Fair Salary Negotiations
Henry Goldbeck discusses how to negotiate a fair salary
– “Most companies will have a salary range and it is acceptable for the candidate to inquiry what the range is quite early in the interviewing process. They can then withdraw if the range is unacceptable.
– When inquiring initially it is better to not ask for details regarding benefits, vacation, etc. until later
in the process or at the offer stage. It is fair to want to know enough about the compensation in order to make a decision to stay or withdraw as a candidate, but employers can be turned off by a candidate who seems more interested in vacation and benefits than in succeeding in the position.
– Benefits and vacation are also usually company standard. Vacation can be more easily negotiated, within reason, than other benefits.
– Your ability to negotiate is usually a function of your activity in the job market. If this is your first interview in 12 months and you really need a job then you will not have a lot of leverage and may be foolish to be stubborn regarding compensation, especially if you like the non comp advantages of the position such as training, entry into an industry, career growth, etc.
– If you have been active in the market with lots of interviews and other offers you will both have a clearer picture of your compensation value in the market and will be able to negotiate from a stronger position.
– Most companies need to stay within the established pay range for a position, but really do not want to go to the upper limit of the range. It is even more rare that they will try to offer below the minimum of the range. Exceptions in both cases do happen. For entry level it may happen that a company really likes a candidate though they do not have the basic requirements for the position. In this case they may need to lower the salary to justify the hire and training, etc. required.
– The entry level candidate really needs to consider being fairly paid, the career opportunities and entry into an industry or functional experience are the most important factors.”