Salary Negotiation Checklist
Step 1: Define your ideal salary range
- Research the market rate for the job in the geographic area where you are applying with your level of experience, using a tool like Educate To Career’s Job Calculator.
- Review salaries and benefits in the field where you are applying, considering how companies’ compare.
- Consider your current bills and anticipated expenses to determine your minimum salary requirement.
- Identify your realistic “dream” figure. This number should be more than enough to meet your minimum requirement without pricing you out of a job.
- Establish your desired salary range by placing the “average market value” at the lower end and your “dream salary” at the higher end (this should range $5,000 – $7,000).
Step 2: Decide if you should negotiate
- After a company extends an offer, respond promptly with your gratitude and ask when they need your decision.
- Remember your opportunity to negotiate: after a company has extended an offer, but before you accept it.
- If the offer is competitive, current and meets your expectations, you may not need to negotiate.
- Outstanding offers from multiple companies can provide leverage for negotiations by showing that you are a competitive candidate.
- Understand your competitive advantages. Education, relocation and work experience that align with the position may all be reasons for negotiating a higher salary.
Step 3: Negotiating your offer
- Consider the entire job offer package, including signing bonuses, paid sick leave and vacation, relocation assistance, 401K and any other benefits.
- Do your research on competitive salaries in the industry, location and position title and cite your sources where appropriate.
- Discuss your impression of the offer with a career coach or trusted mentor and practice negotiating.
- Determine a new salary range with the employer’s offer at the lower end and a slightly larger offer at the higher end.
- Ask the employer questions that encourage them to consider increasing the extended offer (for example: “What is the complete compensation package for an employee at my level?”).
- Offering incentives, such as an earlier start date, may cause the employer to re-evaluate their initial offer.