Tips for Negotiating Your Starting Salary at a New Company

Talking about your salary may happen in the interview the first time, but even if it doesn’t, it will definitely happen once you receive your hiring letter. One of the first big negotiations will be your starting salary. Talking about money may make you uncomfortable, especially if you ask a person for a specific number. Most people think of it as an ill-mannered social situation. Negotiating your salary has to be well researched and professionally done. You want to make sure you are making the right amount of money for the daily hours you are putting in. You want to make sure the salary fits the career expectation, and you want to make sure you can afford to live off the negotiated salary. There is always a chance to raise a salary, but that starting salary number is important.

Do your Research

Research your position in similar companies. Find out what a person makes in your position and what your value is. This new company is investing in you, and they also don’t want to find out you can make more if you leave and go to another company. They should also know what is a competitive salary for your position but make sure you research it.

Check if you Qualify

Know what you Need

Figure out what number you need to live your lifestyle and have money left over for savings or other plans. You don’t want to work for a company daily and not be able to afford your life.

Evaluate the hours and benefits

If you don’t have a traditional daily career of 9-5, know if you will be working nights and weekends at times too. Salary may not cover that, and you may need it over time. If you don’t get overtime, you should negotiate that extra into your salary. A high salary may make up for this as well. Also, discuss benefits and what extras are there for you. Health insurance, 401 K, etc.

Explain what you offer

You are an asset to this new company, and they want to keep you. List what you offer as an employee and why the salary fits your position.

Make them compete

Tell them you have had other job offers at certain salaries but you want to stay there with them. Know your number and see if they can meet you at it.

Be Professional

Remember, this is a job, but you also deal with people. The hiring manager speaking to you may not be ready to alter their idea of the starting salary. Be gracious, kind, and have your words chosen carefully. Talking about money can be uncomfortable, so practice this conversation.

Do Not Agree to a Salary Right Away

Take a moment once they offer you one and let them know you want to sit on the offer before you decide on the salary. That way, you can walk away and think about the salary, the benefits, the job duties, and more. It’s better to take a step back and see the salary once you aren’t in the high-pressure negotiation.