Salary negotiation is one of the last but most critical parts of the interview process. While most candidates understand the importance, many are underprepared or unwilling to negotiate an initial offer.
Candidates commonly struggle with the challenge of wanting a salary that aligns with their skills and experience without jeopardizing the job offer by aiming too high.
Using these five salary negotiation tips can help you reach your salary goals and get a better offer in your next role:
1. Research The Industry Average
Research average salaries for the position you are interviewing. Make sure to take into account the level of seniority, your experience, and the industry. Some industries, like finance, pay considerably more than others for the same role. The more experience the role requires, the more opportunity there is for negotiation, too. As the salary increases, the amount that you can negotiate increases.
2. Bring it up at the Right Time
Nothing hurts a negotiation like discussing salary in a job interview at the wrong time. Wait until you have been offered a job to discuss the subject and resist the temptation to throw out a number first. If the employer asks what your expectations are, say that you are open minded but expect compensation that is in line with the level of the position and industry standards.
3. Have a Reason and Have Data
There has to be a reason for your counteroffer. Often, this will be that the industry average suggests you deserve more. But it might not always be the case. It may be that you are providing additional value to the role and you deserve adequate compensation. Whatever your reason, make sure you have the data to back up your request.
4. Negotiate Other Benefits Instead
If the employer says the initial base salary is final, see if you can negotiate other benefits. Instead, request additional employee perks such as better health insurance, more vacation allowance, a subsidized gym membership, or the ability to work from home. These kind of perks are often much more cost-effective for companies to provide and can have a significant impact on company culture and employee well-being.
Learn More: Evaluating Company Culture: Why It Matters When Evaluating a Job Offer
5. Feel Free to Say No
Sometimes walking away from an offer can often result in a recruiter countering their previous offer with a higher salary or additional benefits. If you choose to say no to an offer, make sure you’re positive you want to turn down the job at first. Companies can and will call your bluff and you shouldn’t use this tactic if your financial wellbeing depends upon you getting this job.
Negotiating a great salary starts with finding the perfect role for you. Sparks Group, a staffing and recruiting firm, specializes in providing guidance and assistance for both companies and job seekers looking to grow their business and advance their careers.
Sparks Group’s team of staffing experts matches employees with the perfect role in their industry by taking the time to understand a candidate’s experience, needs, goals, and career path. Our team works with you throughout your job search to provide guidance and expertise on everything from resumes to the interview process and salary negotiation.
Visit our job board for a list of available IT, accounting, finance, creative, and administrative positions at leading companies or connect with a Sparks Group staffing and recruiting expert for guidance and assistance on your next career move.