Having made it through the job interview, the next nervous moment could be to negotiate your salary, mostly if it’s your first job. Gaining confidence on how to negotiate salary for first job begins with your understanding that the company wants you on their team. Your skills have been closely evaluated before you were singled out for the job. That means you are not the only one excited or in need here. But don’t let that get into your head. It’s still possible to create a very bad scene and lose out. Yes, that’s very common with inexperienced candidates on a new job.
You should know that the employer deserves a good bargain, just like you as you negotiate your salary. Recognize yourself as the employee here as you work on establishing a win-win contract for your new job.
The following steps will be very helpful as you learn how to negotiate salary for your new job.
Step 1: Get prepared
Do not go to negotiate your salary when you have no idea about how much you worth. You should research to know how much people in that position are paid. Make sure you understand your job requirements and know about the company’s performance. Lastly, establish a benchmark; a minimum salary you would want to be paid.
Step 2: Negotiation
This is where your value begins. You must present yourself as a candidate can handle the job. Communicate with the appropriate terms and reiterate your value to portray how much you are going to contribute. NB: Do not be the first to mention any amount. If the employer demands a salary range from you, deflect the question back to keep your option very open. If the employer insists you must mention a price, then you should consider starting high; the maximum amount within your range.
Step 3: Take your time to respond to an offer
It is possible that the employer is going to mention a very good amount; like a dream come true. Do not be quick to accept! The same principle applies if the amount is too low. Take your time to evaluate details about the salary. Is it based on performance? Are there other benefits aside from the basic salary? Benefits like free training courses, performance bonus, promotion opportunity, travel opportunity, and employee benefits such as insurance, healthcare, etc.
Step 4: Counter offer
If the amount offered by the employer makes you happy, then you should go ahead with accepting the offer in the next step. Otherwise, you’d have to state your amount within that range that you’re comfortable with. If the employer is not likely to go higher, try to negotiate for the benefits mentioned in step 3, they are likely the avenues to improve your income. Also, you may want to demand a 3-month pay review, to open doors for a pay rise after working for three months.
Step 5: Decline or Accept
On a note that you could not establish a common position with the employer, politely decline the offer graciously. It’s always important to appreciate the employer’s effort by thanking them for the opportunity.
If you are happy with the salary established, all negotiated terms should be documented in your offer letter. Sign up for the new job once the information is properly documented. Congratulations!