I recently read an article about how important it is to be organized when negotiating. With the economy slowly improving and companies increasingly hiring, it is crucial to negotiate, especially since many
companies are lowballing candidates. Here are a few things to ponder. You were chosen from a significant pool of applicants. Typically companies interview 4-6 candidates after cherry picking the top resumes. If you are at the point of receiving an offer, consider yourself very qualified, not lucky. You may be thinking… ‘I have to take what I can get’, but remember they chose you from a large group of applicants. This is where negotiation is key. Here are a few items to prepare:
Do your research online. A good start is looking at salary websites — what are others in your position/area
making? Print out all information.
Gather information regarding your previous salary, bonus, profit sharing or stock options, and all
benefits and put in on paper. Do not discount your benefits. Weigh your options when it comes to
health insurance, commuter benefits, vacation time, etc. I went from a job that paid 100% of
our health insurance to one that we paid into. It really makes a difference. Putting it on paper will visually help you when negotiating your new salary and benefits package.
It’s not personal, it’s business. Focus on the facts and not personal issues. Write down the top 3
achievements of your career. I’m worth it because…
- I have over 10 years of experience
- I brought in 10 million in assets last year
- I have numerous contacts in the industry that I’ve been working with for over 10 years
- I have a family of 4 that I need to support
- The economy is terrible and I haven’t had a raise in 2 years
Be confident when presenting your side. Most of ‘getting what you want in life’ depends on your
confidence level and how you present yourself. If you think you are worth it, you will portray it as such.
Good luck and go get ‘em!!