The Best Salary Negotiation Tactics

The Best Salary Negotiation TacticsThe Best Salary Negotiation TacticsSalary negotiations can be tricky business. Unless you havethe inside scoop on what an employer is willing to offer, you may come in too high when asked about your salary expectations and then price yourself out of a job offer. Coming in a little bit high is one thing, but if you ask for a salary that is thousands of dollars mora than the company has budgeted for, theres no room to negotiate. On the other hand,its important to get paid what you are worth you dont want to be taken advantage of. You also dont want to end up resenting your boss for underpaying you. And, obviously, you need to earn enough to pay the bills. Whats the best way to negotiate salary? These salary negotiation tactics will help you negotiate a ritterlich compensation package. Here are salary negotiation tactics including how to evaluatea job offer, negotiating salary and benefits, and how to makea counter offerif you want to get a higher sal ary when you receive a job offer from an employer. Top 5 Salary Negotiation Tactics 1.Be PatientWhen you are interviewing for a job and want to discuss salary, be patient. Try not to bring up compensation until the employer makes you an offer. If, during an interview, the employer asksyou what yoursalary requirementsare, say thatyouare open-minded based on the position and the responsibilities of the job. 2.Evaluate the Job OfferOnce you get a job offer, evaluate it carefully. There are more factors that come into play than justthe base salary. For example, you might wantto inquire about the possibility of a commission, bonuses, and projected salary increases, as well as benefits, hours, and promotion and growth opportunities. All of these factors affect youryear-end net income and availablespending power. For instance, the position may pay less than youd hoped for, but if the medical and dental benefits are generous, that could potentially save you thousands of dollars a year i n medical bills. For each potential position, record this information in an organized checklist and compare the pros and cons in order to make an informed decision. 3.Consider a Counter OfferOne of the best ways to open up discussions after you have received a job offer is to ask for a meeting to discuss the offer. Here is acounter offer letterandcounter offer email homilieyou can use to initiate the conversation if you plan to make a counteroffer. 4.Research What Youre WorthTake the time to research salaries for the particular job youre looking for. Information is power. Once youve done your homework youll be better equipped to get what youre worth in the marketplace. There are a few good online resources that can help you with your research. One is Glassdoor.com, which allows you to research individual companies, see the salaries that people in specific positions have earned, and review current and past employees opinions about the employer and their jobs. This website also has a trademarked Know Your Worth calculator that allows you to discover your current worth in the job market (based upon your current job), find out if youre being paid fairly, and discover ways to increase your salary. Other sites with online salary calculators (besides Glassdoor.com) include Salary.com, PayScale.com, Indeed.com, and LinkedIn.com. There are also cost-of-living and paycheck calculators you can use to determine your expenses and how much youll net in your paycheck. Keep in mind that you may have to register for these sites most are free to use, but a few require paid memberships. 5.Take Your TimeWhen you receive a job offer, take some time before you make a decision. Ask the employer any remaining questions you have, even if they seem inconsequential. Its perfectly acceptable to ask an employer for time to consider the offer. In fact, most employers will respect you for taking the job, and job offer, seriously.The best way to gain and utilize the extra time you need to ma ke your decision is to confirm the employers deadline for a response, ask for more information about the compensation package and employee benefits, and enter negotiations about the offer and the start date for your new job. More Tips for Negotiating a Salary Because negotiating is not just about a job offer, here are somesalary negotiation tipsand strategies for successfullynegotiating a compensationpackage or a raise.