Salary Negotiation

• The Art of Skillful Negotiation
• Handling Salary Questions During the Interview
• Benefits
• Where to Get Salary Information

The Art of Skillful Negotiation

• Have an amount in mind.
  Decide what you want - and what you'll accept. This means knowing three important figures: 1) your "dream" salary - the most you can ask for without fear of alienating your prospective employer 2) your bottom line - the lowest figure you'd settle for and 3) your goal - a realistic amount you think you have a good chance of getting.

• Take a hard look at your salary requirements.
  Construct a basic budget by listing your expected monthly expenses. Your actual paycheck will reflect income tax and other deductions.

• Be ready to compromise.
  A heavy-handed "pay me what I'm worth or else" ultimatum is not recommended. If the employer comes close to what you're after, you'll have to decide whether to settle on this figure. Consider the career benefits for you in this position when making your decision.

• Emphasize your skills and abilities, not your needs.
  Don't present your request in terms of how you will benefit (e.g., pay off your student loans or buy a new car). Instead, point out how the company will benefit by the experience and contributions you will make.

• Stay calm, cool, and collected.
  Salary negotiation should not be an adversarial process, but rather a friendly, open dialogue. When the discussion isn't going your way, don't become angry or lose control - this is not a winning strategy.

• Seek creative alternatives.
  If the salary you have in mind is out of the question, perhaps a bonus could be justified. Ditto for other perks, such as taking a job-related course or starting a graduate program. Consider negotiating for non-monetary awards, such as flexible hours, a better office space, or more responsibility.

• Keep things in the proper perspective.
  Remember that your salary has nothing to do with your value as a human being. It's strictly an economic issue. Compensation is a high priority for nearly everyone, but it should never be the sole factor in deciding whether to accept a job offer.

Handling Salary Questions During the Interview

• "What are your salary requirements?"
  Advance preparation will not only maximize the potential for a better compensation package, it will show that you've done your homework and know your value and the "market rate" of the position.
  Whether you get what you think you deserve will depend on two major things: 1) how well you lay the groundwork and deliver your request and 2) the salary range the employer has in mind.
  One appropriate response might be: "I understand the current market rate in Los Angeles for this job is $30,000-$35,000." Another approach: summarize the requirements of the position as you understand them, and then ask the interviewer what the company's normal salary range is for that type of position.

• "How much did you earn in your last job?"
  Tell the interviewer that you would prefer to learn more about the current position before you discuss compensation, and that you are confident you you will be able to reach a mutual agreement if there is a good match between your qualifications and the company's needs.

• "The salary range for this position is $22,000 to $27,000, is that what you were expecting?"
  Tell the interviewer that it does come near your expectations, and then offer a range that places the top of the employer's range (e.g., "I was thinking in terms of $27,000 to $32,000"). This keeps you within their price range but shows you are interested in somewhat more compensation. Be sure that the range you were thinking about is consistent with what you learned about the market rate for that position.

Benefits

However, an increasing number of companies offer flexible benefit packages which give employees a variety of choices and "perks." Most entry-level employees can expect a basic benefit package consisting of: health, dental, disability, and life insurance, as well as paid vacation, sick-leave, and holidays.

A more comprehensive benefits package might include some or all of the following:

Where to Get Salary Information

Additional Publications
Numerous references, such as the following, may be obtained at public and university-affiliated libraries and at bookstores and newsstands.

Occupational Outlook Handbook
NACE (National Association of Colleges & Employers) Salary Survey
General periodicals such as U.S. News and World Report or Working Woman
Major newspapers
Trade journals