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How to Negotiate Your Compensation Package During an Interview

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salary negotiation

Summary: The tricky art of salary negotiation can become complicated unless you go in prepared for the topic and proceeding discussion to arise.

You are sitting in an interview that is going great. The position is one you really want with a company that fits your career goals. All of a sudden, the interviewer asks the question “What salary do you deserve?” Negotiating a salary is always a tricky situation. You don’t want to just throw a number out there with no thought. Follow these suggestions to help you be more prepared for if this question arises during an interview.

  1. Do your research. Compare the job title you are applying for to other companies in the same city by using the site Glassdoor to find the salary numbers. Add ten percent and have reasons to back up why you are worth more than the average person in this position.
  2. Know the minimum and maximum numbers. Put the pressure back on the company and ask for the maximum number that they are willing to pay based on what they think you are worth, what they can afford, and what is a reasonable salary for their company and what they pay other employees. Now you need to figure out what your need to make to pay your bills and be comfortable to find a minimum pay that you can accept. Now that you have these two numbers, you can determine if you are both on the same page. If their maximum is way below your minimum, the job might not be the right fit.
  3. “He who speaks first loses”. Find a way to get them to disclose a number first to start with. You don’t want to throw a number out that is way below what they had planned on paying you and now can get away with paying you less. Be vague and explain that your compensation is flexible and ultimately depends on the package they offer.
  4. Consider the benefits. Salary is just a part of what you need to be considering. If the company has weak benefits, you may need a higher salary to compensate for your share of higher medical expenses. A company with great benefits can save you money on a gym membership, daycare, etc. that will allow to accept a smaller salary.
  5. Negotiate your seniority level. Provide examples of your extraordinary skills and successes to prove that you are worthy of that superior level. Negotiating your salary is just as important as this part of your overall package.

Photo: forbes.com

How to Negotiate Your Compensation Package During an Interview by
Authored by: Amanda Griffin