You’ve worked hard to secure that job offer and may be eager to sign the agreement and get started. However, it’s important not to miss the important step of negotiating a suitable salary for all the hard work you will be committing to in the upcoming months or years. Your salary requirements may be the deal breaker for many companies and you’ll want to avoid some common mistake when negotiating your wages.
Use the following tips to help you negotiate the best salary.
1. Be prepared.
Almost every employer will ask what your salary expectations are, and this usually happens during the screening process or the very early stages of the interview. Employers want to screen out candidates that they simply know would not be a good fit for their budget. It’s always a good idea to anticipate this question and be prepared to answer with confidence so you don’t end up getting nervous or suggesting something well below what you deserve. Do some research about the company and similar positions in the area so you have some realistic figures to work with.
2. Don’t lie about your salary history.
Many job seekers make the mistake of stating that they are earning more than they really are so they can get a high offer from an employer. However, this can get you in trouble when the employer checks in with your current employer or requests a recent pay stub of earnings. If you are caught lying or you even manage to start the job and then the company discovered you were lying, you may end up losing the new opportunity entirely.
3. Understand that the company will have salary budgets.
Employers are working with budgets and will try and maximize their human resources at the most effective cost. Even if you are applying for an upper management position, the financial or accounting department or a prestigious position with bonuses and other perks, you can expect the company to work within their compensation framework to bring you on board. This is why you do need to do your homework and find out what the salary would be for your position and go from there. Even if you have never earned that much before, be confident when asking for the salary and see how they respond. Working with a recruiter gives you an advantage because the recruiter will be able to negotiate the best salary for you based upon the company’s budget.
4. Always think about other benefits.
If your prospective employer simply won’t budge on their salary offer — or they are offering a lower salary than you anticipated — consider any other benefits that come with the job. Is the office within a short drive of your home so you don’t have a long commute? Do they offer an onsite fitness center or employee lunches? Do you have extra paid-time-off and extended vacation days? Does your employer offer comprehensive health and life insurance benefits? All of these extra benefits can offset some of the difference in salary expectations.
If you need help on your job search, consider working with a top financial staffing firm in Chicago in Casey Accounting & Finance Resources. We can position you in front of jobs with attractive salaries and benefits. Contact us today!