As recruiters in Houston, TX, Murray Resources understands salary negotiations is a dreaded part of the hiring process for many job candidates. While you want to secure the best offer, going about it can feel like walking on a high wire. Ask too much and you’ll get shot down; too little and it can impact your quality of life, as well as your future earning potential.
So when you’re doing the salary negotiation “two-step,” what strategies should you take to make the process go as smoothly as possible?
Step #1: Know the Numbers
Too many job candidates rely on employers to determine a fair compensation for the job. But if you want to secure a better offer, then you need to spend some time researching how the employment market values someone with your skill set. Just a few thousand dollars more can make a big difference over a period of time. And when you know the facts and numbers, you can justify your case for your salary expectations.
Step #2: Know Your Bottom Line
Before you buy a home, for instance, you know what your budget is. Before you walk into salary negotiations, you need to know what your bottom line is. In other words, what are willing to accept if you don’t get the exact offer you want? You’ll need to crunch some personal financial numbers to come up with the right figure. But think it through ahead of time so you don’t get stuck in a sticky situation, left accepting an offer that’s too low.
Go beyond salary too to vacation time and benefits. Are less days off more important than a bigger paycheck for you? Or is a more flexible lifestyle an important objective? Identify what you’re aiming for before you walk into any negotiating sessions.
Step #3: Know the Right Questions to Ask
Once the offer is made, you’re going to want to feel it out by asking some questions. For instance:
• Is the job offer negotiable? This is a tactful way of inquiring whether or not there is wiggle room in the offer. In most cases, there is. However, there are certain instances where there may not be much, if any, room to negotiate and it’s best to know immediately. Asking this gets the ball rolling into negotiations.
• Does that include base pay only? Total compensation includes benefits; base pay is salary only. Asking this question is an easy icebreaker into talking about benefits.
Step #4: Know the Benefits
When negotiating salary, many candidates assume benefits are firm. But, in fact, they’re often negotiable too. So don’t leave any on the table. Inquire about health insurance, retirement plans, bonuses, vacation time, and flex scheduling. This is especially important if the base salary is lower than you’d like because you may have more leverage to negotiate a a better compensation package.
The point to remember is that as a job candidate, you have the power to negotiate what you want to earn. Don’t concede it. Take your time, stay focused and confident, and know when to walk away from the table.
Need more help negotiating your way to a new job offer? Let Murray Resources know. As recruiters in Houston, TX, Murray Resources can not only help you find out about great job opportunities, but we can also help you navigate your way through all aspects of your job search. Contact us today to learn more.