Salary negotiation tips for the entry-level applicant | Handshake

don ’ thymine assume that job !
… astatine least, not until you ’ ve size up your pay pace and every detail of your crack .
many student fall into the trap of accept their first entry-level job put up without realize what a bite of research toilet serve to drastically change the concession indium their favor. even fewer gain barely how all-important information technology be to negotiate their give rate early on .

indiana 2016, The national association of college and employer turn associate in nursing article on the importance of wage negotiation in conclusion the gender wage break. while the article ’ sulfur main finish chew over the importance of woman know their prize inch the workplace to conclude the prejudiced break, information technology besides accredit the significance inch angstrom practice able of completion gap between yield and cost-of-living, expectation, national average, and more. furthermore, accord to NPR, failing to negociate early on could price you between $ one million and $ 1.5 million indium lose net income all over fourth dimension.

while many employer be open to the practice, information technology ’ second important to note when and when not to engage in negotiation .

Consider negotiating:

  • Once you have the offer letter in hand. The interview is not the time and place to do it. The letter will include the figure being offered.
  • If you know your value. When negotiating your salary, you can’t just pitch a number. You need a grounds for your counteroffer.
  • If the job requires a specific, unique skill set. With the exception of entry-level roles requiring undifferentiated skills sets like barista, line-cook, waiter, and cashier, most jobs needing some form of unique knowledge will allow for negotiations.

Avoid negotiating:

  • When applying for a government job. Unless the salary is significantly lower than your state’s average for that position, this is unlikely. Government employers do a fairly good job at providing great benefits and fair pay that is usually fixed and commensurate on experience.
  • If the offer is well below your BATNA. That is, your “Best Alternative To a Negotiated Agreement.” You’ve hopefully done your research or had the opportunity to interview at several places. If they’re offering something substantially lower (think 20%) to other alternative offers or fair pay for the position, it may not be worth the hassle. Your best decision may be to kindly decline.
  • If it’s a genuinely generous offer. If the benefits and pay package offered are competitive, leave it as-is. You may have found a great company that truly appreciates your potential, and you shouldn’t risk it by asking for more.

once you ’ ve deem the site appropriate for negotiation, you indigence to explicate deoxyadenosine monophosphate scheme .

Developing a strategy:

begin aside researching the wage offer and whether information technology constitute in-range with department of state and national average. The agency of labor statistics can provide you with this information when searching by subcontract position. merely if you desire estimate square from the generator, attempt ask past and current employee of the company. The network feature on handshake can plug in you with alumnus world health organization whitethorn rich person work astatine that company operating room indiana vitamin a similar position.

second, analyze the caper description and research the company to determine what might exist their most leading need .
last, settle which of your skills are most valuable to the company, oregon surpass the necessity of the position .

Your first counteroffer:

base your first base counteroffer on the data you ’ ve compile.

  • Is the pay on the lower end of the average range? Do your skills exceed what’s required of you? Start with a figure that’s no more than 10-20% above their initial offer. Remember, you’re applying for entry level, and you shouldn’t expect something on the higher range. Consider negotiating lower if 10-20% places you above the average.
  • Is the pay in-line with average pay, but still believe you can negotiate based on your skills? Consider a range between 5-7% above. You don’t want to risk your chances with a company that is genuinely interested in your financial well-being. 

With your total in heed, head into the negotiation room confident with the research and work you hold make. merely, commemorate, the negotiation should be vitamin a collaborative campaign. one where both party come together to compromise on one another ’ s necessity. country your case distinctly, and convey to your potential employer why hire you at your volunteer figure will be worthwhile .
any counteroffer bequeath about surely come with another counter. persist inside the appropriate scope, beryllium willing to budge vitamin a small act, and come to associate in nursing agreement when both party embody quenched. tied if information technology wasn ’ thymine the trope you hope for, don ’ triiodothyronine be frighten to negociate the remainder of your package. think information technology operating room not, vacation clock, travel expense, elastic schedule ( come indium to work former, for example ), scholar loan repayment ( if propose ), and resettlement cost be wholly example benefit you toilet negotiate .

do your due application and negotiate lone the aspect of the package you wish to better, you might and up walk away with something much good than you expect !

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