The art of negotiation

You will all face it. That first job offer. Your future boss says how excited he/she is to bring you on board and is already cleaning out your future office. However, first things first..."what are your thoughts on pay?" He/She asks...

A colleague of mine recently attended a conference on 'career transitions coaching,' and one of the speaker quotes she brought back and shared with us was, "the first to say a number, loses."

Remember this.

The first number laid out is the bargaining chip. If you provide a salary demand that is way under market value, the employer wins and you lose. If the employer is the first to lay down a salary, you know that you can always negotiate higher. In this case, you'll win and they'll lose.

So, how do you know how much is enough? Do your research! I would recommend going to the Occupational Outlook Handbook (www.bls.gov/oco/) to search for salary information on either your specific occupation title or a similar occupation. This government-sponsored web site provides a wealth of information regarding the duties, training, and salary almost any position you may be seeking. You can also check out http://www.salary.com/ and do some comparison shopping. Finally, the New York Times offers salary ranges in specific geographic regions at: http://salary.nytimes.com/. Remember that salaries vary greatly among geographic locations, so you should take that into account.

Now you know the salary range, so use it to your advantage. If your employer shoots low, you can simply reply that you have done some research on salary ranges, and, given your education and experience, you think that a fair compensation would be ($0,000) higher. Always, always, try to aim higher.

One final note: If an employer can't offer you a higher salary, they may be able to improve your total benefits package. In addition to your retirement plan, health benefits, and dental plan, you should ask about vacation days, flexible hours, or tuition reimbursements.

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If you are currently employed and 'forgot' to negotiate your salary, you can still practice these techniques when negotiating your raise. The New York Times has a great article detailing how to put your negotiating skills into action:
http://www.nytimes.com/2007/12/30/jobs/30career.html

Remember, work is work. Although some view work as their play and passion, you are still utilizing your skills and talents to fulfill the mission of someone/something else. Make sure you are fully compensated.