It’s Time to Have “The Talk”
                         Preparing for Salary Negotiation

It’s time to get real and start talking salary…with future potential employers that is.  The salary discussion can sometimes be the most uncomfortable and difficult part of the interview process.  However, the good news is that it doesn’t have to be!  With proper research, you can have a confident and successful discussion that leads to a win for both parties, i.e. you and your future employer. So before you go off the deep end and potentially put your foot your mouth in terms of compensation, check out our tips.

Putting a price tag on your talent

Before you march into an interview with a guesstimate of what you think you’re worth, actually take some time beforehand to research the average compensation for your industry, experience level and area you reside.  There are a number of online salary survey resources to provide you with a plethora of salary ranges based on skill, industry, position and location.  (One of our personal favorites is www.cbsalary.com)  When reviewing your job title on these sites, be sure to pay attention to the job description, as titles and positions can vary based on organization.  Also, be sure to put the appropriate geographic location as this will affect the results as well.

What affects your worth

Just like how fixing up your kitchen can affect the worth/value of your home, certain skills and traits can affect your worth as a professional to companies.  Such things include specific industry skills, experience level and education.  There are also a few additional factors that can affect your compensation level, and those include geographic location, the industry you desire to work in, the organization’s size and financial status and your potential direct report.  Keep these parameters in mind when researching salaries to help give you a realistic starting salary range to leverage in your negotiation.

Timing is everything

Compensation is an important piece of the puzzle when it comes to finding the right job.  However, it’s a delicate subject, and bringing it up early on in the interview process can give the employer the illusion that money is the only important factor to you and that you are not truly concerned with the overall bottom line of their company.  Proper business etiquette encourages candidates to wait until the interviewer brings it up first, which will usually occur in the second or third interview.  And don’t worry, they will bring it up; just give it time.

Think big picture

When negotiating compensation, don’t be shortsighted and only think about salary; you have to think bigger!  It’s important to always keep the entire compensation package in mind.  A good compensation package should include salary, benefits, 401(k), personal time off, life insurance, working conditions and any additional perks the organization is able to provide. The overall package can also help to compensate for areas that are less than enticing, i.e. pay.  Believe us when we say that good all-encompassing compensation packages will ensure long-term happiness at an organization.

Now that you have the fuel to back up your conversation, you can confidently walk into your interview with a SHOW ME THE MONEY attitude!  Go negotiate!