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Salary Negotiation Tips
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Salary Negotiation Tips
- NEVER bring up salary – leave that to the recruiter!!
- When asked “what are your salary requirements”, know what typical salary ranges are for that type of position, in the geographical location in which you are interviewing, and give them a range instead of a number. You can do research to gather this information on various salary websites (see helpful internet sites handout). CAUTION: Do not give them a range that is too low or too high – either way could work against you.
- During negotiation, never try to use your financial situation as leverage for negotiating a higher salary – focus on the skills, experience and expertise you bring to the organization.
- Some nonprofit organizations may have very strict budget limitations. Recruiters with little room for negotiation will often let you know up front what the salary is for the position.
- Evaluate the TOTAL PACKAGE!! You need to consider all benefits before making a decision. Some benefits that organizations offer include:
- Medical
- Dental
- Vision
- Vacation days
- Sick time
- Holidays
- Life insurance
- Professional development funds
- 401K plans
- Pension plans
- Profit sharing
- Stock options
- Tuition reimbursement
- Health club memberships
- Dependent care
- Employee assistance programs
- Parking reimbursement (or space)
- Flex time/Comp time/Overtime
- Short and long term disability
- Other aspects of the position to consider before accepting/rejecting an offer:
- Quality of work environment
- Opportunities to utilize skills, training, and experience
- Organizational culture
- Interest in specific job duties
- Type of industry
- Stepping stone for future career
- Financial/job security
- Supervisory relationship
- Co-worker
- Opportunities for professional growth
- Team-oriented environment
- Entrepreneurial environment
- Location
- Items you can negotiate:
- Salary
- Promised increases
- Yearly raises
- Vacation
- Signing bonuses
- Profit sharing
- Stock options
- Benefits
- Overtime/comp time
- Company car
- Travel awards
- Relocation assistance
- Title
- Training/education
- Access to technology
- Early review dates
- Travel assignments
- Home equipment usage
- Make sure to check a salary comparison calculator ( www.salary.com has one) when moving out of the area, to compare what you would need to make in that location to have the same standard of living that you do here.
Things to Keep in Mind:
- If a company quotes you an annual salary figure and you want to know what you're making per hour, divide your salary by 2080 hours. Example: $26,000 per year divided by 2080 equals $12.50 per hour. If they quote you an hourly rate and you want to figure your annual salary, multiply the rate times 2080. Example: $9.50 per hour times 2080 equals $19,760 per year.
- Never try to circumvent the human resources office. Career books may tell you to go around these people, but it's smarter to make them your friends.
- Treat the receptionist as if she were the CEO. (She's probably been there longer and has more influence.)
- Pay attention to peripherals. Typically, a good benefits package will amount to as much as 40% of your salary.
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