Tips to Maintain Negotiating Power around Salary
As much as you may try to hold off on the discussion of salary until the latter stages of the interview process, there are instances where the discussion can’t be avoided – say the employer requests your salary requirement at the time of your resume submission.
In such instances, calling out your salary requirement puts you at less negotiating power or even disqualification from consideration before you even have a chance to clearly communicate all that you have to offer.
You may come in too low or too high from what the employer is considering.
Here are some tips and approaches to maintaining negotiating power even if you have to indicate your desired salary at early phases of the process.
Before you say anything, make sure you have researched what the standard salary range is for the position in the field and in the location you are in. Sites like Salary.com, PayScale.com and Glassdoor.com, offer such information and may even have specifics regarding your targeted employer.
- Ask them what their budget is for this position.
If you are conversing with them then just ask what they have budgeted for this role. Most times they will tell you and you can respond appropriately.
- Offer a range.
Whether it comes time to discuss salary when you apply or later in the interview process, it’s always best to provide a range. A great phrase is: “Although the job and the challenge are most important to me, you should know that I am considering positions in the XX to YY range.” This not only tells them what you are seeking but it also implies you are in demand.
Following these tips will help you maintain bargaining power when it comes time to really negotiate on the salary offer.