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Congratulations!
You’ve done it! You’ve knocked that interview out of the park and the hiring manager wants to proceed forward with the terms to your employment. A congratulations is definitely in order, but don’t celebrate quite yet.
From here, you’ll want to ensure that you have the upper hand when it comes to wage negotiations. So, don’t be quick to sign the first employment agreement that is offered. Simply thank your interviewers or hiring team for the opportunity to join their team. Then, let them know that you would be happy to review their employment agreement in more detail over next 48-72 hours.
As you review the employment terms, take careful consideration of the starting salary, incremental raise schedule, benefits package that the company can offer you.
What to Consider
- Does the salary offer for your position comparable to the average salary in your location?
The best way to find this out is to use Glassdoor. Search the job role, and the location to see how the offered salary matches up to others in the same place. - What is the recommended salary or cost of living for the area you live in?
A fantastic resource is this Living Wage Calculator where you can see what wage you would need based on your number of dependents in any given location. - How much paid time off (PTO) and sick leave is offered?
- What is the pay raise schedule for this position? Are they performance based? What criteria must be met to ensure that a full increase is acquired?
- What retirement plans are offered, and how much does your employer match?
- Ask about insurance plans provided for health, vision, and dental.
- Are there any other additional benefits? Tuition reimbursement programs?
Don’t Settle for a Lower Salary
Don’t be discouraged when a lower salary is initially offered. The human resources team is likely well coached in offering the lowest possible salary to incoming employees. But, if you believe that you are worth more than what you are being offered you must learn to negotiate your salary effectively.
After carefully gathering the salary information above, you will want to speak with the human resources department about submitting a salary negotiation letter. Here is a template for you to use.
Ensure that you emphasize the following points in your salary justification letter.
- Your level of experience in this job role exceeds the salary being offered.
- List of skills that would allow you to excel with the company.
- The comparable wage in this position for the local area.
- How does the salary offered compare to cost of living expenses for the location?
- Highlight any recognition that you’ve received while employed in previous positions.
- Describe any academic advancements that you have made since your last place of employment.
- Conclude by summarizing the above and then presenting an exact salary that you believe you deserve.
You’ve Got This!
Change gives rise to new opportunities. Remember that one of the key reasons that employees don’t receive an increase in their wages is that they don’t ask!