Being able to negotiate salary is an essential part of the hiring process, and one which people often approach with trepidation. While being too pushy with your salary requests can be a red flag to potential employers, it is important to protect your financial livelihood and ensure that you’re being paid a fair price for your services and for the value you offer a prospective employer. There is no “right” way to negotiate salary, as every hiring process is different. Here are some things to keep in mind as you navigate the complicated world of the hiring process.
Industry standards
I wouldn’t ask for $30 an hour if interviewing for a retail job, just as I wouldn’t expect a C-Level position to come without a hefty benefits and compensation package. Part of your due diligence when applying for a position should include researching salary standards. Remember in your research, however, that you will not find a consistent salary for a given position. Websites vary widely on “average” salaries, so be sure to use a bit of common sense regarding geographical location, and type of company.
Economic stability
The stability of the economy in general, as well as in your particular sector, plays a role in what you can ask for. Do your research, but do be careful here. The economy is defined by fluctuations, but don’t undersell yourself because you think a company might not have the resources to pay you what you are worth. A certain amount of “sticking to your guns” will show just the kind of confidence they may be looking for. Also, do you really want to work for a company that is financially unstable?
Experience
This will be the largest factor in determining how much you can request in salary. A company may be willing to hire you with only an internship under your belt, but you probably will have to start at a low rate of pay, and won’t be able to negotiate as much as a person with several years’ experience. If you are newly entering the workforce, focus more on things like health benefits and a 401K plan than base pay, which most decent companies should provide without hesitation.
Remember as (or indeed, if) you negotiate salary, to be diplomatic in your approach. Unless your interviewer brings up salary, do not mention it in a first meeting. The first round of interviews is designed to get a feel for what you are like in person, and to see if you would be a good fit for a company. Even if you seem to have great rapport with your interviewer in your first meeting, no one is going to be setting up your direct deposit just yet! If and when you receive a job offer, you can start to get specific.
Use these Web sites as a guide to figuring out what you’re worth. Use common sense as you negotiate, but don’t compromise too much. Putting yourself on sale can come across as desperate, and won’t do you any favors in the long or short term.
http://www.payscale.com/research/US/City=Boston/Salary
http://www.salarymap.com/salary-survey-comparison/index.cfm/Principal/668
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