Salary Negotiation Techniques

 

  1. Delay salary and benefit negotiations for as long as possible in the interview process.
  1. You’ll have the greatest negotiation leverage between the time the employer makes the original offer and the time you accept the final offer.
  1. Don’t negotiate at the time the initial job offer is made. Thank the employer for the offer. Express your strong interest and enthusiasm in the job. State that you’ll need time to evaluate the entire compensation package.
  1. Do your research. The greatest tool in any negotiation is information. Determine your fair market value for the job you are seeking.
  1. Negotiate to your strength. Extravert – call the employer and ask for a follow-up meeting to discuss a counter proposal. If you communicate better in writing, draft a counter proposal letter.
  1. Consider asking for a higher salary (within acceptable limits) than you are willing to accept so that when the employer counters your proposal, the salary should be near your original goal.
  1. When possible, try and show how your actions will recoup the extra amount (or more) that you are seeking – through cost savings or increased sales revenue, productivity, efficiencies.
  1. If the salary you’re offered is on the low end – and the employer has stated that salary is not negotiable (due to corporate salary ranges or pay grade levels), consider negotiating for: a signing bonus higher performance bonuses; a shorter time frame for a performance review and raise. Always negotiate base salary first and then move on to other elements of the job offer.
  1. When presenting a counter proposal to the employer, be sure and include a few benefits that are expendable so that you can drop them in a concession to the employer as negotiations continue.
  1. Remember that even if all salary issues are “off the table,” there are still numerous other benefits you can negotiate, such as moving expenses, paid vacation or personal days, professional training, etc.
  1. Continue to sell yourself throughout the negotiation process. Remind the employer of the impact you will make, the problems you will solve, the revenue you will generate. Continue expressing interest and enthusiasm for the job and the company.
  1. If you have no intention of accepting the company’s offer, don’t waste your time or the company’s by entering into negotiation.
  1. If you have multiple job offers, don’t put the companies into a bidding war for your services.
  1. Enter negotiations with the right attitude. Win-win situation – you want to get a better deal, but you also need to let the employer feel as though they got a good deal as well.
  1. Some employers simply will not negotiate for one of a variety of reasons: strength of the economy. the size and vitality of the company. supply of job candidates with similar qualifications.
  1. Keep the tone conversational, not confrontational. Never make demands. Instead, raise questions and make requests during negotiations.
  1. Be prepared for any of a number of possible reactions to your counter proposal.
  1. Be willing to walk away from negotiations. If you don’t have a strong position (a good current job or one or more current or potential job offers), it will be harder for you to negotiate. If you really need or want the job, be more careful in your negotiations.
  1. Always be sure to get the final offer in writing. Be wary of companies that are not willing to do so. Note: One advantage of writing a counter proposal letter is that you list the terms of the offer in your letter.

Source: Adapted from Quintessential Careers, Job Offer Too Low? Use These Key Salary Negotiation Techniques to Write a Counter Proposal Letter by Randall S. Hansen, PhD.

And here you will find a few more useful resources on salary negotiation from the prestigious Harvard PON (Programm on Negotiation): negotiate-salary-3-winning-strategies/

as well as a You Tube video from Indeed on how-to-negotiate-salary