Just because you are fresh out of college it does not mean you cannot negotiate for a better salary than what is originally offered. Provided your skills are in demand and you are not in a market which is saturated with qualified personnel then there will be room to maneuver. The following tips will help ensure you negotiate an excellent salary to start your working life:
- Everyone’s a winner
A good negotiation will result in both parties winning. If one party has a triumph over the other then there is likely to be issues further down the line. In the case of negotiating for your salary, if your new employer wins and you get less than you feel you deserve you will be likely to leave when better employment is found. If they really cannot budge on their salary offer then it should be possible to increase the benefits to compensate.
- Go first and don’t be shy to ask what you want and deserve
Making your offer first does not just get the ball rolling. It provides the base figure for the negotiation. Whilst your employer may feel they are getting a bargain if you are happy then that is what matters. It is usual for a first offer to be on the high side so ensure your opening offer is higher than what you actually want; give yourself room to maneuver.
- Research is bliss
Before going into a negotiation, particularly for a salary it is essential to do your research. Check the market and what other, similar employers are paying for the role. Once you know your own worth you will be able to suggest a figure confidently. You will also know when to say no, safe in the knowledge you can get a better figure elsewhere.
- Salary is not everything
A fantastic wage can quickly be eaten by healthcare costs or by paying for your ongoing training. Sometimes it is better to accept a lower salary but with a good range of benefits. Always consider the options and look at the whole package. Working remotely, advancement opportunities and stock options are all worth considering.
- Active listening can help you get what you want
Negotiation is a two way process. The most important part is to listen to what the other party is saying. This way you will understand what they need and this will enable you to structure your offer to ensure their needs are met. At the same time you will be able to factor in the best possible package for yourself. It goes back to the win / win scenario. It can also be a good opportunity to clarify the offer or position by restating it back to them.
- Call to action
A call to action is used frequently in sales to make people take the next step. The same is true in your salary negotiation. You need your prospective employer to confirm that the job is yours if this salary or package is taken. It is essential to close the deal there and then; before the matter can be thought about any further.
This connects with listening. You may think you know what the other party is looking for. However, if you listen you may find it is not what you think or that there is more available. Entering a negotiation with an assumption leaves you unable to adapt and locate an even better package or offer. New information provided in the negotiation process can change the way you approach the entire meeting or job and you need to be able to adapt to this. You may well find an issue you wanted to raise is clarified before you even have to ask. Assuming something will leave both parties without a long term workable solution.
College students find it tough to negotiate a killer salary package. But it’s not something impossible to achieve as long as you know your worth. Speak up and let hiring managers see that you have potential. Make eye contact and don’t panic if you mess up. Last but not least, don’t make claims you can’t back up with solid proof. With a bit of luck, you might just land the job of your dreams.
By Christopher Austin and TheGapPartnership.com!