The process of negotiating is an important skill at any level
of employment and it pays off.
You've bought a great suit and a
pair of new shoes. You're preparing to interview for a new job
for which you feel very qualified. But you need help assessing
the value of your skills and experience to calculate a
respectable salary. You want to pinpoint a salary that you feel
confident asking for and that your future employer will feel
comfortable paying you. How do you figure out what you're worth
and actually get it?
Salary negotiation can be an emotional experience. We want the
job but we need more money. Or we may be afraid that if we push
too hard the company will offer the job to another candidate.
Negotiating is not merely saying, "I want more money." You're
looking for a way to reach an agreement, not a confrontation,
with your future employer. Before discussing salary, you need
to have the answers to certain questions, such as:
-
What is the salary range for this job in this geographical
area?
-
What is the lowest salary I will consider?
-
What makes me worth a higher salary?
-
What makes me uniquely valuable to this company?
You can research salary information through the National
Association of Colleges and Employers, job-hunting websites,
libraries, trade publications, a college career office, or
people who work in that industry or company.
THE INTERVIEW
While salary negotiation begins after the interview process, it
really starts in the initial interview. That's when you will
tell the company about yourself, your accomplishments and what
you can do for them. You'll want to use active words in the
interview to describe your achievements such as: I developed, I
coordinated, I took charge of, I initiated, I oversaw, and I
actively contributed to. During the interview, you want your
eventual supervisor to feel that you can help solve his or her
problems. Here are some rules-of-thumb related to salary
negotiations that will help you during the interview
process:
-
Listen to understand the needs of the company and the
person doing the hiring. What does this involve? Making
good eye contact throughout the interview-the surest way to
establish trust. Not interrupting and allowing them to
finish their thoughts. Repeating back to the person, in the
course of your answer, part of what they've just said.
Nodding after they make a statement to reinforce that
you've heard it.
-
Try not to be the first one to mention money. Don't tell
them how much you'll take. If you underestimate your worth,
you'll low-ball yourself and have to settle for less than
the company was prepared to pay.
-
If asked what salary you're looking for, say you have a
range. Then say it really depends on the total package,
including fringe benefits you might be entitled to, such
as:
Health insurance, vacation time, annual salary review,
retirement savings
plans, bonus plans, college tuition reimbursement plans,
stock options.
-
If pushed on the subject, state the range you have in mind.
The bottom of
the range is what you must have and the top is 10-15% above
what you'd take.
("I'm looking at a $65,000-$72,000 range"). Your range is
based on your
analysis of the market and what you feel you're worth to
the company.
-
If asked what your current pay is, tell the truth. If
you're due for a
raise or bonus, mention that also.
THE NEGOTIATION PROCESS
There are several ways the conversation might go as you discuss
salary and reach a mutual agreement with your future employer.
Let's say she has just offered you $62,000 annual salary. You
can say "O.K" and settle for less than you're worth. Or you can
swallow the "O.K" and say "Hmmm" instead. According to Jack
Chapman in his book, Negotiating Your Salary: How to Make $1000
a Minute, "When you hear the figure or range, repeat the figure
or top of the range and then be quiet." "$62,000? Hmmm (pause)
That sounds a little low."
To avoid sounding arrogant, use a question rather than a
demand. "Hmmm,
$62,000 (pause). I'm delighted that you're interested in me and
I am very
interested in the position. Based on my experience, I'd like to
be making between $65,000 and $72,000. What would it take to
get to the higher level within that range?" Make a positive
statement about liking the company or job before asking for
other things. This communicates that you appreciate the offer
and are almost ready to join them, if you can just get this one
last thing. "Hmmm, $62,000. I like the opportunity and I know
that I could contribute to your company, but I really need
$65,000 as a minimum. I would love to work here if I can get
that figure. Is there a way we can work that out?"
Don't worry that the employer will change her mind about hiring
you just because you ask for more. You must have interviewed
well and be a front-runner or else you wouldn't be getting an
offer. Besides, you aren't pushing her higher than she expected
to go anyway. If you get an offer that's a little lower than
you wanted with a company you love or one where you'd have
great upward potential, ask if you can get a salary review in
3-6 months instead of a year.
The process of negotiating is an important skill at any level
of employment and it pays off in two ways--by putting money in
your bank account and paying dividends in increased
self-esteem. Follow these guidelines and get ready to make a
toast to your success!
About the author: Lee Sumner is a Certified Professional Coach
who has helped hundreds of people create high-quality lives.
She is President of No Limits Coaching and past Vice-President
of the International Coach Federation-Alabama. She is
also a valuable member of the Womencorp Team.
