Developing Tomorrow's Leaders
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You should know what you are worth walking in the door. Get a good sense of the going rate for someone with your qualifications by doing some research on the internet (see resource links below). Realize, though, that what you think you should earn and what the employer is willing to pay may be quite far apart. Factors that may drive this difference are geography (rural vs urban, northeast vs southwest), the employer’s industry and how the interviewer perceives your learning curve.
Salary is important, but you also need to look at the entire compensation package which includes health/dental/vision/life insurance, retirement plan, benefit time, etc. Generally, if the value of the benefits adds 15-17% value to your base salary, that’s a good deal. For example, if your base salary is $30,000 and the benefits added value is 16%, that means you are actually “earning” $34,800. You aren’t having to spend your take-home money on health insurance, life insurance, etc., because the company does that for you. It’s true that you need take home pay to meet your obligations, but sometimes what we don’t have to pay for is “money in the bank”, too. If, for example, a company will help you pay back student loans or maybe they will pay for you to take two classes a year to keep your skills up to speed. These are benefits to you, but don’t cost you anything.
Make a list of all your prior accomplishments, both professionally and personally.
Learn everything you can about the negotiating process. Read books, attend seminars or take a class. The more you know about the process, the more comfortable you will be in asking for money. Knowing the market value for the skills and experience you have will also help you negotiate with confidence. That requires doing your research before you start.
Finally, even during those moments when you are not feeling confident, project confidence. Before you go into an interview, tell yourself out loud why you deserve to get what you are seeking. If you believe it, so will the interviewer. Be enthusiastic about the job, confident about the abilities you bring to it, knowledgeable about your market value and firm in seeking a fair compensation package. Doing these simple things will enable you to negotiate the best possible package.
Glassdoor.com - Gives you an inside look at company interview questions, salaries, and reviews, for thousands of companies.
NACE Salary Calculator - The National Association of Colleges and Employers (NACE) offers the most accurate compensation data available.
Salary.com - Use the Salary Wizard® to conduct research on salaries of a variety of occupations.
Evaluating Your Benefits Package - CollegeGrad.com provides a list of pointers to consider
Benefits and Compensation Glossary - from the International Foundation of Employee Benefit Plans
Salaries by Job and Industry - compare salaries of a variety of industries and occupations
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Mansfield University is a community in the best sense of the word. We look out for each other. We push ourselves to dream big. We work hard to achieve success. We care. Mansfield welcomed its first student in 1857 – and to this day, the University continues to seek and serve students with big dreams for their futures.
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