May 4, 2016 – Veritas Recruiting Group appeared on FOX 35 Good Day Orlando this morning to discuss Salary Negotiations.
Glassdoor.com survey found that 3 in 5 people accepted the first salary offer and didn’t negotiate. And women were far less likely than men to negotiate their salary. Here are some tips to help you negotiate for a better offer:
- Do your research on the local market before your start interviewing (or before your next review at your current job). Find out what the local market is paying for the same or similar positions. Feeling like you’re underpaid isn’t enough…you have to back that up with research.
- Do your research on yourself and what is important to you beyond base salary. PTO, work life balance, engaging work, ability to grow your knowledge, career growth opportunities, environment, and management are all aspects of a job that have value for each of us and impact what salary we will and won’t accept.
- Assess the costs and value of benefits. All health insurance plans are not created equal…some companies pay 100% of health insurance premiums and some pay 50% of premiums…these costs are real and come right out of your paycheck. Matching 401k plans, defined bonus plans, profit sharing and stock options are all real money that should be factored in. If you’re currently working, the goal should be to make an apples to apples comparison (or at least as close to it as you can get).
- Ask if there is flexibility. Don’t ask, don’t get. The worst thing that can happen is they say no, there isn’t any flexibility.
- Determine your walk-away point ahead of time. The emotions of the moment at the offer stage are easier to navigate if you’ve already figured out these two salary numbers: 1) At what point and above you are ready to accept, and 2) Below what number you would walk away. That means you need to get all of the other questions answered before the offer so that you can make that assessment (including costs associated with benefits).