How to Negotiate a Starting Salary
After a challenging job search, you finally receive a job offer from a company for which you want to work. The next step is to negotiate your salary and benefits. Do your research so you know your competitive worth in your field. Then, armed with this information you are ready to negotiate your starting salary. With careful and wise negotiation, you can turn the job offer into a lucrative and rewarding job position.
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Instructions
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Research your competitive worth. Consult a career counselor at your university, the Bureau of Labor Statistics or the salary calculator available on the website of the National Association of Colleges and Employers to learn what people in your field and geographical location earn.
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Formulate a minimum salary amount you will accept based on your skills, education, geographical location and experience.
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Wait for the job offer before naming any salary requirements. If the prospective employer asks about your salary requirements or your current salary, be as vague as possible. Tell the employer you need a competitive salary based on your experience and education.
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Accept the initial job offer from the company with gratitude and respect. Ask the contact person for up to 24 hours to consider the offer carefully.
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Evaluate the offer. If the offer includes a base salary as well as incentives and benefits, include these as well. Assess your personal situation (how much you need the job) and the current job market to decide whether to accept or counteroffer.
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Respond to the company with a counteroffer. If the initial offer is lower than you desire, thank the employer for the offer and state that based on your research you would accept a higher figure (name the figure specifically -- generally within $5,000 of the initial offer).
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Show the employer your research, if possible, to support your counteroffer.
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Wait for the employer's counteroffer or acceptance. You may need to negotiate back and forth several times before arriving at a mutually acceptable salary figure. Accept the offer formally to conclude the negotiations.
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Ask for the final offer in writing. The offer letter should contain your starting date, the location, your starting salary and any other benefits that are a part of your employment package.
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Tips & Warnings
Never tell the prospective employer that you won't accept anything lower than a specific amount unless you're fully prepared to stand by this statement.
References
Resources
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