
Salary.com---Detailed salary ranges based on job field, zip code, and position.
SalaryExpert.com---Mean salaries based on position and zip code plus corresponding "buying power" figures based on an area's cost of living.
Wageweb.com---Salary ranges for more than 170 positions, based on information from hundreds of companies.
Homefair.com---Cost of living index; relocation information.
ERI's Career Salary and Cost of Living Calculators---Plan your career goals and get a free estimate of the cost of living for a particular area as well as the amount of salary that can be expected in the future for a particular job/position.
|
