When attempting to negotiate salary and benefits with an employer, you should be aware that it is a delicate situation. If you back off too quickly, you could lose out on more money or better benefits; however, if you push the issue too far, you’ll wind up without a job at all. Following are several helpful tips on how to negotiate salary and benefits.
How to Negotiate Salary & Benefits: The Earlier the Better
When interviewing for a new job, your prospective employer should already know the salary and benefits you are requesting. Most professionals put salary objectives on their resume while others prefer to discuss it in person; either way, the sooner the employer knows your bottom line, the better. There is no reason to waste your time or the employer’s when your salary and benefit requirements aren’t compatible. Further, you will establish early on that you have an objective, which will give the employer a heads-up that you plan to negotiate the first offer.
How to Negotiate Salary & Benefits: Maintain a Respectful Decorum
You shouldn’t enter into salary and benefits negotiations with the mindset that you are doing battle with an adversary. Instead, approach it from a mutually beneficial standpoint; higher salary and better benefits equal a more productive employee. Never make demands or issue ultimatums because, not only is it counter-productive, but employers will not waste time with someone they don’t consider a team player. If you notice that the employer is getting peeved, back off right away. You’ll have to use communication and interpersonal skills to gauge your progress.
How to Negotiate Salary & Benefits: Look at the Big Picture
It is rare for an employee to be offered both salary and benefits commensurate with what he or she desires. Something will have to go give, so you should be sure to look at the big picture. For example, let’s say that an employer’s final offer is 15% lower than your objective. Right off the bat, you might not be interested in the offer because it is significantly lower than what you desire. However, analyze other aspects of the job. For example, is there an employee evaluation in six months? If so, you could easily close that 15% gap just six short months into your employment. Things like that should have bearing on your final decision.
How to Negotiate Salary & Benefits: Give the Employer a Reason
If you are attempting to negotiate salary and benefits after you’ve already started work — for example, one year later — your negotiation platform is slightly different. At that point, you have had an opportunity to demonstrate your skills in the position for which you have hired, which may or may not give you a bargaining chip. Evaluate your strengths and weaknesses and document the progressive, positive changes you have made. If the number of employees under your command has increased, this is a significant negotiation benefit. If you can give your employer hard data that shows you have been a major asset to the company, you’ll be more likely to obtain a raise. Further, you shouldn’t assume that your employee has noticed everything that you have done. He or she oversees a large group of people.
How to Negotiate Salary & Benefits: Get it in Writing
If you have been offered a higher salary or better benefits, make sure to get that promise on paper right next to your employer’s signature. As I’ve mentioned before, employers have a lot on their plate, and they may not remember making such a promise. Others are unscrupulous and may try to back out a few weeks down the road. As soon as you have been promised something concerning compensation, have your employer draft an agreement to that end.
