Summer is right around the corner, and for college seniors, that means the dreaded (or perhaps anticipated) entry into the workforce. Your first salary negotiation can scary, especially for those who are just stepping into the professional world. I don’t think it’s fair that you can make more money if you’re better at negotiating (especially since some demographics get penalized far more for negotiating), but it’s the reality, and I want to help you play the game. If you know you’re in a position where negotiating will hurt you professionally, then I don’t want to force it on you, but for those who do want to negotiate, we have eight essential tips.
Research, Research, Research
Before you even begin the negotiation process, it’s crucial to understand what your skills and experience are worth in the current market. Websites like Glassdoor, PayScale, and LinkedIn Salary offer salary ranges for your role, experience level, and location. Having a clear benchmark will provide a solid foundation for your negotiation. When negotiating, back up your salary requests with data from your research. Presenting clear, factual information about why you believe a certain salary is appropriate makes it easier for employers to consider your request.
Try Not to Be Afraid to Ask
Many people, especially those new to the workforce, might feel hesitant to negotiate their salary for fear of appearing greedy or ungrateful. But I beg you to remember that negotiation is a standard part of the hiring process. Employers expect it, and not negotiating can actually leave money on the table that could have been yours. To build your confidence, practice your negotiation pitch with friends, family, or mentors.
Consider Total Comp
Salary is just one part of your total compensation. Benefits such as health insurance, retirement contributions, vacation time, remote work flexibility, stock options, and maintaining your sanity can be equally valuable. Sometimes, if a company can’t meet your salary expectation, they might be able to offer more in terms of benefits, so be ready to negotiate these parts of your offer, too.
Be Upbeat
Your attitude during the negotiation can significantly impact the outcome. Approach the conversation with a positive and professional demeanor. Express your enthusiasm for the role and the company, and frame your negotiation as a desire for a fair compensation that reflects your value to the organization.
Be Prepared to Walk Away
Finally, be prepared to walk away if an offer does not meet your minimum expectations. Just like with dating, this can leave you feeling super awesome. This doesn’t mean you should make unreasonable demands, but it’s important to have a clear understanding of what you need—be willing to pursue other opportunities if necessary.