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When To Prepare For Salary Negotiation

Most job seekers wait until the last minute to prepare for salary negotiation.

When interviewing for employment, two words need to come into play: 1) Prepare and 2) Strategy. The definition of prepare is: “put together, to construct, build, assemble. So, think about it this way……constructing or better yet, planning your negotiation……the process of making plans for something. The definition of strategy is a plan of action designed to achieve overall or major aims.
 
Many, if not most, don’t “plan” a salary negotiation process. Jobseekers oftentimes decide on the figure they think they need while interviewing….with the anticipation of getting an offer. Rather than “shooting from the hip,” think about how planning your salary negotiation strategy will give you a better chance of resulting in the outcome you want.
 
So, the first question is: When do I start planning?
 
The best time to start planning is BEFORE you even have an interview. Have you maintained a budget for your current expenses? It is better to itemize more than one month of expenses. Identify fixed expenses, such as electricity, food, gasoline, insurance, etc. This budget could include funds for any unexpected expenses, such as medical bills, entertainment, etc. 
 
Items to negotiation include insurance benefits, bonuses, paid or extra vacation time, flextime, commissions, stock options, paid maternity leave, gym memberships, tuition reimbursement, a signing bonus, professional development, and moving expenses. 
 
Several job boards identify specific salaries according to job title and city/ state. Some good references are Glassdoor, Salary.com, SalaryExpert, Indeed.com, and the Bureau of Labor Statistics: “Occupational Outlook Handbook.”
 
Things to remember:
 
1. You can earn more money…the average American leaves $5000+ on the table per year
2. Be realistic in deciding the increase you are  hoping for
3. Employers expect you to negotiate 
4. Most employers don’t rescind a job offer because of negotiations during an interview
5. People who advocate for themselves are seen in a more positive light
 
 AND:
6. Don’t mention salary first. Keep it out of the conversation during the first interview. At that point, you don’t have enough information to even discuss salary.
7. Have a range in mind rather than a number.
8. Know the lowest salary number you would consider
9. Request benefits in writing
 
For a free ½ hour consultation, please go to.confidencebuilder.net and answer the three questions on the homepage.

 

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