Getting the first job right after stepping your foot out of the University can be quite exciting. Not only do you quit being a dependent person who heavily relies on his parents for each and every expense, you also quit being a loanee who needs loan to pay of his ‘student debt’.
As tempting as it may seem, finding the right employment and negotiating your first job salary can be the most intimidating experiences one can ever endure, especially the latter phase. In fact, experienced candidates feel numbness all over their body when it comes to asking the recruiter to raise the salary a bit. The main source of such intimidation is usually the fear of losing a lucrative opportunity. After all, you can’t expect everyone to enjoy a six figure salary in today’s declining economy.
Nevertheless, with some useful tips, you can easily negotiate your first job salary with your future employer without feeling intimidated at all.
Table of Contents
The first important thing you need to do is research. Remember, research allows you to get prepared for the battle by strategizing a plan ahead. Start your research by surfing the job portals on the internet and checking the starting pay for the concerned job position in the market. You may also check the job advertisements posted by the competitors of the company you are applying to and see what they are offering for the same job.
Another idea is to find people from your social circle on internet who can help you with understanding the standard wage rates for the job. There are also many professionals on LinkedIn, Facebook, and Google Plus who can help you with that.
Determine Your Needs
Remember that you are human just like others and you have your needs to fulfill. Graduates mostly suffer from student loans that they had to take while studying so that they may complete their education. However, those debts become a huge burden on students with the passage of time. Apart from the student loan, there are your bills, rents and other living expenses that you need to take care of as well. Definitely you won’t be able to afford that job if your salary is below the level of your needs.
Keep Your Expectations High
Always demand a salary that is higher than the expected pay. Smart people usually do it because they understand how the hiring managers’ mind work, i.e., whatever the expected salary you demand, they always offer the pay that is lower than the expected salary.
Compare Your Skills with The Salary Offered
If you think that your salary does not meet your expectations, then show comparison of your skills with the salary that the recruiter has offered. Ask him to raise your salary as it does not justify with your skills and capabilities.
Have a Look at The Market Conditions
Before going to negotiate salary with the hiring manager, you must know your worth in the market. Determine whether your skills are in high demand or not. If your skills are in high demand in the market, you can easily ask for a good pay scale.
Don’t Forget To Discuss Job Perks
Apart from the basic salary, ask if the company is providing any other perks or benefits like insurance, transportation, pension, holidays and medical. These job perks can cover all your needs even if the recruiter hires you on a low pay grade.
Know Your Minimum Acceptable Salary
While discussing your salary, you also need to know about your minimum salary upon which you will agree to work in that organization. You should agree to the minimum salary that fulfills your needs and wants.