The Art of the Deal: Tips for Negotiating Your Pay

October 27, 2016

Securing your dream job represents a lot of changes in your life.  It’s a stepping stone toward your ultimate life goals.  It’s validation of all your hard work. But most important, it’s a major increase in your bankroll.  When it comes to negotiating the pay for your new gig, things can get scary. Will the offer be rescinded if you ask for too much?  Are you being lowballed if you take the first offer? There’s a few key things to keep in mind to ensure you land on the best number possible.

  1. Don’t Take the First Offer

As excited as you are about this new opportunity, don’t let the adrenaline rush overpower your common sense. Take down the information and ask for at least 24 hours to mull it over. Most employers won’t object to this. Think about your salary expectations. Is this number in line with what you wanted or is it time to counteroffer?

  1. Ask About Benefits First

Part of your offer package should include benefits. Vacation time, 401K, bonus structure and insurance are all things you need to know about before saying yes. Not only do these aspects factor into the total value of your package but they can also be bargaining points if they don’t fall in line with what you’re looking for.

  1. Save Base Salary for Last

When you call your potential employer back, don’t jump into base salary first. Instead, hammer out all the other aspects and take solid notes. For your last question, bring up the base salary. But instead of going for an exact number, politely ask if there’s any wiggle room. You’ve already disarmed your hiring manager by talking about other subjects first. Plus, asking in a less direct way almost always leads to a higher offer.

When you take the time to do your homework (and calm your nerves), salary negotiations can be a winning factor in securing the job of a lifetime.