Finding extraordinary engineers for exceptional clients

The Art of Negotiation: Know Your Value!

May 3rd, 2012

The most important things job seekers look for are a great work environment, satisfaction in their job, benefits and flexibility. But let’s not kid ourselves. Salary is also important, and negotiations can be one of the quickest parts of the job hunt process, usually taking less than a minute. Whether you are accepting a new position or renegotiating your current worth, here are some great suggestions for your approach.

  • Most offers you will receive are negotiable. If not, there is no harm in asking. There are two main types of companies in the world that do and do not accommodate this. The first feel that their first offer is their best offer. Companies in this category do a lot of industry research, and do their best to offer a fair, competitive salary. They find little advantage to low-balling and bringing in underpaid personnel. The second type of company is very accustomed to negotiations, and considers it to be an acceptable reality of the hiring process.
  • The salary range is divided into three roughly equal segments. The lowest third of the range is reserved for inexperienced workers who show potential; the middle third of the range is for competent workers; and the highest third is for people who bring something extra to the job.
  • Do not include your salary requirements. Very few companies will hold it against you, and this information is only to their advantage. If your number is too small, there is no room to negotiate, and if it’s too high, you won’t get a call back.
  • Preparation is key. Put together a rough personal budget, keeping in mind that income tax, loan payments and health care will probably account for a huge chunk of each paycheck. Then determine three figures: how much money you think you need; how much you want, and what you think you can live with.
  • Always wait until a job has been offered before you begin negotiating.
  • The person on the other side of the table is an experienced negotiator. Whoever mentions the first price usually loses the battle. And NEVER mention the smallest amount you are willing to take. After they are forced to name a figure, NEVER jump right on top of it. Research shows that if you acknowledge the offer, contemplate it for a few seconds, and then explain how that figure is smaller then you had expected, the hiring manager will almost always immediately offer more.
  • Defend your worth. Showcase examples of your work-related skills and positive benefits to the employer.

Salary negotiation resources:

Wage Web: http://www.wageweb.com
The Salary Calculator: http://www2.homefair.com/calc/salcalc.html
Careers at WSJ: http://public.wsj.com/careers/resources/
documents/cwc-salariesindex.htm

Bureau of Labor Statistics http://www.bls.gov/
Department of Labor’s Occupational Outlook Handbook http://stats.bls.gov/oco/oco1000.htm

Or, let us negotiate for you! http://www.thetalleygroup.com/

Follow us: