TOP 10 TIPS: Salary Negotiations

Knowing salary administration strategy from the Corporate view, The Careerpilot is not surprised by the actual marketplace performance of today’s professionals in career transition. Even in the "soft market" conditions of second quarter 2002, Candidates have been seeing 15% increases to be commonplace… even higher with some highly marketable Candidates or from within high demand industries and companies. You can negotiate anything. Here are my "TOP TEN TIPS" for negotiating a new salary.

  1. Research your profession's salary range… Check with recruiters in your field, the U.S. Department of Labor's Occupational Outlook Handbook, competitors, trade publications, your local chamber of commerce and the Internet: "salaryexpert.com" and "salary.com" are two of my favorites.
  2. Select a target salary... You may not get what you want, but having a specific objective can help you get close. Keep total "position worth" and your value proposition in mind.
  3. In discussing significant increases over salary history… Prove your value with examples from actual experience. Comparisons to your current salary are irrelevant and should be avoided; you're talking about the benefits you'll bring, not your past salary, which you may have had no control over.
  4. Don't initiate salary discussions… Wait for the interviewer to bring the subject up, even if it's postponed to a second interview. There are at least three tactical "scripts" to help you: BLOCKING, TURNAROUND and FORCING FEEDBACK.
  5. Move from "past salary history" to discussion of your "salary requirements", they're "negotiable." … Do the same on applications by writing "negotiable" in any box asking about salary details. If the form asks you to provide current salary, write, "to be discussed." Your advantage is to attach salary to specific JOB, not YOU.
  6. Be prepared to state actual past salary in terms of current market conditions… but only when pressed.
  7. Discuss benefits and other negotiable items separately from salary... Your list of benefits and other negotiable items generate your total position worth or value. Your advantage is to attach salary to the specifics of the JOB, not YOU and your skills and experience.
  8. Analyze all benefit packages with an insurance, investment or bank professional, even a trusted HR professional. They can help you understand benefit language and may look at the offer more objectively.
  9. ALWAYS consider the cost of living when relocating… If it's higher, suggest some form of balancing compensation or other offset.
  10. Always assume a firm's first offer is negotiable, never accepting the initial offer… Rather, express your strong interest, but state you always discuss decisions of this magnitude with advisers whose judgment you have relied upon for years. Tell your interviewer when you'll contact him or her with your decision.

By following the tips above, you’ll increase your chances of receiving a pay increase or other significant improvement to your total position worth or value. Your mindset is directed toward a value increase… practice tactics to develop that confidence and "poker face."

THE CAREERPILOT