Tips For Effective Salary Negotiation

Effective salary negotiation is a matter of preparation. It requires that you have market information in hand about comparable jobs and that you have a fair and objective understanding of your own skills and attributes. Using this information you can, in most cases, enter into a salary negotiation from a position of strength and confidence.

Know the market

It is crucial that you know the typical salary range for the position you are considering. Without this information, you will have no idea if the offer being made is lower or higher than you should expect for the specific market.

You can obtain salary information from a number of sources, including online salary tracking sites as well as industry and trade groups specific to your profession. Another simple yet effective way to find out what a position is worth is to talk to a number of employers in the area who have a comparable position.

Know yourself

Your negotiating position also depends on having a fair, objective view of yourself. What are the skills and attributes that you possess? What benefit will you provide to an employer? If you have effectively presented yourself during the interview phase and the employer is very interested in hiring you, there will be more room to negotiate than if you are a "so- so" candidate and the employer is lukewarm about the prospect of hiring you.

Know when to address salary

The best time to negotiate salary is after an employer has decided they want you and before you have formally accepted the position. Some employers will bring up the subject of salary during the interview process, asking you what level of salary you would expect to receive. Avoid answering this question directly if you can, instead find out what salary range the employer has in mind. With this information in hand, you are in a much better negotiating position when the right time comes.

Consider total compensation

Keep in mind that while salary is the most obvious negotiating point, there are other components to consider as well. Think in terms of the total compensation package offered for a particular position. For example, consider how much vacation time/sick time is offered, any bonus or performance incentives available, and opportunities to work flexible hours or telecommute. Many employers will be willing to negotiate such things to some extent; so do not be afraid to bring them up if they are important to you.

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