Salary negotiations are a common part of the job search process. Knowing how to handle the conversation is essential, especially if you want to ensure that you get a fair pay rate. If your goal is to get top-dollar for your skills, here’s what you need to do to get more money when interviewing for a job.
Handle Research in Advance
Before you head to the interview, you need to have a solid grasp of your worth and the going rate for that position. If you can find salary details for that exact role at that specific company, then that can serve as an ideal starting point. However, you should also explore jobs at competitors that require the same skill set and experience level. That way, you can determine if the pay rate aligns with industry norms in your region.
Factor in Benefits
During the research phase, it’s also smart to assess the kind of benefits you’d likely receive if you are offered the job, including their overall value. In some cases, a lower salary may be worthwhile if the benefits package is stronger than what you’d find elsewhere.
Essentially, you want to examine total compensation. That way, you can determine what pay rate is appropriate based on what else you’d receive.
Don’t Jump the Gun
While you might want to ask questions about the salary during your job interview, don’t jump the gun. Compensation discussions aren’t usually appropriate in the early stages of the hiring process. If you start inquiring about pay too early, that could rub the hiring manager the wrong way. If that happens, you may end up losing out on the job.
In most cases, your best bet is to wait for the hiring manager to begin the compensation discussion. At times, it may be a good idea to wait even longer. For example, if the hiring manager asks about your salary expectations very early in the interview, you may not have enough information about the job yet to respond comfortably.
If that’s the case, try delaying the conversation by letting the hiring manager know that you’re looking for a competitive salary but would need more details before you could confidently share a number. After that, you could ask a question that showcases the kind of information you need and see how the hiring manager responds.
Avoid Giving the First Number
Once the salary topic is broached, it’s often best to avoid giving the first number. For example, you could state that you’re familiar with industry norms and are comfortable in that range. Then, you could ask the hiring manager to provide you with the company’s salary range for the role.
In some cases, the hiring manager will give you some initial compensation details. However, they may also push back. If the latter occurs, then you may have to provide the first number to ensure you don’t seem combative.
Offer a Range Instead of One Number
When it comes time to share a number, go with a general range instead of a specific figure. For example, using something like “the mid-50s to the upper 60s” leave a lot of room for additional negotiating.
Use your research to determine what kind of range is appropriate based on industry norms in your area. Additionally, you can also hedge slightly by adding, “depending on the job’s exact responsibilities.” That little bit extra gives you more room, especially if you do not yet fully understand the details of what the job entails.
You could also say that the range is also dependent on the value of any benefits. This could be a great option if you are open to a lower pay rate if the total package brings enough to the table and you don’t know all of the benefits-related details yet.
Justify Your Position
When you share a number, it’s wise to justify your position. Citing research regarding typical salaries for similar roles in the area is a solid option, as it shows that you understand the local job market. You can also highlight the value you bring to the table, showcasing relevant accomplishments that genuinely demonstrate your skills.
As you justify your position, avoid bringing personal details into the equation that aren’t relevant to the hiring manager. For example, family size, plans to buy a home, or anything similar have no bearing on the conversation, so it’s best not to bring them up.
Stay Open-Minded
It’s important to remember that salary negotiations can head in many directions. If you’re genuinely interested in the job, stay open-minded. You may be able to use different approaches that ultimately get you to the number you want, though it may not happen right away. For example, you may be able to schedule pay increases that are tied to certain performance metrics in advance or negotiate for a higher performance bonus rate.
Similarly, you may be able to add in benefits or perks that increase the value of the total compensation package sufficiently to make a lower pay rate worthwhile. This could include more paid time off, access to tuition reimbursement or student loan assistance, or other additions.
By staying open-minded, you can explore alternatives with greater ease. That way, you increase your odds of ending up with fair total compensation based on what the job requires.
Know When to Walk Away
While everyone hopes that they can negotiate their way to a great salary, that won’t always happen. In some cases, companies simply aren’t prepared to offer what’s typical in your area or don’t have other forms of compensation that would ultimately meet your needs.
If you and the hiring manager are at an impasse, then walking away may be your best bet. Accepting a job that doesn’t meet your needs usually isn’t a great idea, and you may be better off if you continue your job search and find something that brings what you need to the table.
If you decide to remove yourself from contention for the position, do so in a polite, professional manner. That way, if another opportunity at the company that can meet your needs comes along, you won’t have burned a crucial bridge.
Do you have any other tips that could help someone get more money when interviewing for a job? Share your thoughts in the comments below.
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