Seven Tips for Negotiating Top Salaries

Some job seekers feel uncomfortable or embarrassed singing their praises in an interview. You have to convince a prospective employer that you are the perfect match for the position, and that means talking (bragging) about yourself. Though considered rude or pretentious in normal conversation, self-promotion is required in an interview.

While interviewing is difficult, some job seekers dread talking about salary even more. The question, “What are your salary requirements?” stares at you from an application and will come up in an interview as well. You hate to tip your hand early on. You never know if the number you put down is way below the salary for the position, way above or just right. You may have had a really low-paying job but had responsibilities that would merit a higher salary at another company. There is the danger of coming in so high that you are immediately disqualified, or so low that the employer brings you in at a salary way below others doing the same job (which you won’t find out about until you’re on the job).

This is not the time to appear wimpy, stumbling all over yourself. With some thought and preparation, you can confidently negotiate a salary that meets your needs with room for advancement.

1. What’s your number? Do your homework—what lifestyle do you have, or want. What about obligations like student loans, credit card bills or family financial requirements? There’s no point in taking a job that won’t pay the bills. Use your checkbook or bank statements and total up your expenses, add a little for fun, savings, vacations, etc., and come up with a desired annual salary. Divide that by 2,080 (the number of hours per year for a full-time position) to come up with an hourly rate.

2. Do some research. Internet sites like http://www.salary.com/ or http://www.bls.gov/oes/current/oes_nat.htm have salary information on hundreds of jobs. Some sites narrow the search to your state or region for more exact numbers.

3. Match your résumé with the position description. Are you a perfect match, or are there gaps that could impact salary negotiations. Be ready to state your case.

4. If you are asking for a higher salary, point out the added value you bring to the company. Many job seekers who seem “overqualified” are a bargain, even at a slightly higher salary, due to added experience with a proven track record.

5. Aim high (or at least a little higher). If you don’t know what the salary range is, pick a number slightly higher than the norm. It is always easier to go down than up.

6. If the job has lots of potential and is tailor-made for you, there are other negotiating points that will put money in your pocket. Ask for an early review with a possible increase based on performance. If you’re paying COBRA rates for insurance, ask to drop the benefits eligibility period so you can start lower cost employee benefits right away. Will the company pay for your professional memberships or continuing education courses? What about a company-paid cell phone, laptop or home internet access? An extra week of vacation will put another week’s pay in your pocket.

7. Think it over. Money left on the table is lost forever. The intent is not to make them sweat, but to give you a chance to collect yourself and make sure you’ve made the best deal. You don’t want to start your new job with regrets or resentment.

What negotiating tactics have worked for you? Share your secrets to getting the big bucks or post a question in the Comments section below.

Mary Nestor-Harper, SPHR, is a consultant, blogger, motivational speaker and freelance writer for BusinessWorkForce.com. Based in Savannah, GA, her work has appeared in Training magazine, Training & Development magazine, Supervision, BiS Magazine and The Savannah Morning News. When she’s not writing, she enjoys singing with the Savannah Philharmonic Chorus and helping clients reinvent their careers for today’s job market. You can read more of her blogs at businessworkforceblog.com and view additional job postings on Nexxt.