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Salary Negotiation Mistakes To Avoid by C. Vaughan

You’ve done it! You have gotten your first interview out of the way, and they want to hire you. Now you have to work out the fine details of employment. When it comes to salary negotiation, beginning the process by saying as little as possible is very important. The biggest mistake can be simply calling out a number; if you speak first you might be cheating yourself out of a lot of money. Let the employer speak first. And keep in mind that salary can encompass more than a paycheck.

First, check out the other details of your employment contract very carefully and ask about anything unclear. The amount of money you could be making comes at the very end of the negotiation process. It is more important to know what you are agreeing to concerning job duties, reasons for dismissal, and so on. But when it does get to the part about money, consider paid vacations, sick pay, and other perks as part of the salary negotiation process. Salary can include paid vacation days and include reimbursement for travel, clothing allowances, and more. Things that the employer will be providing you that you would otherwise be paying for yourself should be counted towards your total pay, at least in your mind. It will be difficult to predict the exact dollar value of any extra perks, but they should still be considered. If the salary being offered to you seems low, take the perks into consideration. You might be getting a good deal after all.

As for the actual negotiation process, keep quiet and let the employer do the talking. They know what they are willing to pay but will typically start at a lower level and plan on negotiating up. They just tend to hope that they “buy you out” at a good price. To keep from getting undercompensated, check out the statistical average for a job of your type on a national average, and maybe data from other competing companies. This will give you an idea of when to accept. Just like the employer, start out high and negotiate towards them. In the bartering process, actual pay could be sacrificed for the addition of perks and reimbursements. Finally, when the agreement is reached, read the offer letter carefully before signing it and ask any questions. Ideally, the negotiation process should be smooth and quick. But if you are having difficulty difficulty during the negotiation process, keep this in mind. It could be an insight into the job you are about to begin.