Dollars and Sense Expert Advice on Negotiating Salary and Benefits

Dollars and Sense Expert Advice on Negotiating Salary and BenefitsDollars and Sense Expert Advice on Negotiating Salary and BenefitsWhat a relief when you finally receive a job offer It feels like, after months or years of searching, you can finally breathe deeply and relax. But wait just a minute- theres still one stressful hurdle forfinding a new job you need to jump over negotiating salary and benefits.Only 37 percent of professionals say they always negotiate salary, according to a Salary.com survey of more than2,000 people. The vast majority of us either never negotiate or do so only occasionally.Why do people avoid negotiating salary and benefits? Several reasons32 percent are too worried about losing the job offer.22 percent say they lack the skills to properly negotiate.18 percent say they find negotiating inherently unpleasant.9 percent say they arent confident enough.If youre afraid of negotiating salary because you lack negotiation skills, you find it unpleasant, or youre not confident enough, weve got some tips for youHere are five expert tips for negotiating salary and benefits1. Research the going rate and your personal salary range.Thanks to the Internet, salary ranges and pay rates have gotten a lot more transparent. Online websites can help you with this, such asGlassdoor.com, Salary.com, and PayScale.com.Comparably.com is a relatively new addition to these types of resources, and offers interesting information about compensation and company culture.In researching your salary range on any of these sites, try searching for several variations of the job title, since each company uses titles differently.Offered a remote sttte? In your salary range research, do multiple searches for salaries with your ZIPcode, the company headquarters ZIP code, and no ZIP code. Why? Not all companies use location as a factor when setting the salary rate for telecommuters.2. Negotiate based on your strengths.Identify the key responsibilities of the ort and what skil l sets will help you achieve success in the role, writes Gianna Sen-Gupta, career writer at NerdWallet.com.The more you can show your skills are an asset to the company and should be rewarded with higher pay, the more likely you are to convince your potential employer to extend a better offer.One of the simplest ways to do this is by drawing lines between the job descriptions stated responsibilities, and the skills and experiences you have on your resume.Create a spreadsheet to list each of the job responsibilities from the job ad. Then, in the column next to it, write down your parteicular skills and experience that make it possible for you to perform that responsibility.Whenever possible, quantify your previous experiences in dollar terms, to show your actual dollar value for each part of this new job. When youre negotiating the salary, you can pull from this analysis to show the employer exactly why youre worth your requested salary.3. Dont bring your personal situation into the conversation.In trying to negotiate your salary, it can be tempting to bring up difficult personal financial situations in order to persuade your new company to pay you more.Dont, says Mika Brzezinski, author of Knowing Your Value Women, Money, and Getting What Youre Worth, and co-host of MSNBCs Morning Joe. (A book highly recommended for both men and women)Whether youre paying for three kids in college, trying to downsize your credit card debt, or just trying to keep up with mortgage payments, Thats not your bosss problem, Brzezinski says. Youre not supposed to go into negotiations loaded with guilt.Instead, she recommends knowing exactly why youre worth a certain salary range, and presenting your case professionally and directly. Youre supposed to go in there saying, This is what I can do for you, this is why you should pay me more, Brzezinski recommends.4. Consider the entire offer.Salary is just one part of an overall offer package. If it doesnt quite meet your expectations, be sure to factor in other things, such asAmount of paid vacation and sick time (research on sites like Glassdoor to see if employees really do take their paid vacation at this company)Signing bonuses, end-of-year bonuses, performance bonusesTuition reimbursement, if you or your children want to pursue a degreeHealth, vision, and dental insurance plan coverageFlexible work options (the average telecommuter saves about $4,000 a year by notcommuting to an office)These benefits have the potential to save you thousands of dollars every year, which is like adding that money to your base salary. For some folks, the lower salary with excellent benefits is worth it.5. Be prepared to actually talkabout salary.One of the biggest things holding people back is the fear that they dont know how to negotiate salary- what to say and how to say it.Here are some excellent canned lines that might help you out of those moments of panic or brain-freezeFrom Rebeca Healey at USNews.comIm really excited to wo rk here, and I know that I will bring a lot of value. I appreciate the offer at $58,000, but was really expecting to be in the $65,000 range based on my experience, drive, and performance. Can we look at a salary of $65,000 for this position?I understand where youre coming from, and I just want to reiterate my enthusiasm for the position and working with you and the team. I think my skills are perfectly suited for this position and are worth $65,000.From Alison Green at AskAManager.orgI was hoping the salary would be higher. Im really excited about the prospect of working for your company, so Im willing to be flexible, but the number I had in mind was $XX. I think Im worth this because of A, B, and C value I will bring to the company.From Lewis Lin at Lewis-Lin.comAs we discussed in the interviews, I have two more years of experience and formal training than you required in the job description. I have also demonstrated my capabilities in my last position at my previous company by in creasing sales in my teilen by 25percent and personally landed several multimillion dollar sales. With my expertise, an acceptable salary would fall in the range of $103,000-$112,000, a bit higher than your offer of $94,000. I can certainly see a future for myself at the company, and Im confident that I can bring a lot of value. I know that we can come to a mutual agreement on an acceptable salary.While Company Z is my first choice, I have received other job offers that are offering me more compensation. In fact, the highest offer is $7,000 more than the offer from here with four additional vacation days from Company Y. Im very interested in Company Z and I would happily accept if you could match what the other company is offering. I understand that not everything can be accomplished, but Im willing to be flexible and find a good solution.Still not convinced?If youve received a job offer, youre in the strongest position to negotiate your salary. The company has gone through the enti re process of hiring you, and most of the time, hiring managers will be willing to work with you because it means that they get their favorite candidate, and it saves them time and money in the long run.So do it. Worst-case scenario, they say no. Best case, youre offered more money. Research your worth, take a deep breath, and speak confidently, directly, and succinctly. Youre worth it.Looking for a job that pays well and lets you work from home? Check out 10 of the highest-paying work-from-home jobs.Readers, are you skilled at negotiating salary and benefits? Tell us your experience by leaving a comment