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Negotiating Salary

Many students state that they are not sure what to say when the subject of salary comes up during the interview. They want to make sure that the salary they are offered is within an acceptable range for a person with their background and experiences.The following tips can help you when you negotiate your salary:

  • Research geographic salary ranges for the position you are applying. One resource is the NACE (National Association of Colleges and Employers) Salary Survey, which is available in our office. Another resource is http://www.salary.com/
  • Avoid giving salary requirements until you have been made an offer. If questioned, give a vague answer like, “By working hard and providing value, my salary has steadily grown along with promotions and responsibilities.”
  • Don’t be the first to name a salary expectation. You may seem too demanding, out of range, or underqualified.
  • Salary discussions are best after all interviews and you are being presented with a job offer. You have a much stronger negotiating position after they determine you are the best person for the job.
  • Most jobs have salary ranges. What range is authorized for this position? Negotiate from there, focusing on your worth.
  • Target your salary within 20% of the company’s expected salary range, and be prepared to justify your higher number.
  • When you discuss salary figures, give a range – your expected salary at the bottom and what you desire at the top. For example, $40,000 - $50,000: you expect $40,000 but hope to negotiate higher.
  • The lower the job level, the lower the negotiability of the salary because there are generally more qualified applicants for these jobs.
  • If the offer is unacceptable, don’t be afraid to ask directly if that is the best offer the company can make.
  • Show flexibility.  Counter offer instead of rejecting an offer outright.
  • If you need a salary that is higher than what is offered, suggest additional responsibilities to increase the salary or ask for an earlier performance review and raise.
  • Evaluate benefits. They are often one-third of the total compensation value and may be negotiable.Good ones to look for and understand are the following:

    Pension or 401K
    Medical, dental, vision insurance
    Profit sharing, employee stock plan
    Signing bonus
    Stock options or performance bonuses
    Life, disability insurance
    Promotion and raise schedule

  • In a group evaluation, use those you connected with during the interview to help negotiate for you internally.
  • Make sure to negotiate based on the cost of living in the city you will be living and working in. You can check this at http://www.bestplaces.net/
  • Study salaries of comparable jobs with similar companies. Knowing your market value with strengthen your negotiating position.
  • In evaluating an offer, consider title, opportunity for advancement, company reputation, culture, commute, and ability to work with the management.
  • Don’t accept any offer on the spot. Show interest but ask for time to think it over. Refrain from disclosing your need to discuss the job offer with your spouse. Get the offer in writing.
  • Contact companies with whom you’ve interviewed. Give them a chance to match the competing offer to top it.