1. Become familiar with industry salary trends- Visit the Bloch Career Center to find about industry salary trends. Know, the employer may be having a tough time finding someone with enough skills and experience, and that opens the door to negotiate higher pay.
2. Build your case – Explain why you feel you deserve more by highlighting your strengths, detailing all the extras the company would get from someone with your track record.
3. Tell the truth – An offer can be withdrawn if a hiring manager finds out you invented a competing job offer or inflated your salaries from past jobs.
4. Factor in perks and benefits- Consider what's valuable to you and what would make an offer more attractive. If you're considering multiple offers, remember to directly compare health insurance coverage, retirement savings plans and other benefits to make an informed decision. Also factor in perks such as professional development opportunities with the potential employer.
5. Practice your delivery – Practicing with a mentor can help with delivery, confidence, and ease.
6. Know when to wrap it up – If your company can't meet your expectations after a few discussions, respectfully withdraw and focus your energy elsewhere.
7. Get everything in writing - Once you and the hiring manager settle on a compensation package, ask for written documentation. Besides the salary amount, it should include any special arrangements, such as a signing bonus or allowance for moving expenses, and a job description and a list of responsibilities for your new role. Ensure the document is signed by both you and the employer. Some companies may provide this automatically as part of an employment contract, but if not, request some type of informal documentation.
8. Stay positive - Keeping your tone positive while negotiating salary and perks will help you more effectively navigate these discussions.
