By Kristina Cowan, Senior Writer, Payscale.com
With these savvy salary pointers, you, too, can come out on top.By Kristina Cowan, Senior Writer, Payscale.com
Salary negotiations can be the most dreaded part of any job -- new or old.
But having the right approach can make the process much easier and less frightening.
Whatever the circumstances, experts say there are principles employees must follow for successful salary negotiation: being prepared, reasonable and confident. Likewise, they say, there are common barriers to successful salary negotiation, including closed-mindedness and poor communication skills. Read on for more expert salary negotiation tips.
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Search by Company | Search by Industry 1. Always Be Prepared to Negotiate
Being prepared is one of the key ingredients to a successful salary negotiation, according to experts.
Kevin Nussbaum, president of the Human Capital Services division at CBIZ, a business services firm, said knowing your fair market value is one way of being prepared.
"Everyone expects to be paid fair market value, and it's always important to know what fair market value is; sometimes you have to force the issue," he said. "It's always better to negotiate salary from a position of strength with your data."
Nussbaum pointed out that the "pay mix is moving more to variable pay"-such as bonuses, preferred compensation or options. "There is less appetite among employers to just increase the base salary," he said.
Francie Dalton, president of Dalton Alliances Inc., a business consulting firm based in Columbia, Md., agreed salary negotiation preparation is vital, including research on a company that reveals its needs, strengths and weaknesses.
Dalton said employees or job seekers must also be reasonable.
"If you don't have justifications for what you are asking; if you can't answer why you're worth something, you won't be successful in salary negotiations," she explained. "You need to be clear and fluent in why you deserve what you're asking for without sounding defensive."
Talking salary makes most people uncomfortable, she said, so embracing such talks often suggests confidence and establishes respect.
"Those who are comfortable stand out as being more confident, as having more self-esteem because they're willing to address an issue most aren't willing to. Most are willing to take what they get and are hesitant to be their own advocate," she said.
2. Don't Get Discouraged
Besides knowing what to do, it's also useful to know what to avoid when it comes to salary negotiations, experts say.
Salary negotiation expert Laura DeCarlo says an applicant shouldn't head for the hills if an employer doesn't immediately meet his or her expectations.
"That approach is closing the door when you could've persuasively convinced them you were the right one for the job and they would have worked to get you in. For the right candidate, companies will sometimes move mountains," DeCarlo said.
Dalton said poor communication skills can be a death knell.
"You can be brilliant, but if your delivery is poor that works against you. ... How you carry yourself, elocution, grammar ... all those things matter," Dalton said.
3. Consider Negotiation Before Accepting a Job Offer
After you receive a job offer, there is typically a lot of room to negotiate salary and benefits. Remember salary negotiation after a job offer is the best time to take control of the situation. Once you have accepted the job offer, your chances to renegotiate are typically tied to performance reviews.
With great confidence, preparation, and even some charm, salary negotiation can net optimal results.
Next: 24 Jobs With Rising Salaries >>
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Search by Company | Search by Industry Kristina Cowan is the senior writer for the AOL Salary Center and PayScale.com. She has over 10 years of journalism experience, specializing in education and workforce issues.
Copyright 2007 PayScale, Inc.
Feb 17th 2009 @ 8:02PM saintdonald2003
We all need more money and kick the illegals out!
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Mar 3rd 2009 @ 7:04PM tyler
amen to that brotha
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Apr 30th 2009 @ 11:30PM cynthia
If you work in 'at will' employment state, MAKE SURE you get whatever salary/compensation you've agreed to in writing with both their and your signatures and a witness, if possible. Make sure there are other items included in this letter/contract such as job expectations, start date, etc. and most important, there has to be an 'end date' to the agreement (which I thought was strange) which can be stated as the date of expected performance evaluation etc. I was promised and even had in writing the "guaranteed" terms of my salary + commission. The letter/contract used the word "guarantee". I tripled the company's revenues in less than a year (now at over 9 million) and was earning more than any other employee (EARNING)! in the company - I've been told. This made my manager and the owner jealous. The company "froze", without provocation or warning, my salary based on the average of the prior 12 months, which cost me an unanticipated loss of over 12K for one quarter, as growth had occurred exponentially. Then, Jan.1st, they cut my salary in half (no warning) and took all of my key accounts away. There was no reason, except that they didn't want to pay me what they promised. There has only been praise from my accounts and my employer for my work ethic and skill. Now the company is loosing ground with the business I'd worked night and day to establish. Needless to say, I am on line looking for another job right this minute! Yes, I have an attorney and can hopefully litigate a successful severence package, but because there was no end date described in my hiring letter/contract, the other terms are not enforcable, according to the lawyer. I hope he knows what he is talking about! I'm having to sell my ML, have had to use my savings to stay afloat and liquidate one of my 401Ks to pay the attorney. It is pretty embarrassing. I had no idea the "at will" status of this state could wreak such havok in the ability to force an employer to do what they promised in writing. If you're searching for a job and are willing to relocate, make sure you don't land in one of the 11 'at will' states. Good luck everybody! It's really tough out there but I want to believe good intentions and hard work still prevail! If not, I'll join the Peace Corps!