When the subject of money surfaces during your career, it always seems to accompany a measure of anxiety about the topic and for good reason. If you have ever accepted a job and later discovered you might be underpaid, the experience tends to stick in your mind and the next time you interview it’s a lesson learned.
Talking about money can be a touchy matter even for the most seasoned professional because of the sensitive nature in wanting the job and wanting the salary you desire. Most money conversations are based on trial and error with a feeling of risk associated in discussing it with an employer.
For a job candidate who is tired of searching, the temptation to accept an offer can be enticing relief as much as for the employee who wants a raise. However, discussing compensation issues will always play a role in your career.
Long before an offer is extended, the matter of money starts with your first handshake and introduction to the employer. No doubt compensation is calculated from a number of factors such as the marketplace demands, type of organization, position and experience. However, the way in which you address the topic can influence the outcome.
The best time to discuss the details of your compensation is after you have received an offer. If you start negotiating beforehand, you could be taking a gamble. One job candidate learned the hard way by assuming the employer was talking about an offer and decided to start asking for vacation, bonuses and potential raises. As a result, the employer withdrew the offer. The candidate’s assumption was in poor judgment.
Here are some money discussion tips:
When discussing money, keep a realistic view when the salary range is lower than your last job or less than you desire. Don’t get discouraged; be prepared to back up the figure you have in mind with a business reason.
Leveraging emotions as a way to negotiate. “I deserve it based on years of experience” is not a powerful strategy. Instead, negotiate from a power of strength by researching industry standards.
Keep a strong focus on how the company will benefit from your contributions and use your accomplishments to back up your value and worth to them.
Employers are savvy negotiators; however, you need them as much as they need you. When you receive an offer, both of you share a common goal of employment.
Make it easy for an employer to hire you by doing your homework first in understanding the organizational culture, and listen carefully to the employer’s response. If you sense the conversation is getting tense, back off and look for compromises.
Things to ask for in lieu of money could be: vacation, moving expenses, sign-on bonuses, training or paid professional associations. Compensation includes the entire package and everything needs to be included when making a decision to accept an offer.
Don’t appear needy or desperate; showing your hand early in the process can send a wrong message. At the same time, if you continue to keep asking for everything, you want you could send the wrong perception that you are unhappy with the offer.
Ask for everything in writing and ask the employer when they would like a decision. Stay in control by taking time to consider the offer, it’s a good idea to take at least a night before deciding to accept.
Always show a spirit of motivation and enthusiasm even if the salary is lower than expected. An offer is a compliment to you.
How do you successfully handle money topics in your career? What has been your experience in asking for more money?