Tip Sheet on Salary Negotiation

Tip Sheet on Salary Negotiation

When to negotiate?                                                                                        

•             Don’t discuss money until you believe they know you and really want you.

•             When you feel the offer made does not reflect your value and/or the value of the position.

Answering these questions will prepare you for salary negotiation:

1.            What is the “market value” – the current salary range – for this position?

Sources for this information include:

                Web sites (wetfeet.com, quintcareers.com, salary.com)

                Government salary surveys (iseek.org- Find a Job- Find Salary Information)         Trade/professional organizations

-members

-salary surveys

                Your network of informational interview contacts

                Employment agencies

                Competitors

                Want ads

2.            What is the employer’s salary range?

3.            Based on my qualification and experience, what do I consider a satisfactory offer?

4.            If offered less than I think I am worth, what will be my opening request? (5-10% above expected figure)

5.            What credentials, skills and accomplishments justify my requested salary?  (These should be stated in terms of specifics: examples of work, past results in quantifiable terms, etc.)

6.            What objections might the employer have to my request?  Be prepared for another counter-offer from them.  

7.            How will I respond to these objections?

8.            What other non-salary items do I have to negotiate with (benefits, vacation, perks)?

9.            What combination of salary and benefits is the minimum I will accept?

10.          Get the final offer in writing.