Salary Negotiation
Few job seekers are prepared to discuss their pay
requirements prior to a job offer or to negotiate it well
after a job offer is made. As a result of their blunders,
many job seekers are eliminated from consideration during
the selection process without even knowing why. Others who
do get a job offer too often mishandle the discussion of pay
in a way that results in their being paid less than they
might have received - or losing a job offer they might have
accepted.
The fact is that most people don't negotiate their
salaries at all because few know how to negotiate
effectively. At one time or another, each of us has probably
failed at this process. Most job seekers accept the first
offer thrown their way because they're afraid that
negotiating will kill any chances to get the job.
Negotiation experts cite four strategic mistakes that
novice negotiators often make. Although these mistakes refer
to negotiations in general, they are often at the root of
salary negotiation problems as well.
1. Lack of persistence.
2. Impatience.
3. Going in too low. All too often one side in the
negotiation process accepts in advance a settlement that is
lower than the other side had in mind. Once a low position
is revealed, an experienced negotiator is unlikely to go
higher.
4. Lack of research. Few people are prepared with facts
to back up their position in negotiations. They go on "fell"
to establish a value. Lack of preparation can be a very
expensive mistake.
Three Rules of Salary Negotiation
- Early pay discussions can screen you out.
Early in the traditional screening process, many
employers want to know how much you expect to be paid.
Before the interview, they may seek this information on
applications and in want ads. And some employers ask you
how much you expect to earn very early in the interview
process. Just why is this information so important to
them? The reason is that many employers don't want to
waste their time with people who have salary
expectations far above what they are willing to pay. Put
simply, they want the information so that they can
screen you out. Employers look for ways to eliminate as
many people as possible during the early phases of a
traditional interview process. There may be many
applicants for an opening, particularly if the job was
advertised or is reasonably attractive in some way.
Employers will try to find out whether you want more
money than they are willing to pay. If so, they figure
that, if hired, you may soon leave for a better-paying
job.
- Know the probable salary range in advance.
Approaching an interview without being prepared for
discussions of pay is not wise. Although you will have
to do a bit of research, knowing what an employer is
likely to pay is essential in salary negotiations. The
trick is to think in terms of a wide range in salary,
rather than a particular number. Keep in mind that
larger organizations tend to pay more than smaller ones,
and various areas of the country differ greatly in pay
scales. Find out the general range that jobs of this
sort are likely to pay in your area. That information is
relatively easy to obtain; all it may take is asking
those who work in similar jobs, finding the information
online or advertisement.
- Bracket the salary range. let's assume that
you have done your homework and you know a range
that you are likely to be offered for a given job in
your area. And let's also assume that you run into an
interviewer who insists on knowing how much you expect
to be paid.
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