Negotiating higher pay is a necessity for anyone seeking competitive compensation for their skills and experience. Yet the fear of being perceived as greedy or causing the hiring manager to withdraw an offer keeps 10% of job candidates from taking this necessary step, according to a survey by Intuit.
In preparation for salary negotiations, do your research so you know what is the average pay range for a position with your qualifications in your area. You can use free online tools provided by websites such as Glassdoor, Salary.com, and Robert Half.
Also consider your work perks and benefits. Often times these can make up for an underwhelming salary offer and can potentially boost your overall compensation package. Some examples include health insurance coverage, vacation days, and flexible hours.
The key to success in a negotiation is being prepared to walk away if the employer is not willing to meet your target. She Negotiates founder Victoria Pynchon says that it is important to go into the negotiation with a “walk away point”—a final offer you are willing to accept based on financial need and your market value.
When you do decide to walk away from the conversation, you will have a better understanding of what your employer is willing to offer. If you are successful in negotiating your compensation, ask for the final offer in writing and request a timeline to review it. Also, be sure to request a clear list of all responsibilities and duties as well as an outline of the company’s compensation policy for your role. Negotiating higher pay