3 Top Salary Negotiation Tips
My Recruiting Career has spanned 40 years. Few professionals in my industry have that longevity. Now I am pulling the curtain back for anyone looking for a successful Career move.
Let us discuss salary negotiation. The discussion takes an entire chapter in my books. However, I will give you a few helpful tips.
1. Do NOT Discuss Salary Before The Interview
There is only one good effect of discussing salary before your interview – and 2 Bad Effects. The only good impact is finishing your interview – and the Manager says, “Wow, you are looking for $112,000! That is Exactly what we want to pay!” Sooo, in real life, do you feel this Ever Happens? In my experience, never.
There are potentially 2 bad effects – and I have seen both of these occur. One potential effect is to ask more than the company is willing to pay for that position. They may not tell you that is the reason you lost the offer. They may say that they found another candidate.
The second effect is you may ask for too little compensation. Far too many candidates leave money on the table. Would you like to be one of them? Probably not. But the company is thankful that you helped your budget. Keeping in mind that a 5% annual raise on $100,000 is less than a 5% raise on $120,000 means you may never make up that difference.
2. It Is The Company’s Responsibility To Determinate Compensation
You do not know the earnings of your future teammates – nor should you. Therefore, the company is holding all the cards. You only have darts – and your darts can hit far off the mark. Therefore, do not give the company a number for an offer.
Instead, tell them how excited you are to receive an offer from them, and how much you want to work for them. Then, tell the Manager WHY you want to work for them. This evidence may make the difference between receiving an appropriate offer or just receiving an offer.
3. Always Negotiate SOMETHING!
The company may extend an Unbelievable offer that you are dying to accept on the spot! If the company is very interested in your employment, they may be willing to bend a little on their offer.
Where may you be able to add to your compensation?
- You may always ask for an additional week or two of PTO/Vacation, especially if you have 10 years or more experience.
- If you will receive some relocation assistance, ask that the taxable portion is bumped up to cover taxes.
- Sign on bonuses may help you become whole if the company may not be able to make your last level of compensation.
If you have not shared you current/last salary before your offer, the company chose the compensation where you fit in their structure. You may like the potential growth in this new company. Therefore, confidently ask if the company has any flexibility in their offer. If they ask, “Why do you ask?” Slide your foot in the door. Tell them that you are aware they did not know your previous compensation. Tell them that their offer is $XX less than you last compensation. However, you really want to work for them. “Do you feel you may be able to add a sign on bonus to make me whole?”
If they tell you this is their final offer, you have a decision to make.
My books have a script that I taught my candidates to use when I was a contingent recruiter in the 1980s. It still works today.
You can do this!
Networking is the best practice to find a new career! I wrote my books to duplicate my efforts to assist you in your search. My expert experience as both a Recruiter and Career Coach gives me a perspective few professionals have. My Salary Negotiation script solves that pain point for most career seekers. To accelerate your #Jobsearch, please immediately click on this link to my recent book, Employee 5.0: Secrets Of A Successful Job Search In The New World Order – http://amzn.to/2D9w39f My book contains the 12 Steps to find a new career in a nice, orderly fashion that follows your sales process. According to a newspaper review, “It is refreshing to find an author who speaks With you and not At you!” It also has the stories of people who did well – and some who did not. You may learn from both sides.
If you feel the need for professional Career Coaching, my business has 3 different packages. I work closely with Professionals in all three packages. The primary difference is the time and personal requirements.
The first package is the 2 meetings Introductory Package. The 2 meetings cover the basics of a Career Search.
The second package is the 6 month Gold Package. This package provides you with Career Search guidance and Career Coaching for your first months in your new position.
The third package is the Titanium package. Call me for details on this package because it is tailored specifically for the individual.
My Talent Attraction business model is to work with one company at a time and charge a flat monthly fee. This enables me to become part of a company’s team for short or long periods. Therefore, I know what is going on behind the curtain that candidates and authors outside of my field cannot see.
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See you on Fridays!
Coming Soon, my third book on Finding A New Career! Expect Success! The Science Of The Over 50 Career Search! If you would like to buy a copy before its release, contact me at Bill@RecruiterGuy.com. The first copies will be available in November.
Bill Humbert is available for Speaking, Talent Attraction Consulting, Career Transition Consulting, and Training contracts.
https://recruiterguy.com/ Bill@RecruiterGuy.com 435-714-4425
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