You’ve been waiting by your phone and continually refreshing your email for days now, and finally you got the call – you’re been selected for the job! With the job market still so competitive, you might be too nervous or too excited and end up yelling, “Yes! I’ll take it!” without negotiating your compensation. Employers are expecting to negotiate with you, so don’t waste this opportunity. Here is some advice on how to effectively negotiate:
Do Your Research
First and most importantly, you need to do your research. Yes, this starts with figuring out what similar job titles compensate, but that’s just surface level. You should learn specific standards for your industry, skillsets, years of experience and location. Get started by talking with your network. Although connections might not be comfortable with sharing what they specifically make, they can give you a clue into what you can expect. Furthermore, check out other online resources for additional insight.
Remember that It’s Not All About Cash
Although a larger number on your paycheck would be nice, there are many other things to consider. For example, is the company giving you flexible work hours or potential to work from home? Other examples include, expensing allowances for travel or commuting, paid gym memberships and other wellness programs, 401K matching and vacation/personal time. Think beyond the paycheck and see if you can negotiate things like that to make your new position more rewarding all-around.
Mind Your Manners
Always, always, always mind your manners when negotiating, because you certainly attract more bees with honey than with vinegar. The employer is always more willing to negotiate with a person more if he/she feels you’re enthusiastic and grateful. On the flipside, remember that even if you feel the offer was unfair, you cannot be rude about it or the employer will quit negotiating and the offer might be rescinded.
Negotiating compensation is a nerve-wracking step in the job search, but if done correctly, you will be glad you put in the effort!
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