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After all the hard work you’ve put into designing your resume, crafting your cover letter and acing your job interview, you might be tempted to cash in on the first job offer a company gives you.
Most people do.
But putting in a little extra time to negotiate a higher salary might be the easiest and quickest way to earn more money at your new job.
Plus, hiring managers are often ready to negotiate. Are you?
What Are Salary Negotiations, and Why Are They Important?
Salary negotiations show that you’re confident in your skills, you’ve done your homework and that you’re not going to dart off to another better-paying position as soon as it’s available.
Salary negotiations are one of the last steps in the hunt for a new job. They aren’t exactly synonymous with asking for a raisethough the two share a lot of similarities.
The key distinction is that negotiations for a higher salary happen sometime after your interview and before you sign the employment contract — not during a performance review for a current job.
Salary negotiations are crucial for a few key reasons. They show the company that you’re confident in your skills, that you’ve done your homework and that you’re not going to dart off to another better-paying position as soon as it’s available (because you’ll have the better-paying position).
Negotiations are also a time for you to think about your financial needs and to use the labor market to your advantage to score a higher starting salary.
The moment you say yes to a job, your sway over your benefits package and starting salary drops. If you don’t negotiate, you’ll have to wait six to 12 months to ask for a raise — money you could have been pocketing all along.
In a tight labor market, companies are willing to negotiate for talent.
So don’t be afraid to speak up.. It’s free money.
How to Negotiate Salary
Here’s how to negotiate your salary: do your research, know your worth, respond to…
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