When you are looking for a new job, advice on how to evaluate
and negotiate
an appropriate starting salary is invaluable. We've teamed up with
acclaimed
salary negotiation expert and author, Jack Chapman, to bring you
practical
advice on negotiating a proper starting salary.
Five simple starting salary rules:
Rule #1) Postpone talking about starting salary until there's an
offer on the table
Rule #2) Let the other person name a figure first
Rule #3) Repeat their starting salary offer and be quiet
Rule #4) Share your researched starting salary range and establish
your individual value
Rule #5) Clinch the deal and deal some more
Starting Salary Rule #1 - When to Discuss Starting Salary
There's not much point in discussing starting salary unless you're
sure you're
going to get an offer, make sense? But more than that, it's not to
your
advantage to talk about your starting salary. When an employer
asks
"what are your salary requirements?" or "what are you currently
earning?"
they are gathering information on your likely expectations. There
are maybe
two or three right answers to this question and more than 20 wrong
ones.
Too high and you're screened out, too low and you'll lose money in
the initial
offer, or you'll be eliminated as under-qualified based on your low
salary requirements.
The proper time to discuss your starting salary is after the job
position has
been defined and you are sure the employer understands what you
are
bringing to the table.
Until then, a good postponing phrase would be, "All I'll require is
a competitive
salary. I will likely be using PayScale and other resources to help
determine
that -- as I presume you will, too. So I'm confident the starting
salary will take
care of itself, if I'm the right person for the job."
Starting Salary Rule #2 - Who Goes First
When they're ready to make an offer, here's a second piece of
timing advice:
don't haul out your research too soon! When it comes to discussing
your
starting salary, let the employer go first. That way you have a
firm starting point
that you can be assured of, when it is your turn. Generally, you'll
want to bump
the starting salary up 5-10% or more. But, in the worst case
scenario,
if they go first, you certainly won't get less than their initial
offer. Additionally,
there is always the chance that they will exceed the starting
salary figure you
were planning to mention.
NOW do you show your salary research? NO.... Not yet.
Starting Salary Rule #3 Repeat The Offer And Be Quiet
Once they go first, you respond by repeating their starting salary
offer and
remaining silent. If they have given you a low-ball offer, and they
know it, now is
the time for them to increase their offer. Okay, Ive heard the
offer, Ive greeted it
with silence, now do I get to use my salary report?
Maybe...
Starting Salary Rule #4 - Share Your Researched Range and Establish
Your Individual Value
If you are reading this article, you have probably done some
research about
what your salary should be. If you haven't or want more accurate
and reliable
salary information, complete our brief salary survey to determine
what the
average salary and salary range is for your new position.
Now that you have the salary information necessary for negotiating,
I want you
to learn the value of having PayScale salary report in hand. The
best way to
leverage a PayScale salary report for a successful negotiation is
to set your
own expectations about how you will use your report. Know what
information
your report contains, and especially know what the data represents
- what is
behind the numbers - before taking it to the boss or a potential
employer.
When you compared your research with your offer, you were either
under
market, over market, or right in the range. If your salary research
indicates that
the offer is below the range for your specific job and
responsibilities, now is
the time to share your research with the employer and discuss how
the
employer arrived at his/her estimates. Often you will find some
points of
disagreement on which to negotiate an increase.
Keep in mind that the employer will likely view compensation data
differently
than the employee. Two common points the employer may wish to
discuss
are the sources used to obtain the data in the report, and whether
the data in
the report matches your job profile, the company profile, and job
location.
Finally, when a company wants to buy your time and effort, remember
it's a
human being who makes the decision. It isn't a cut and dried
assessment;
it's a rational-emotive process that takes into account many
factors that aren't
always fair or logical. Your awareness of these factors can greatly
improve
your chances for improving your salary.
Starting Salary Rule #5 - Clinch the Deal and Deal Some More
Finally, you receive a salary that you can live with and is fair.
Do you sign it
then? Well, yes and no. Yes, you now have a firm base to agree to,
that you
know you will be happy with. But, don't stop! It is now time to put
your attention
on the other factors of the salary-equation gold mine.
