Salary Negotiation Report

To view report as PDF file click here.

Edelia Hernandez

04/18/16

BUS 300GW

Shari Weiss

 

Introduction

Congratulations you’ve just graduated! The search for a job has been tough but you’ve managed to get an interview for the job of your dreams. Now you wonder how to prepare for your interview and how to make the most of it. You want to land the job but also want it to fill your needs financially. Negotiations can seem tough at first, but once you’ve done it a few times you can become an expert at negotiations. There are four steps that can help you to achieve your salary goal and make an effective negotiation.

Preparation

In preparing for a negotiation it is important to research the job and yourself. When researching yourself find what you’re worth. Know what skills set you apart from other employees and understand why your experience makes you a valued member of the team. It is also important to know your financial needs. How much money do you need to make to support yourself, pay your bills, and benefit you in the long run? By setting financial goals it will help you to establish a firm idea of what you are looking for in your pay scale.

When researching the job, make sure to understand what your expectations and responsibilities are for the position you are applying for. You should also look up the average salary of employees in similar positions as the one you are applying for. You can easily find these online. Take a look at the company’s website to find more background information on the company before your interview. This will prepare you for any questions they may ask you involving the company and will show that you did your research on the company. The more you know about the company beforehand will impress the interviewer and make them want to invest in you.

Avoid salary negotiations until offered the job

It is important to sell yourself as the ideal candidate to the interviewer. Show your strengths and make it clear to them what you can do to benefit the company. At some time during the interview the interviewer may try to talk about salary before the initial job offer. If this occurs try to avoid it by steering the conversation in a different direction. Once the company has decided you’re right for the job that’s when you talk about money, never before.

Let the other side make the first offer

Once you have been offered the job position that is when the salary negotiation starts. If you have never negotiated salary before this may come as a bit nerve-racking. Practicing negotiating before your interview could help you to feel more comfortable and come off confident during your negotiation. You can practice by prewriting your points on paper, speaking out loud with a friend or family member, or just practicing out loud in the mirror. Take notice in your voice and body language.

During your negotiation make it your goal to not make the first offer. Let the interviewer provide a salary range before you so that you have an idea of what budget they are looking for. Once you are given an offer show gratitude, but do not accept the first offer. Give them a counter offer. Use a range for both them and you to work with so you don’t undervalue yourself. Explain to them why you believe this range is more suitable by discussing your skills, education, and accomplishments. When negotiating the offer, stay respectful, remember you are building a relationship with this person.

Accept or decline the offer

Now that the final offer has been put on the table you have a choice to make. Are you going to accept the offer or walk away from it? If you accept the offer be gracious and appreciative. Show enthusiasm and excitement about joining their team. Make sure you get everything in writing before leaving. If you decline the offer do it graciously and respectfully. Thank them for their time in person and in an email. Then keep searching. There are plenty of opportunities still out there for you in your career field.

Conclusion

In conclusion, with the proper preparation you will be able to get through any interview. Selling yourself the right way to the interviewer will make them think you’re the perfect fit for the job. Once the job has been offered they will discuss compensation. After careful negotiation tactics and standing a firm ground you will either accept or decline the job opportunity. Negotiations may come up when you are first offered the job or when you’re looking for a raise or promotion. No matter how negotiation may come about, following these four simple steps will allow you to face any negotiations that come your way.

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