It’s no surprise that many people don’t feel comfortable asking for more money once their job search is complete and they have an offer in front of them. If the pay is reasonable, they don’t want to jeopardize the opportunity now that they’ve come this far. And some job seekers are even more likely to feel this than they did before COVID-19 arrived.
Even with a larger labor pool, companies still face competition from other companies looking for the same candidates. That’s why the most in-demand professionals can always enjoy competitive salaries.
If you have specialized skills and an impressive resume, you could be leaving money on the table if you don’t negotiate a salary offer. Thirty-six percent of managers recently surveyed by Robert Half said they are more likely to negotiate a starting salary with new hires than a year ago; another 50% said they were as likely to do so.
Still, it would be a mistake to jump into the starting salary discussion without proper preparation. Most hiring managers will give you a chance to think about the offer and won’t expect an immediate response.
Here are eight tips on how to negotiate a salary that can help you tactfully and confidently ask for what you want.
1. Familiarize yourself with industry salary trends
You should enter a salary negotiation as informed as possible. Information is your best ally. To get a current and realistic view of the compensation landscape in your field, check out Robert Half’s 2021 salary guides. You will find the current rate for your position and your level of experience. Use our salary calculator to adjust national figures for your geographic area.
Pay particular attention to the In-Demand Positions or Critical Roles sections of the Salary Guides. You can respond to the job offer with more confidence if you realize that you are in the running for one of the hottest jobs around. The employer may struggle to find someone with enough skills and experience, which opens the door to higher salary negotiations.
Also interesting: While 44% of managers surveyed by Robert Half said they had made no changes to starting salaries, 28% had increased them since the start of the pandemic.
2. DO NOT FAIL to build your case
Once you get the salary offer, don’t just counter with a higher number. Even if your research backs it up, you’ll be more successful if you explain why you think you deserve more. Highlight your strengths, detailing any extras the company would get from someone with your background.
Before you negotiate, write down concrete examples of how your skills and experience will benefit the bottom line of your new venture. Having certifications or specialized technical skills, for example, can improve your ability to do the job, so be sure to mention them. Matching your strengths to the role you’ll be taking on will make it clear why you should be paid more than the original offer.
3. Don’t stretch the truth
Complete honesty is paramount when negotiating salary. There’s no better way to have your offer taken down than having a hiring manager find out that you made up a competing job offer or inflated your salaries from old jobs.
4. Consider the pros and cons
Salary negotiations often include give-and-takes on employee perks and benefits. It may be less costly than a pay rise for the employer to give ground on additional vacation days, flexible hours or, especially today, a work-from-home schedule.
Think about what is valuable to you and what would make an offer more attractive. If you’re considering multiple offers, consider directly comparing health insurance coverage, retirement savings plans, and other benefits to make an informed decision. Also consider benefits such as professional development opportunities with the potential employer.
5. DON’T steal it
This may seem like overkill to some people, but it’s a good idea to ask a friend or mentor to practice with you the conversation you’re likely to have with the hiring manager. The ideal partner is a person of the world