How to Negotiate Your Accounting Salary

Whether they're interviewing for a new position or facing a yearly review, many accountants are facing the somewhat daunting task of negotiating their salaries. Salary negotiation can be challenging, particularly in today's tough job market, but that doesn't mean you should settle for a job salary that's lower than you want. Here are a few tips for getting paid what you feel you're worth.

1. Conduct research on market rates. Knowledge is power. Specifically, knowing what the going rate is for a particular accounting position can help you avoid asking for too much or too little. Resources like Nexxt's Salary Center and the U.S. Bureau of Labor Statistics can be immensely helpful to you in finding out what the job salary range is for your position. In addition to knowing the average pay range for your job, consider the cost of living in your area. People who reside in large metropolitan areas like New York City can usually ask for more because it is more expensive to live there.

2. Delay the question. If you are interviewing for a job and the interviewer asks the salary question early in the meeting, try to put off answering it until you are able to properly sell yourself. Answering with a number that's too high may knock you out of the running, while a number that's too low may make the interviewer question the value or quality of your potential contributions. If the person persists, turn the question back to the individual by asking if the job salary conforms to the averages for the accounting position you're applying for.

3. Prove your value. Negotiating your job salary basically comes down to convincing current or potential employers that you're worth the investment. This is when your research will come in handy. Identify key areas where your talents, skills, and experiences can significantly benefit the company. An employee should enter the salary negotiation meeting armed with examples of his or her contributions to the company.

4. Avoid undervaluing yourself. Most hiring managers do not start with their best offer, so you shouldn't feel like you have to take what they give you. It's important to understand this because extenuating circumstances—long-term unemployment or a slow economy, for example—may make you feel as though you have to settle for whatever you can get. Be honest about your needs and push for the wage you feel is fair.

In the battle to get the job salary you want, you'll need a certain amount of flexibility. If the company is unable to give you the job salary you're requesting, it may agree to provide other benefits that are more valuable, such as health insurance. Consider the entire package and choose the option that you feel is fair and supports your goals.

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