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How to Negotiate a Better Salary Offer

How to Negotiate a Better Salary Offer | CashCourse: Your Real-Life Money Guide

After job searching and several rounds of interviews, you’ve finally received a job offer. Once an employer offers you a job, it’s time to negotiate a good starting salary and benefits package. These tips will help you make the case for a higher salary or more employee benefits and perks:

  1. Know what the job is worth. Research the job offer carefully.Check how the proposed salary stack up to other jobs in your field and your city.

  2. First, calculate and compare salary information. Come to the negotiating table armed with information about comparable salaries. Ask for more money than you expect, so that you leave room for a counteroffer from the employer.

  3. Know what you’re worth to the company. To get the full picture of how much a company values you an as a potential employee, take a close look at the benefits package that accompanies the job offer.

  4. Some companies make up for a lower starting salary with a robust benefits package. Make sure you understand every benefit available to you, especially an employee health plan, which will impact your take-home pay, and negotiate for the benefits that mean the most to you.

  5. Sell yourself in a positive way. Be clear about the experience, education, and skills you bring to the company and why you are asking for a higher salary for the position.

  6. Don’t be shy. Your negotiating power is strongest before you accept a job offer. So tout any specialized and in-demand skills that you have. It may lead to a boost in your starting salary.

    If an employer is unwilling to budge on salary, ask about other benefits, like stock options, flexible hours, or more vacation time.

  7. Don’t wait to ask for a raise. Instead of waiting for your company’s routine review period, ask for a bump up in your salary right after you have accomplished something valuable for the company.

  8. To help build a case for an increase in your salary, keep a detailed record of your achievements, such as meeting or exceeding department or company goals.

    Don’t be afraid of negotiations! By informing yourself before accepting your employer’s initial offer, you can help improve your chances of starting your career earning more money—and make even more over your working years.

[Any reference to a specific company, commercial product, process, or service does not constitute or imply an endorsement or recommendation by CashCourse or the National Endowment for Financial Education. These courses and related resources may be used only for nonprofit, noncommercial educational purposes. CashCourse makes every effort to keep the information in these courses current, but, over time, new developments as well as legislative and regulatory changes may date this material. If you discover inaccurate information, please contact us.]

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