Salary negotiation can be one of the trickiest aspects of interviewing for a job.
If you do it properly, your salary negotiation can be as much as 25% more than if you negotiate salary poorly. If you’re in the job for years or decades, that 25% can really add up.
On the other hand, bringing up pay at the wrong time or in the wrong way may actually reduce your chances of getting the job in the first place.
When should you bring up pay in an interview?
And how do you go about salary negotiation once the topic is on the table?
The Timing: Wait for Them to Love You
If you were considering buying a house, would you talk about price before you’ve decided you’re interested? Probably not.
You’ll want to see as many houses as you can first, until you find one you fall in love with. Then you negotiate for the best deal you can on that house. You’ll likely be willing to pay quite a bit more for the home you fell in love with than a house that you were just kicking the tires on.
The same is true when an employer is thinking about hiring you. They may ask questions like “What kind of salary are you looking for?” before they’re actually serious.
But the best time for you, the interviewee, to really answer these questions is once the employer has already decided they want you on their team.
Once they’ve decided that, you have much more leverage. You’ll be able to negotiate a much better deal.
In other words, try not to address pay at all until everything else has been discussed and it seems like there’s a good fit.
Tips for Negotiating the Best Salary
Before you even walk into the room, do your research.
What does this company pay other people on their staff?
For large companies, you may be able to find out by doing some in-depth searching online.
For smaller companies, you’ll likely have to try to find out by talking to people. If you don’t know anyone in the company, you’ll have to gauge by getting a sense of the overall industry.
For example, if you’re interviewing for a small solar company and can’t find out how much they pay, instead try to find out the average salary for other people in your position in the solar industry.
Know what value you bring to the company.
Know what problems you’re solving for them that other people can’t solve. This will give you a good idea of what you’re worth to the company.
Be willing to say no.
Have several options so you can create the impression that you can walk away if they don’t present you with a great offer.
Negotiating salary is both an art and a science. Be prepared when you walk into the interview and only talk about salary in concrete terms once they’ve already decided they want to work with you.
What do you think? What other “salary negotiation” strategies would you include? Leave your questions and comments in the box below.
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