How to negotiate your salary with a new job offer

One thing you must do most of the time with a new job offer is negotiate the salary and benefits. While salary negotiations may feel anxiety-inducing at times, you must keep in mind that it is just another part of the hiring process. Negotiating your salary will allow you to ask for a figure that is worthy of your skills and experience.

When you negotiate your salary, you receive several benefits such as:

• Ensuring that you are being compensated fairly for your skills and experience.
• Creating a better foundation for future raises and promotions.
• Earning respect in the employer’s mind.
• Giving you more incentive to be motivated and engaged in the role.
• Enabling you to reach your financial goals such as saving for retirement.

Here are six tips to help you negotiate your salary with a new job offer:

1. Do your research

It is important to do adequate homework before you start salary negotiations with the employer. Find out the salary range for the same position within your city, state, and industry. Glassdoor and PayScale are two resources that you can use for your research. Once you know what others in your position earn per year, you can make a better demand for yourself.

2. Know your worth

Consider your skills and experience level. Now that you are familiar with the average salary range for your position, determine whether you have additional qualifications that you bring to the company. Do you have extra certifications or licenses? This will enable you to decide where you stand on the salary range, based on your unique situation.

3. Be confident

You must be confident in your ability to perform well in the role when you enter salary negotiations. Never walk into a salary negotiation undermining your own skills and expertise. Keep in mind that the employer made a job offer to you because they think you are perfectly qualified for the role. This will help you be assertive during the negotiation process.

4. Be open and flexible

Being confident in your negotiations is just as important as being flexible. Be willing to consider factors that can be negotiated. There will be multiple things to consider when your salary negotiations are underway, such as vacation time, bonuses, and work flexibility. Let the employer see that you are making an active effort toward finding a mutually beneficial balance.

5. Keep the conversation positive

Salary negotiation is often a sensitive topic. Therefore, it is important to keep a positive outlook on things. Always try to keep the conversation positive between you and the employer. Being confrontational and defensive will label you as unprofessional. However, if you work with the employer to find something that fits both parties, you will be respected.

6. Know when to walk away

So far, we talked about what you must do when things are going your way. But, what should you do when the negotiations don’t seem to favor you at all? Knowing when to walk away from a job offer is important. If the employer is not willing to pay you what you are worth, or if the benefits package does not suit your preferences, walking away from the job will do you good.