MKTG 347/Week 9: Let's Talk Money

Salary negotiation is a process that is intimidating to a number of job hunters. Some worry about mentioning a number too soon, others worry about stating a figure that's too low, while others high ball based on their desired salary. Even though discussing salary might seem like a tricky process, it should always be discussed before accepting a job offer.

Here are some points to remember to make the salary negotiation process run smoothly.

Wait till the end: Asking about salary too early in the interviewing process is not a mistake that you want to make. Salary should be brought up when you are certain that the company wants to hire you for that position. You are wondering how much they are going to pay you, but they are asking the question of how much you are going to cost them. So, timing plays a major role when discussing starting salaries.

Avoid stating a number to early: Sometimes employers will bring up salary sooner than you expect, but there are ways to avoid stating a number. If a potential employer asks you what kind of salary you are looking for two minutes into the interview, you don't have to provide an answer. You could say something along the lines of, "I'd be happy to answer that, but could you first tell me a little more about the position."

If an employer keeps asking you to give a figure, you don't have to stick with one number. Mentioning a range would be perfectly fine. For instance, you could say that you are looking for a salary that pays between 40,000 to 50,000 dollars a year.

Do research: Research is an important part of the job hunting process, and that includes researching the average salary for the position you are applying. Conducting this research is fairly simple and can be done a number of ways. You can do some research online, or just talk to people who are already in a  related field. Doing the research before discussing salary will help you determine if the employer is offering you a fair starting salary or you could do better elsewhere.

Even though salary negotiation might seem like an intimidating process, it is something that must be done before accepting a job offer. If you have the right timing and do your research, you have a better chance of receiving the most an employer is willing to pay for your position.