You get the job of your dreams, you accept your employer's offer...but how do you negotiate the salary? Ross Wade says that researching salaries in that field, costs of living and budgetary issues should be equal aspects of the interview preparation. Make sure you are getting the job you desire with the salary you desire.
This is part of a聽 series of columns from the Student Professional Development Center offering industry insights and career guidance.
By: Ross Wade, senior associate director of career services, School of Communications聽
I remember getting a call from my first employer informing me they wanted to hire me 鈥 I was SO EXCITED. The call lasted about 60 seconds, and it went something like:
Employer: Ross, we are thrilled to offer you the ______________ position with us. Do you accept it?
Me: Yes! Thanks so much!
Employer: When can you start?
Me: Is June 1 okay?
Employer: June 1 is fine. Our salary offer is $___________. Does that sound okay?
Me: Um鈥es, that sounds fine.
Employer: I鈥檒l follow up next week with the contract and other info. Glad to have you on board.
I hung up the phone and thought, 鈥淥h no. I think I could have gotten a higher salary. Why didn鈥檛 I think about and prepare for this part of the job search?!鈥 I was so caught in the moment and unprepared to talk salary that I automatically said yes. Never do this.
Many new professionals (fresh out of college) are doing interviews, reviewing job offers, and sending the dreaded 鈥渟alary request.鈥 The salary request question seems to send folks for a loop, and I can see why. Job seekers spend so much time updating self-marketing materials, networking, and preparing for interviews, that they don鈥檛 take the time to think about their worth. This is very important.
So, let鈥檚 step through the process, shall we?
Step One: Research
It is important to know average salaries for your industry and聽your region聽聽鈥 a public relations assistant account executive will make less in Gibsonville, NC than in New York City. CNN has a great聽聽where you can see how far $40,000 a year will get you in Gibsonville vs. New York. It is important to understand that you鈥檒l make more for the same position in New York City because it costs more to live there.
Below are some great resources for researching salaries by company/organization or by region:
础迟听聽you can click on the 鈥渟alary鈥 tab and search by the company 鈥 they have TONS of companies, including colleges and universities, to search.聽聽allows you to search for salaries by city, state. Jobs in digital or social media may be a bit more difficult to nail down, but you can find similar types of jobs and 鈥済uestimate鈥 an equal salary.
Ask around. Hopefully, informational meetings have been a large part of your networking process. Reach out to those in your network and ask them to provide salary ranges for positions in their field. Asking for a range rather than a specific salary will make your contact more comfortable providing you information.
Step Two: Set your Boundaries
It is very important that you decide a聽desired salary聽as well as your聽rock bottom salary. These numbers will be chosen based on your research, cost of living of the region, and other budgetary issues (e.g. college loans).聽Some of the best advice I ever got was, 鈥渘ever take a salary you’re unhappy with 鈥 you鈥檒l start your job not only angry with the company, but angry with yourself, and that is no way to start anything.鈥 Makes sense/cent$ right?
Step Three: Sending your Salary Request
I always think it is a good idea to send a range rather than a specific amount. $5,000 to $10,000 is a good range. So, if I were sending my salary request for an assistant account executive position in Raleigh, NC, I would say my range is between $48,000 to $55,000 鈥 and this range would be based on my research (e.g. the equivalent job on聽Salary.com聽would be a public relations specialist 1 with 1-2 years of experience and a bachelor鈥檚 degree).
Giving a range allows some wiggle room for you and the employer. Remember to never go beyond that rock bottom salary you gave yourself! If an employer really wants you, they will be willing to negotiate.
You don鈥檛 want to start your career making less than you are worth鈥t is really hard to catch up, and you don鈥檛 want to spend the rest of your career regretting your first salary. Know your worth, do your research, and get paid what you deserve!