Figuring Out Your Worth

How can you measure your worth in dollars and cents?

Salary negotaton is an art that many fnd difcult to grasp. Moreover, as a fresh graduate, you have nothing to lose when it comes to salary negotaton, so take the frst step to discuss how much you should be paid for your services with your frst employer. Just be sure that you don’t broach the subject during your frst interview. A preferable tme would be in your second interview, and it’ll be even beter if its face-to-face.

Afer all, you stand to gain, whether in monetary terms or newfound knowledge and experience for this act of necessary evil which may seem scary at frst! Wait till you have an ofer

Don’t bring up salary maters untl you have an ofer. You need to know that the employer is keen to hire you before you start revealing your cards on what you think you’re worth.

Timing your negotaton well is a big factor for success too.

State a range

Whether you’re at the entry level or any other level which you’ve progressed to in your career, always state a range when it comes to salary expectatons. This gives you more wiggle room for negotaton instead of when you nail a single number.

By statng a range, you’re giving the employer the opton of going for the lower or higher end of the range too, though you should also be prepared to accept the lower range of the ofer.

In other words, the lower range fgure will be your baseline for acceptance. Research market rates and industry standards

Make sure you make informed decisions even as a fresh graduate when it comes to evaluatng job ofers and benefts packages.

Do adequate homework and read up on graduate employment survey fndings and market reports. Alternatvely, you can also turn to your contacts in the industry and your personal network if they have any clue.

Use your research to come up with a range of fgures on what you should be paid for each role you’ve applied to, and don’t forget to take the company size and current economic climate into consideraton as well.

Ask if the company has a structure for increments and enquire about the norm for bonuses too. Work out the sums and decide if the overall amount of what you’re getng is considered fair for the ofer at hand or not.

Be prepared to substantiate your request

This is the most interestng and fun part of the salary negotaton process, where the employer questons you on your deducton, and you get to win them over with your points.

Always back up your requests for a higher ofer by showing your strengths, achievements and what you’re bringing to the table. Keep in mind that this is also about work load and the value which you’re generatng for the company.

Show an appreciaton for these aspects and your employer might be impressed and convinced as to your worth.

Decide on the ofer at the end

You have to make up your mind if you want the ofer or not at the end of the negotaton. While you have to be prepared to lower your expected salary fgures, leave room for the employer to come back with another ofer.