Salary Negotiations

Benchmark. Strategize. Win. Win.

What Is Benchmarking?
“Researching and comparing the broader job market’s standards for compensation, title, responsibilities, and perks based on the position, your skill set and qualifications.”

-- from Negotiating Your Salary & Perks, WetFeet

Calculate Your Take Home Pay

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Tools for Determining Salary Benchmarks

The first step in salary negotiations is figuring out what the job is worth in the broader job market.  Your benchmarked figure will fit into a range that you determine by researching and comparing a variety of sources including:

Once you have determined a figure or a range, be prepared to discuss your method of determining the range during your negotiation, i.e. "According to my research, a typical starting salary for an associate level Environmental Consultant for a medium sized firm working on government contracts in the NYC area is $x."

13 Tips for Salary Negotiations

  • Sell yourself in your interview (what makes you the best person for the job?)
  • Do your research about the employer and the position
  • Increase the value of the job with YOU in it! (the negotiation starts during the interview--help employer see you in the job and all the value you will bring to the organization)
  • Don't ask about salary during the interview or be the first to name a number
  • Benchmark ALL aspects of the position (job market standards for compensation, perks, title, etc.)
  • Know your personal job priorities (location, salary, benefits, value of experience)
  • Be prepared with creative alternatives to salary (flex time, bonuses, transportation)
  • Enter negotiations with a "Best Alternative to the Negotiated Agreement" or BATNA--i.e. don't be desperate, have an alternative
  • Keep interviewing and applying for multiple positions (will give you alternatives!)
  • Avoid bringing your personal life into the negotiation
  • Do NOT say "That is more than I expected!"
  • Use silence as a technique (employer may increase an offer if you don't respond right away)
  • The best negotiation is a Win-Win!
A negotiation is composed of two major steps: planning (research and strategy) and communication (information exchange and agreement). In the planning step, get as much information as you can up front and, using both the company's written and unwritten signals, map your skills against what the company values.
— Linda Jenkins

Online Resources on Salary Negotiations

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