Tips for Salary Negotiation
So, you are offered a job. Congratulations! Savor the accomplishment, but before you accept the job, make sure you understand the total compensation package. The time for negotiating is during the small window of time between getting the offer and accepting the job.
Here are some things to consider & research:
Compensation = Salary + Benefits
Look at the whole package. Different industries have different standards for sweetening the deal – from health insurance, retirement plans, vacation & sick days, tuition reimbursements, wellness packages, discounts on transportation & vendors, and relocation cost reimbursement. Make sure you understand the full picture.
Know what the playing field is by researching salary rates in both the industry and the location. There are several resources that can assist you:
- Your budget and needs
- The whole compensation package
- Industry trends
- Geographic cost of living
- Your level of experience
The first rule in negotiation is to ask. You won’t be offered more if you don’t ask and you don’t want to accept a salary that doesn’t work with your needs. The organization might not be able to say yes, but you want to know the playing field before you say yes to the offer. Lost for words: here are 11 Tips for Negotiating your Next Job Offer.