Seven Steps to Achieving Your Desired Salary

Congratulations! You impressed during the telephone screening interview.  You killed it during each stage of your in-person interviews. Now, you’ve received that coveted job offer.  YES! So, what now? Like, many job seekers, you spent countless hours preparing for your interview.  You studied the different types of interviews; the types of questions asked during each; and the objectives of each type of interview.   Sure, we fantasize about our new salary and what we’ll be able to accomplish with that additional money…but that is too often where the consideration stops. Too many candidates of choice fail to negotiate their salary when they receive a new job offer. To top it off, research shows that we women are even more unlikely to negotiate for what they’re worth.

We all likely agree that the salary negotiation process can be a nerve-racking process.  We’ve come this far in the selection process and could be only a couple more conversations away from our dream job. So needless to say, we don’t want to do anything to offend our potential new employer.  We definitely don’t want to appear unreasonable in any way and we don’t want them to rescind that conditional verbal offer.

As good-mannered as your thought process may be, you still need to pay your bills and you will still be expected to produce…no matter your salary.  We must stop selling ourselves short.  So, why not find a way to respectfully request your dream salary for doing your dream job? When it’s time to negotiate your salary for your next new job, do your future a big favor and follow these guidelines to score the best salary possible for the knowledge, skills, and abilities that you bring to the table.

1. When the interviewer asks you what your salary expectations are for the position, provide a range.  My customary practice is to provide a $10K range.  It automatically builds in negotiation room for you.  The lower end of my requested salary range is a couple thousand dollars above the private-sector, for profit’s lowest salary data that is available to me.  I then spread my range out by $10K.  Early in my career, I missed the opportunity to make a higher salary because I gave a specific dollar amount during the interview vs a range.  So when the recruiter called to offer me the position and I attempted to negotiate a higher salary, he reminded me of the specific salary amount that I had given during my interview.  Then he dug his heels in and would not budge.  I was subsequently forced to accept the lower salary, but later learned that I could have gotten at least $3K more.  This is why my mission is to help others achieved their career goals and the best possible salary.
2. Know what your knowledge, skills, and abilities are worth. It is imperative that you do your homework.  If your potential new employer thinks that you are pulling numbers out of the sky, they will be much less likely to try and meet your request.  Ask a compensation analyst at your current employer for salary information for the position that you are considering. I wouldn’t recommend telling them that you are considering a job offer. Just tell them that you’re curious about the market value. See if they’ll provide the minimum, midpoint, and maximum figures.  Also, consider that different industries and sectors often pay differently, with the public sector at the city, county, and state levels usually being the lowest. Also, reach out to your LinkedIn contacts and ask them if anyone can provide you with salary information on your position of interest. Finally, check out glassdoor.com; monster.com, careerbuilder.com; and indeed.com to see what salary figures you get there.
3. Do not accept the first offer that the employer offers to you. Remember, the employer’s goal is to get the best value for their investment…and yes, you are an investment. They almost never make their best offer right out of the gate.  Even if there are only a couple more thousand dollars left in their budget for your position, try and get it.  Live by my Mom’s motto, “Ask.  The answer can only be yes or no.” One thing is for certain if you don’t ask, you won’t get. So, let’s get our negotiations started.
4. Focus on what you bring to the table. Don’t be afraid to confidently state why you deserve the salary that you are requesting. If asked why you think you should earn such a salary, be prepared to justify your worth.  Remind them why they offered you the position in the first place. You will be able to resolve their most pressing business challenge. To an employer, that alone is worth its weight in gold.
5. Consider more than your base salary. While your base salary is what most people look to pay the bills, it should not be your entire focus.  You should negotiate your total compensation package instead. This should include leave time; the cost of health and welfare benefits for you and your family;  your employer’s pension or retirement program and any matches that they offer; the length of service to full vesting; professional development opportunities: educational incentives; bonuses: merit increases; car and housing allowances; available voluntary benefits; whether you’ll be able to take your healthcare benefits into retirement, etc.. While this may not be an exhaustive list, you will be off to an unbelievably great start to making an informed salary decision. I would also search the position title on Indeed.com to see if any vacancies are posted with salary information.
6. Will you have to relocate? If so, consider the cost of living in your new city. For instance, my former manager relocated three years ago from Atlanta to New York. When she traveled there for her interview, she spent a couple of additional days there researching the cost of housing (apartments) since she already owns a home in metro Atlanta that she did not want to sell.  She was stunned by the small rentals she could afford in New York for twice her monthly mortgage. Guess what? She factored a percentage of that into her salary request and got what she asked for.
7. Last, but not least, get it in writing and sign the offer letter and return a signed copy to the HR representative as soon as possible. Don’t take anything for granted.

Remember, you are not afraid of a little hard work. That is what has helped you to get to this point in your career.  Tolerating a little nervous energy and a couple of additional days of negotiating on the front end can be your best friends. So, act as the project lead in your next salary negotiation process and your due diligence will pay off in your favor.

For more career search, human resources and motivational tips, visit HR by Nnamtique often.

Success to you. Go get your new job!