If there’s one potentially awkward and almost always nerve racking discussion people dread when looking for a job, this is it. So many unknowns…are they willing to negotiate and, if so, how much should I ask for? Will I look greedy if I ask for too much or will I look weak if I don’t ask for enough?Some experts say you should “always negotiate.” I’m weary of saying you should “always” do something because there are going to be cases when that’s definitely not going to be the case. For example, some companies in hyper-competitive industries spend a great deal of time benchmarking against their peers. As such, there’s not a lot of room to negotiate. Or, a company might come in with an offer that’s more than fair. In that case, I don’t know how you can look them in the eye and ask for thousands more just because you can.
When you receive an offer, the first thing you want to do is gather as much salary data as possible. But this is tricky as most people get a little squirrely talking about money. So, rule #1, “Don’t ask, don’t tell.” Don’t share specifics of your offer with someone you know at the company who is working in a similar position. And, on the flip side, don’t ask them what salary they started at when they joined the company. Instead, ask for a general range that one might expect given your education level and skill set. Chances are, this will get you a fairly accurate range.
Next, look at comps (salary levels for comparable positions). There are a ton of resources out there to assist you with gathering salary data. You can start by looking at job descriptions for similar positions posted on websites of some of their key competitors. You can also reference Salary.com, Monster.com, Vault.com, or the U.S. Department of Labor Bureau of Labor Statistics. Finally, check with your college or university career center. They can give you ranges for recent graduates and might also collect and make available aggregate salary information from their alumni.
Of course, the biggest piece of the salary discussion is your value proposition. And you can only know that if you have a firm grasp of what their needs are. Some job seekers miss the point and, for example, talk about their ability to speak a foreign language regardless of whether or not the company is looking for a bilingual candidate. Sure, it’s nice, but if that’s not a “must have” for them, they’re probably not going to be willing to pay a premium for it. Your value proposition will probably be a combination of education (additional training, advanced degrees, etc.), your work experience (transferrable skills or years of related experience), and a proven track record of success.
The key to the conversation is to ask, not demand. As long as you’ve done your homework and you present a well thought out rationale, you’ll be fine. Of course, that doesn’t mean you’ll always get the money you were asking for, but it usually never hurts to ask.
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