The first step to achieving what you deserve is understanding your worth. You offer more than a report, website tweak, or paycheck. You deliver real solutions for your clients that save them time and stress. This is critical when it comes to negotiating compensation and benefits during your job search.
Interviewing for a job can be a roller coaster of emotions, but salary negotiations can be incredibly intimidating. Use these ideas to make the process less stressful.
Know Your Value
When negotiating your compensation and benefits, knowing your worth can be an essential factor in the process. To ensure you're getting paid what you deserve, it's a good idea to research before entering the conversation. Several services can help you determine the average salary for your position in your industry.
If you find that the salary offered doesn't meet your needs, don't be afraid to make a counteroffer. This can seem ungrateful or pushy, but you must ensure you get the job and salary that best suits your career goals.
Interviews diverse women about determining their worth, asking for what they deserve, and trailblazing forward in their careers. Combining personal stories with the latest research on why women don't negotiate and why negotiating aggressively usually backfires, this book is a must-read for professional women of all ages.
Know the Job
Most professionals agree that it is best practice to conclude negotiating compensation and benefits before accepting an offer. In the long run, skipping this step can cost you.
When deciding on your numbers, consider the salary range for your position and what you think is a fair wage based on your experience and education. If your initial proposal is higher, the employer will likely beat it down. Choosing a specific number can help you make your case more effective.
Also, be clear on what you'd like in your compensation packages, such as signing bonuses, work-from-home options, flex time, and more. If your potential employer is unwilling to bargain, this will allow you more freedom. Research shows that job satisfaction largely depends on more than just the paycheck. Other factors include responsibilities, opportunities for advancement, and your day-to-day relationships with coworkers. You can't always control this, but you can influence it.
Know the Company
Research about a company can help you during three pivotal points in your job search: when deciding whether to apply, during the interview process, and the final negotiations. By looking at a company's website, reading local news items, browsing forums, and reviewing business periodicals, you can learn more about it.
Additionally, you can research the business on websites to see what current and former employees say about it. This can help you find information about its culture, mission, and values. It can also give you a good idea of how much it values innovation, social causes, and diversity initiatives.
Finally, it would help if you looked up the company's financial stability and product offerings. Having this information can make you more confident when answering the interviewer's questions about what you know about the company. This knowledge can help you negotiate better compensation and benefits for yourself. It can also help you avoid being taken advantage of during the negotiation process.
Whether deciding when to leave a job, choosing between two jobs, or making a counteroffer during an interview, knowing your career and work values can help you make intelligent choices. For example, if you value learning opportunities, you might want to research a company's commitment to education and training or its support of industry conferences and workshops.
Non-salary benefits, such as retirement saving plans and flexible work arrangements, are also worth considering when evaluating a job offer. In addition, it's essential to assess your needs and priorities when negotiating compensation and benefits, such as health insurance or vacation days.
Once you've identified your core career and work values, practice articulating them compellingly and persuasively. This can prepare you for questions and objections during negotiation so that you're confident in your ability to ask for what you deserve. A strong voice is the best tool you have for negotiating.