It is not surprising that, once a job search has ended and an offeris proferred, many seekers feel queasy to ask more money. If the pay is fair, now that they have come this far, they do not want to jeopardize the chance. And some job seekers are much more likely after COVID-19 hit to feel this way.
Now,, corporations face rivalry from other firms pursuing the same candidates. That’s why decent salaries can still be commanded by the most in-demand professionals.
If you have advanced skills and an outstanding resume, but won’t discuss a wage offer, you may be leaving money on the table. Thirty-six percent of executives recently surveyed by Robert Half said they are more likely than they were a year ago to discuss starting salaries for new hires; another 50 percent said they are as likely to.
Still, without adequate planning, it would be an error to bluster into the starting salary debate. Most hiring managers will give you the chance to think about the offer and will not demand an immediate response.
Here are eight tips on how to negotiate pay that will help you press for what you want tactfully and confidently.
- DO get acquainted with industry wage patterns
As educated as possible, you need to enter into a wage agreement. Your greatest ally is knowledge. Consult Robert Half’s 2021 Pay Guides to gain a new, practical view of the compensation landscape in your industry. For your place and skill level, you’ll find the going rate. To change national figures for your geographic region, use our Wage Calculator.
Pay special attention to the Salary Guides’ In-Demand Positions or Essential Tasks pages. If you find you are in the running for one of the hottest jobs of today, you will react to the work offer more confidently. It can be challenging for the employer to find someone with adequate expertise and experience, and it opens the door to demand better pay.
Also of interest: While 44 percent of managers surveyed by Robert Half said they did not make any adjustments to starting salaries, since the pandemic began, 28 percent have raised them.
- DON’T hesitate to build your case
Do not only counter with a higher number once you obtain the salary bid. Even if your research confirms it, if you explain why you believe you deserve more, you’ll be more successful. Highlight your strengths, explaining all the extras that someone with your track record would get from the company.
Jot down clear examples of how your talents and expertise can help the bottom line of your new organization prior to negotiating. For example, possession of qualifications or advanced technical skills will boost the ability to do the job, so do not forget to mention them. You’ll make a solid case for why you should be paid more than the initial offer by tying your strengths to the position you’ll take on.
- DON’T expand the facts
When negotiating pay, total integrity is paramount. There’s no better way to see your offer rejected than to find out that you invented a rival work offer or inflated your salary from previous employment with a hiring manager.
- DO factor in perks and advantages
Salary agreements also require certain give-and – take on salaries and benefits for workers. It could be less expensive for the employer to offer ground on extra working days, flexible hours or, especially today, a work-from – home schedule than a bump in salary.
Consider what’s beneficial to you and what will make an offer more appealing. Remember to specifically compare health care coverage, retirement savings accounts and other incentives to make an educated decision if you are considering several offers. Factor in incentives such as opportunities for career advancement with the future employer as well.
- DON’T wing it around
To some people, this may sound like overkill, but it is a good idea to ask a friend or mentor to practice the conversation with you that you are likely to have with the hiring manager. Someone from the corporate world is the perfect partner, a business-savvy person who can mentor you to project confidence and answer unexpected questions. You can be more confident about yourself going into the wage debate by running through the delivery many times.
- DO know when it needs to be wrapped up
Only because you tried to bargain, a fair employer won’t withdraw a bid. But the hiring manager can be irritated by dragging out the wage negotiation and starting out the partnership on a sour note. If, after a few consultations, the company does not meet your requirements, politely withdraw and concentrate on prospects that better fit your standards of compensation.
- Don’t forget to get anything written in writing.
Ask for written reports until you and the hiring manager agree on a plan of compensation. It should include any special provisions in addition to the compensation amount, such as a signing bonus or moving expense allowance and a job description and a list of responsibilities for your new position. Ensure that you and the employer are signing the contract. As part of an employment contract, some businesses can automatically provide this, but if not, request some kind of informal documentation.
- DON’T just make it about you,
Note that most executives do not love to negotiate, either. Your potential boss is no foe of yours. Keeping your tone optimistic when negotiating compensation and benefits will help you handle these negotiations more efficiently.
You have to ask for it if you’d like to get a better starting salary bid. Too often, job seekers consider the first number that’s placed on the table. But if the economy is stable or unpredictable, companies are willing to offer advanced expertise and experience to team members that can support them the most. The keys to your success include homework, tact and trust.