Tips for successful salary negotiations
October 6, 2009 · Tagged with Career and Work
During my first job interview, my mom drove me to Baskin-Robbins while we practiced interview questions. One question we did not practice was “How much money are you expecting?”
When the ice cream store owner asked, I said, “Well, my parents are cutting off my allowance for the summer so I’d like $20 a week.” That seemed like a lot because I wouldn’t have to buy school lunches with that money. Later, my mom pointed out that I gave a number so low that it would have been illegal. In the end, he paid me minimum wage for a 40-hour week, and because I had asked for so little at the beginning, by the time I was a manager I was still making less than the scoopers.
So I quit, and moved to a pizza parlor where I got extra money for cutting the salami with the machine that cuts peoples’ fingers. It wasn’t until later in my career when I realized that there are established strategies for salary negotiations, and if you follow them, you will likely get the salary you deserve without risking the loss of a limb.
Don’t give a number during the interview.
The first person to talk establishes the range. If you give a number first, the interviewer will either tell you you’re in the same ballpark as him, or you’re high. And probably you will never know if you hit below the range the interviewer was considering. The opposite is true, too. So the interviewer will always want you to tell your range first. (Do not try to remedy this situation by giving an unreasonably high number because then you will sound unreasonable.)
Your first line of defense is to say you’d like to talk about salary once you have an offer. If the interviewer is good, he will persevere. So try asking the interviewer what he would pay for this job. Whatever number he gives, you can say, “That will be a fine starting point.” (You will ask for more later.)
You can also say that you are still learning about the job responsibilities, which impact what salary you’d expect. Mention that the opportunities for you to contribute to the company are more important than the salary. This tactic makes you look like a team player, and it gives a direction that the interview can go down besides the salary path.
If all else fails, think package. Say, “My package at the last company was worth … .” Be sure to include benefits and bonuses. Your interviewer will have no idea what percentage of the number you gave is salary, and what sort of benefits you are counting, so you will appease him with a number while guarding the useful information for yourself.
Have courage: The interviewing manager should pay you for your current worth, not what you were being paid by another company. Do not feel guilty about withholding a number; if nothing else, corporate America values good negotiators. I went through this process at interviews for my last job. And after hemming and hawing I gave my “package” answer, and the interviewer laughed. He said, “I hope you negotiate this hard when you are working for me.”