Congratulations, you’ve landed an interview! Maybe you’re even on your second or third meeting with a particular employer. As things move along in the process, you’re getting closer to the time of salary negotiation. To ensure that you’re prepared when the time comes to talk about money, check out the following tips.
Let Them Bring It Up.
You don’t want to be the one to broach the subject of compensation. If the employer is interested in you, you can be sure that the topic will eventually come up, so wait for that time to discuss it. That means you shouldn’t list your salary requirements on your résumé unless you’re required to do so.
Stating how much money you want too soon can box you into a figure that is lower than what you might’ve received otherwise, or it can eliminate you from consideration because the amount is too high.
Also, bringing up salary too early in the process is presumptuous and can make it appear that you’re only interested in money.
Do Your Research.
Before the interview, it’s your job to find out what the going rate is for the position you’re being considered for. This figure will vary depending on your location, skills, experience and education.
To get an idea of what the salary for the job will be, do online research on sites like salary.com, salary.monster.com or payscale.com. If you happen to have friends who work at the company you’re interviewing with or know people who work in the same industry, you can get a good idea about what type of salary you can expect.
Researching compensation before the interview is an essential step to receiving a competitive salary. After all, if you don’t know what’s a fair price, how will you know if the interviewer’s offer is one you want to accept?
Don’t Be Too Quick to Accept the First Offer.
Before you shout “yes” to the first number out of the employer’s mouth, take a moment to think things through. Even if you’re satisfied with the offer, it’s best to not be hasty.
Consider asking for a day or two to review the offer before committing. During this time, evaluate the offer and ensure that it’s in line with the position responsibilities and your background.
If the offer seems too low based on your research, try making a counter offer. But be sure you have solid reasons for asking for increased compensation or other perks. Employers won’t be inclined to dish out more money just because you say you “need” it. That’s why you’ll have to be able to explain why your skills and the position responsibilities deserve a higher salary. Chances are, even if the employer is unable to sweeten the deal, they’ll respect you for thinking things through and knowing what you’re worth.
Before going in for an interview, it’s important to know what a reasonable pay range is for the position you’re applying for and to be able to sell your skills to the employer. By preparing for salary negotiations, you’ll increase your chances of receiving the competitive salary you deserve.