The Six Secrets of Salary Negotiation

Hello Everybody,

In this post I will be covering chapter 5 of What Color is Your Parachute?, The Six Secrets of Salary Negotiation.

The Six Secrets of Salary Negotiation

1. Never Discuss Salary Until the End of the Whole Interviewing Process at that Organization, When (and if) They Have Definitely Said They Want You. If a possible future employer raises the question of salary early on in the interview process, try to hold off the conversation by simply saying that you want to wait to decide if this is a good fit before discussing salary. If they're pushy say something like, "I'll gladly answer that, but can you help me understand what the job entails first?" And if they won't let it go, give them a range, but try to avoid this until you have a chance to make an impression on them. You want their decision to be based on you and your skill set, not a dollar amount.
2. The Purpose of Salary Negotiation is to Uncover the Most that an Employer is Willing to Pay to Get You. Range between the lowest they're hoping to pay vs. the highest they can pay.
3. During Salary Discussion, Never Be the First One to Mention a Salary Figure. Whoever mentions a salary figure first, generally loses. But at the same time don't go as far in this game of chicken to not determine a salary before ending the interview, you can't just assume that you'll automatically get a fair wage.
4. They'll Try to Get You to Say it First. Respond with something along the lines, "well you created this position, so you must have some figure in mind, I'm interested in hearing that figure". 
5. Before You Go to the Interview, Do Some Careful Research on Typical Salaries for Your Field and in that Organization. The internet is your friend, so use it to get salary research. Try to not turn to books for your information, they become outdated too easily and quickly. Also try talking to other people. If you don't know where to look, ask teachers at a local  college and they can usually point you in the right direction.
6. Research the Range that the Employer likely has in Mind, and then Define an Interrelated Range for Yourself, Relative to the Employer's Range. Start by defining your goal. It'll be less than the person above you makes and more than what the person below you makes. You can look at their competitors for an idea of their range. Be prepared to show in what ways you will make money or in what ways you will save money for that organization. If you're dying to work somewhere but they can't afford you, offer to work part time.
7. Know How to Bring the Salary Negotiation to a Close; Don't Leave it "Just Hanging". Be sure to discuss "fringe benefits", trust me, you never realize how important these are until you need them. Be sure to get the amounts and other information you agreed upon in writing and signed. You can do this easily by Googling a letter of agreement to make it official.

And there you have it. Salary negotiation is always and scary and stressful conversation, but if you have a plan of action and research under your belt, you can enter that conversation confidently. 

Until next time,

Caitlin Campbell