How to Negotiate Salary PerksĪ 2020 study from the BLS states that the remaining 30% of compensation packages is comprised of benefits. Big cities like New York and Silicon Valley have higher compensation, as opposed to small rural towns. Compare Cost of Living of Your LocationĬompensation is also affected by the job’s location due to cost of living and talent demand. Unions exist to protect the welfare of their members, that’s why they also keep information about acceptable salary ranges for different jobs in your industry. If you don’t want to ask directly, give them an estimate of the job offer, then ask if it’s in-line with industry standards for someone with your experience. People are, in general, uncomfortable talking about their income, but you’ll be surprised how open some friends are. Ask them if it’s fair based on what they receive. Ask Other Employees in Similar PositionsĪsk your friends, family, professors, former colleagues, and mentors to give you feedback on the job offer you got. Investigate the benefits and perks they offer, too. A mom and pop shop will have a smaller budget compared to a multinational conglomerate, and it’s the same case if you compare a Wall Street firm with a local restaurant. The salary also differs based on the company’s size and industry. If they have a job grade system, you have to accept that it’s almost impossible to go above their imposed upper limit. Dig Deep to Learn All About the Companyįind out if the company has job grades or bands, and what band your target position is in. Other Salary Comparison WebsitesĪnother way to find the average salary is to look for job ads that display salary information on different job sites. You can also go to the Bureau of Labor Statistics, which provides a comprehensive database of salary information for different jobs.īelow are different sources for salary research. Some of these sites allow users to filter the information based on location. Websites like PayScale and Glassdoor have salary estimates for just about any position. Salary Databases and Other Online Sources Finding the Average Salary and Compensation Package for Your PositionĪssuming the job offer you received is lower than the market average will never work. This process starts with researching information to back up your request for a higher salary.
In this tutorial, you'll lean how to negotiate a higher salary and additional benefits during a job offer negotiation. What you need is a strategy and the right mindset. You can’t just blurt out a number and expect your future employer to agree with you.įear of having the job offer rescinded doesn’t help, either. There’s no question that everyone wants a higher base salary, the problem is it’s not exactly clear how to negotiate a salary after a job offer. Are you ready to negotiate a higher salary for a new job offer? ( graphic source) It also affects the next job offers you get when you move companies. There’s a snowball effect because your performance raises and after-promotion salary are all affected by what you accept. Not negotiating the job offer puts you at a disadvantage for the duration of your career in a new company.
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