Job Success Skills Salary Negotiation July 2004
Salary Negotiations BEFORE the Interview • Employers ask your salary requirement on application • Salary range printed in advertisement • Salary History requested What to do…
Written Response Options • Avoid the question on the application • Write “negotiable” on application • State current salary but write “negotiable” • State earning market value for position • Give range in which low-end is 10% above current salary
During the Interview How to Respond • “I’d like to table the salary discussion until we’re both sure I’m right for the position” • “I feel salary should be based on responsibilities of the job and industry standard” • “What would a person with my skills, experience and responsibilities expect to earn with your company”
Employers Three stages of thinking 1. The Budget Stage 2. The Fudgit Stage 3. The Judgit Stage
The Budget Stage • Most rigid – trying to live within means • When employers first start talking • Looking to spend as little as possible • Screen out people not within that range
The Fudgit Stage • Willing to shuffle expenses if necessary • Employer “thinks” they may be able to meet your salary • Not a stage to reveal current salary or needs
The Judgit Stage • Employer see applicant as an asset not liability • Employer makes an offer in line with expectations
Be Prepared • Know your market value • Never be the first to bring up salary • When salary presented ask about benefit package • Never turn down position based on salary at interview
How to Determine Your Market Value • Contact Professional Organizations • Use your network – ask friends • Check with local employment agencies • Check the Internet
4 Possibilities When Salary is Raised at Interview 1. Salary range is acceptable 2. Only top of the range is acceptable 3. Entire range is unacceptable 4. Interviewer doesn’t give a range
Scenario #1Range is Acceptable Employer: "The salary range for this position is $xx,xxx to $xx,xxx. Are you able to accept a salary within that range?" Response:"I appreciate your confidence and want to bring my talents and skills to work for this organization. The range is within my expectations depending on the entire salary and benefits package."
Scenario #2Only Top of Range Acceptable Employer: The salary range for this position is $xx,xxx to $xx,xxx. Are you able to accept a salary within that range?" Response: "Thank-you for asking me to be a part of your team. I know I will be an asset to the organization. Based upon my research I would have to say that only the upper end of that range would be acceptable."
Scenario #3Entire Range is Unacceptable Employer: "The salary range for this position is $xx,xxx to $xx,xxx. Are you able to accept a salary within that range?" Response: "Thank you for the offer. I want to bring my skills and talents to your organization. The other companies I am currently speaking with, however, are considering me at a salary somewhat higher than that range. Of course, money is only one element, and I will be evaluating each overall package."
Scenario #4No Salary Range is Offered Employer: "We want to get you onboard. What kind of salary would it take for you to accept a position with us?" Response: "From my research, $X is around the base level for salary for this type of position. Considering my enthusiasm and my general success in the things I set out to do, I believe I’m worth mid-range, say $Y. What can you do in that area?"
Final Thoughts • Remember money is not the only consideration • Do not turn down position expecting a counter offer • Think outside the box and negotiate • Be polite, don’t take offer personally, may be all employer can afford