Not much
makes job-seekers more anxious than negotiating--or even discussing--salary.
After all, you might ask for too much, ask for too little, or otherwise
sabotage your own chances of getting the best possible salary. Negotiation will
go more smoothly if you know what landmines to avoid.
When it
comes time to negotiate salary for a new job, make sure that you don't make
these 10 key errors:
1.
Being unprepared: At some point, employers are likely to ask
what salary range you're
looking for, possibly as soon as their first contact with you. If you're caught
off-guard, you risk low-balling yourself or otherwise saying something that
will harm you in salary negotiations later. It's crucial to do your homework
ahead of time so that you're ready when the question comes up.
2. Negotiating before you have an
offer: There's no point trying to negotiate before you have a job offer;
after all, the employer still hasn't even decided if they want to hire you.
Your leverage will be far stronger once someone is certain that you're the one
they want.
3. Relying on online salary sites
to give accurate information: While salary sites might seem like the most
obvious way to figure out what to ask for, these sites are frequently
unreliable, in part because the job titles they list often represent wildly
different scopes of responsibility. Professional associations in your industry
might do more reliable salary surveys, but even then, you're more likely to get
the right range by talking to people in your field.
4. Discussing salary in your cover
letter: Some candidates announce their salary requirements in their cover letters without
being asked, and some even include their salary history on their resumes.
There's no reason to talk money at this stage, and doing it unprompted at the
application stage can come across as naive.
5. Citing your finances: Salary conversations should be solely about your value to the company, not
about your own finances. Employers don't pay people based on financial need, so
don't cite your mortgage or your kid's college tuition as a reason you're
asking for more money.
6. Asking for too long to respond to an
offer: It's normal to request a few days to consider an offer, and
sometimes employers will give you a week or so. But if you ask for much time
beyond that, you risk signaling that you're not excited about the job, but might settle
for it if you don't get any other offers. That's a good way to lessen the
hiring manager's enthusiasm and bring into question your own.
7. Not factoring in the benefits package.
Salary is only one part of a compensation package; you also need to factor in
benefits like healthcare, retirement contributions, and paid leave. After all,
if you'll be paying significantly more for healthcare or receiving fewer paid
vacation days than you're used to, that might cancel out part of any salary
gains you hope to make. On the other hand, being able to work from home or
having an on-site day care might be benefits that make it worth it to you to
take a slightly lower salary.
8. Underestimating happiness as a
factor: A higher salary generally won't make up for a job where you'll be miserable, so think carefully about factors other than money: the work
you'll be doing, the people with whom you'll be working, the company culture,
and even the length of your commute. It might be worth giving up a bit of extra
pay to ensure that you're happy going to work every day.
9. Listening to bad advice: Negotiation advice that worked a few decades ago isn't always effective now. In
fact, some of it can hurt your chances. For instance, delaying the salary
conversation as long as you can or refusing to name a figure first--common
advice in previous generations--can backfire today by turning the employer off
and making you look like you're playing games.
10. Not negotiating: Whatever you do, negotiate. If you simply
take the first salary you're offered, you'll never know if you could have
received more by simply asking.
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