Questions from My Preparing for the Interview Seminars
I created this blog
series to share my answers to questions from my preparing for the interview seminar. The focus question here is,
"How do I negotiate the starting salary?"
This question comes up in my seminars and I know it is probably on the minds of most job seekers so I wanted to share my answer to this provocative question as I cover it in my Book ‘The Road to Controlling Your Career’.
When the time comes to talk about starting salary and benefits, most job seekers turn into great listeners and are very amenable, hoping for the best but most likely getting the average or below.
There are two very important points to remember once you have made it to a job offer.
The job seeker wants the job and the employer needs to fill the position with the best possible candidate. This is a time you may influence an immediate pay increase that will also affect every increase you will get during your career with the corporation.
Here is the simple math: in most positions, you will have an annual evaluation and may receive an increase that will be a percentage of your salary. For most of us, a 5 to 7 percent increase would be something to celebrate. However, handling your negotiations properly may get you a 10 percent or higher increase in your starting salary. A higher starting salary will mean a higher dollar increase every year after. Here is an outline that will help negotiate your starting salary:
First, do the research on what the salary range is for the position. Let the interviewer bring up the first salary number; this can be tough because you may be asked what your salary expectations are. In this case, let the interviewer know you have done your research about the salary range of the company or industry. Add that you will be giving the organization 100 percent and expect a competitive starting salary in return. You should know the minimum that you will accept going in.
If the interviewer pushes you to give a salary range, do not give a large range (e.g., $50,000 to $65,000). It is better to give a shorter range (e.g., $60,000 to $65,000). This is because once you give your range, while you focus on the higher number, the interviewer will focus on the lower number.
Aside from being pushed into having to give numbers, stay vague on salary until you know for sure that there is a job offer on the table. Giving numbers too early or before the interviewer gives a salary range could have one of three consequences you may never know about. 1) You could end up with a lower starting salary than the company actually was prepared to give. 2) You could low ball yourself to the point where you do not get the job because the interviewer thinks you are under qualified for the position. 3) If your number is way out of line on the high side, the
interviewer may think you are not realistic and will not be satisfied with what the interviewer has to offer.
You may be thinking, with the way things are for job seekers, should I go after all I can get. Yes … if you did the proper research and know the salary range for the position, do not be afraid to negotiate on the high side. People tend to think the higher the salary, the more the company will expect from us. The truth is the expectations are attached to the position—not the salary. You will be required to reach the expectations and goals of the position no matter what starting salary you
receive. Remember, the company is not hiring you as a favor to you; the company is hiring to fill a position that is important to the organization.
Here is the simple math: in most positions, you will have an annual evaluation and may receive an increase that will be a percentage of your salary. For most of us, a 5 to 7 percent increase would be something to celebrate. However, handling your negotiations properly may get you a 10 percent or higher increase in your starting salary. A higher starting salary will mean a higher dollar increase every year after. Here is an outline that will help negotiate your starting salary:
First, do the research on what the salary range is for the position. Let the interviewer bring up the first salary number; this can be tough because you may be asked what your salary expectations are. In this case, let the interviewer know you have done your research about the salary range of the company or industry. Add that you will be giving the organization 100 percent and expect a competitive starting salary in return. You should know the minimum that you will accept going in.
If the interviewer pushes you to give a salary range, do not give a large range (e.g., $50,000 to $65,000). It is better to give a shorter range (e.g., $60,000 to $65,000). This is because once you give your range, while you focus on the higher number, the interviewer will focus on the lower number.
Aside from being pushed into having to give numbers, stay vague on salary until you know for sure that there is a job offer on the table. Giving numbers too early or before the interviewer gives a salary range could have one of three consequences you may never know about. 1) You could end up with a lower starting salary than the company actually was prepared to give. 2) You could low ball yourself to the point where you do not get the job because the interviewer thinks you are under qualified for the position. 3) If your number is way out of line on the high side, the
interviewer may think you are not realistic and will not be satisfied with what the interviewer has to offer.
You may be thinking, with the way things are for job seekers, should I go after all I can get. Yes … if you did the proper research and know the salary range for the position, do not be afraid to negotiate on the high side. People tend to think the higher the salary, the more the company will expect from us. The truth is the expectations are attached to the position—not the salary. You will be required to reach the expectations and goals of the position no matter what starting salary you
receive. Remember, the company is not hiring you as a favor to you; the company is hiring to fill a position that is important to the organization.
You should also have a good understanding of the company’s benefits and career opportunities.
A great benefit package or a sure opportunity to advance could mean much more to your
financial future than the starting salary itself. Finally, never lose sight of the fact that this is a negotiation—not necessarily, the hill you want to die on.
A great benefit package or a sure opportunity to advance could mean much more to your
financial future than the starting salary itself. Finally, never lose sight of the fact that this is a negotiation—not necessarily, the hill you want to die on.
Your goal is to convince the interviewer that increasing the offer would be the right decision and would benefit the company.
