After the joyous occasion of receiving a job offer letter, there’s only one minor problem: the company is offering a salary at the very bottom of the pay range discussed in the interview. Furthermore, the company isn’t paying market rate for the position; in fact, it is paying far under the salaries of most workers in the respective field of work. So what to do?
Salary negotiation is an art form that requires tact, professionalism, and forethought. Attempting to negotiate salary without knowing how to broach the subject may result in losing the job offer altogether. However, a properly executed salary negotiation may result in the higher pay rate the new employee deserves.
What the Job Seeker Should Know before the Interview
Before the first telephone or in-person job interview, the candidate should research the current market rate for similar job titles in his or her local area. Remember, pay rate is determined by a variety of factors including experience, level of responsibility, and geographic area. Performing an internet search for the terms salary calculator displays numerous websites dedicated to researching median base pay for local jobs.
Salary Negotiation before the Job Offer
If the job interview goes well, the employer will most often ask the top candidate what he or she is looking for in terms of salary. The first answer should be that the candidate is flexible in negotiating salary. The next answer should be given in the form of a salary range, for example, “Between $45 and $50 thousand dollars per year.” Other tips include
- knowing salary requirements based on current financial situation and salary research
- preparing a list of previous companies, dates worked, and compensation for each job held
- not stating a specific salary amount, but rather a general salary figure (e.g., low 40s)
- factoring in cost of living adjustments if moving from or to another state
- showing flexibility and willingness to negotiate
Things to Avoid in Negotiating Salary
When negotiating salary with the employer during the job interview process, the candidate must first know his or her salary requirements and must have researched the market rate for similar positions in the local area. At the same time, the candidate should never
- address salary history on the resume
- compare salaries of colleagues in other fields
- discuss financial situation with employer (e.g., kids, high mortgage payments, car payments)
- exaggerate pay rates from previous positions
If the Employer Lowballs Salary Offer
Though it doesn’t happen very often, employers will occasionally lowball the candidate’s salary in the official job offer letter. If the employer does not attempt to meet the prospective employee in the middle, the candidate has the option of contacting the hiring manager by telephone or email and tactfully requesting for the salary to be bumped up more toward the middle of the requested pay range.
The Bottom Line on Salary Negotiation
Bottom line, the art of negotiating a higher salary requires forethought, practice, research, and finesse. Most often, employers will make a good faith attempt to meet the top candidate in the middle; but should this not happen, the prospective employee has the option of requesting final salary negotiations with the hiring manager. In either case, learning the fine art of salary negotiation is essential to landing a more competitive salary.
See related articles, “Best Ways to Prepare for a Job Interview,” “10 Steps to a Successful Job Interview,” and “Questions to Ask During a Job Interview.”
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