We’ve all been there. We just had our first interview and apparently we impressed our potential employer with our skills, enthusiasm, and credentials. Now, the company is calling you back for a second interview, and it looks like there’s a big chance you’re going to get hired. There’s just one catch. The salary that the company is offering is just a little too low than what you’ve banked on.
What do you do now?
When we come across a scenario such as this, many of us act differently. Some of us shake hands, and accept the salary, hoping for a raise in the future, while others do the more sensible thing – negotiate. Indeed it can be daunting to try and negotiate a higher rate without ruining your chances of getting the position. However, it can be done. Below are some essential tips towards getting a higher salary than what you are offered.
Do The Research
There are three points you need to consider when conducting your research. First, check how much other workers in a similar rank as yours are earning on the average. It would be better to find companies that are the same as the one you are applying to and research on how much they compensate their workers for the same position.
Second, understand benchmarking. Get as much information as you can about the pay scale of the company who is hiring you. Learn that if it is company practice to hire from within, you may need to accept an entry-level position despite your credentials.
Third, determine what is the lowest salary you could possibly accept. You wouldn’t want to waste your time, as well as the employer’s, if the company cannot meet your salary expectations.
Don’t Reveal Your Salary Expectations
It is a good idea to leave the salary expectation question blank on your application letter. There are two things that could possibly happen if you do. First is that the figure you put in might be too high than what the employer is willing to consider, which leaves you application already in the dust bin even before you get an interview.
Second, you wouldn’t want to lock yourself in to a lower rate when the company’s budget is more than what you asked for. Make sure to get the company’s interest first before discussing anything about the salary.
Know Your Value
One thing that job applicants need to know is their worth. If you’re in demand elsewhere, then it would be a good idea to draw attention to it. However, you should also be careful not to emphasize it too much by acting overly confident or cocky. This could turn off your potential employer. Let them know that you have interviews with other companies, but don’t push the issue too far.
Don’t Bring Up The Salary Issue First
There’s an age-old adage that goes “The first person to bring up money, loses.” And indeed this rings true when negotiating for a higher salary. Initiating a conversation about the salary prematurely will make you appear as if you don’t care about the company, and that the only thing you do care about is the dollar. On the other hand, if the employer brings up the subject first, you can always steer the conversation away until you have demonstrated your credentials and qualifications.
Negotiate Other Perks
Sometimes the company you’re applying for just may not have the budget to increase your salary. When this happens, it’s ok to be flexible. This is especially true when you really want the job. Consider agreeing to the starting salary that the company is offering you, but negotiate different non cash perks instead.
Aside from that, openly discuss with your employer about specific and measurable results that would improve the company while increasing your earnings. Make sure to get any incentive pay agreements in writing even during the hiring stage. This will ensure that your employer is committed to following through when the time comes.
Statements To Say During the Hiring Stage
Some tips may sound simple and easy to follow, but when the interview process begins we often find ourselves at a loss for words. Below are some questions and statements that could help:
- “I’m going to need more information” – If the employer presses you to say a salary expectation, just say this statement.
- “That sounds like a good starting place” – When the employer proposes an initial salary.
- “I’m a bit disappointed” – When the salary appears low, this statement can open up the negotiation process without coming on too strong.
Getting hired is always a positive thing, but don’t settle for an amount lower than what you know you could get paid for. Just be confident, say what you need to say, and be flexible when need be.
I have always found research helpful. Knowing what others make at that same job really helps negotiate. I have used this often and it has worked out well.
Miss T @ Prairie Eco-Thrifter recently posted..What Buddhism Teaches Us About Personal Finance
Miss T @ Prairie Eco-Thrifter recently posted..What Buddhism Teaches Us About Personal Finance
You’re right! Researching salaries is a must. How would you know where to begin if you don’t at least know what others are making.
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I agree, I was able to negotiate my salary/ promotions a few times. I will be back in that game soon. Looking forward to it considering my credentials have been enhanced a good bit over the past 2.5 years.
Good luck. Don’t for get to update me on the interview process.
I look forward to negotiating in this sense; I was able to negotiate extra vacation time when I came on-board at my new job and a larger salary increase when I was promoted. If you don’t show them you are aware of your own value, they certainly won’t go out of their way to show you!
Great way to negotiate on more benefits! Many people forget about the benefits and only focus on salary. Time off is salary in my mind! Can you break down your negotiation progress?
YFS recently posted..Top 5 Negotiation Tips That Will Get You A Higher Salary
YFS recently posted..Top 5 Negotiation Tips That Will Get You A Higher Salary
Oh I like that! Comfortable: good word choice.
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Is there something else you could say besides “I’m a bit disappointed”? I like it, but I would probably not be able to say it. Yet I don’t want to say, “That’s not what I expected” which sounds too demanding. Any other ways you could start the conversation?
You could always reply with a salary range you would be comfortable with or specify a number you want.
YFS recently posted..Top 5 Negotiation Tips That Will Get You A Higher Salary
YFS recently posted..Top 5 Negotiation Tips That Will Get You A Higher Salary
Very true about the money, plus it’s not very professional bringing up money in the interview until being asked.
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I very rarely bring up the topic of money during the interview. But, with recruiters it’s among the first things I discuss.
It’s such a tightrope, isn’t it? It’s difficult to remember that you want the right amount of money, but it has to be a “win” for the employer in the end also, or you won’t be there long. Whenever I have to negotiate, I go read a couple good books on negotiation first so I can remember my focus and also realize how to stick up for myself without winning the battle to lose the war….
By the way, when I’d hire people, it was AMAZING how many wanted to talk money right away. Doesn’t anyone do their homework before interviewing? They all lost the job with that question.
AverageJoeMoney recently posted..I’m Not an Expert on Everything
AverageJoeMoney recently posted..I’m Not an Expert on Everything
This is the reason why I never talk money in the interview. I focus on wowing my interviewee then let them take the first shot. Can you recommend any negotiation books?
Very useful advices, I had been always in trouble when I was asked for the expected salary. Your tips are really helpful to make it clear how to benchmark it, thanks for sharing this!
Why do you have trouble when asking for your expected salary?
I especially like the tip on what to say if you think the starting salary is too low. I, like a lot of women, find it uncomfortable to negotiate. But that is one reason we are paid lower as a group, so we need to be uncomfortable and learn to do this!
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Marie at FamilyMoneyValues recently posted..Yakezie Blog Swap # 16 How to Raise a Millionaire – Developing Your Child’s Entrepreneurial Aptitude
Being uncomfortable means you’re growing. The worst answer you can get is a NO. I say always negotiate even if the first offer is one you could live with.. push a little bit further.
Why don’t you like to negotiate?
YFS recently posted..Top 5 Negotiation Tips That Will Get You A Higher Salary
YFS recently posted..Top 5 Negotiation Tips That Will Get You A Higher Salary