Finding a new job under any circumstances presents a challenge. Landing a job during a difficult economic period (like now) can be even more difficult. Figuring out how to make a resume stand out, how to connect with the right employers, and how to ace an interview could take a professional months. Unfortunately, even if you manage to do all of those things, negotiating a contract with your new potential employer could present further problems. As such, today we’ll explain how you can successfully negotiate with your new boss to ensure you get paid what you’re worth. Check out our top tips here:
Filter Your Job Searches by Salary
Keep in mind that you can’t squeeze blood from a stone. So it doesn’t make much sense to apply for jobs that pay much less than what you expect/need in terms of compensation. Thankfully, most jobs openings on popular websites will come with an estimated salary figure along with it.
Do Your Homework
The more you understand about your industry, your place in it, and the value you can bring to a company, the better off you’ll be when you start negotiating. Determine how much the “average” person in your role makes to start. From there, look at your employer’s financial history and see how profitable they’ve been over the past few years. Just having these figures in mind will give you a good starting point when you kick negotiations off.
Even after you’ve had an initial offer from one company, don’t stop applying for other job openings. It’s possible that you won’t see eye-to-eye with a potential employer about your salary or other forms of compensation. In such a situation, it’s imperative to keep other options open should you need them.
Be Willing to Wait
A little patience can earn you a hefty bonus if you play your cards right. Often, professionals looking for a new job are willing to take less than they should because they need the short-term income injection. Yet, if you manage to freelance and find other side hustles to support yourself while you look for a full-time position, you’ll be able to wait for the right opportunity to come your way. Accepting a job at a company that doesn’t value you properly is typically a bad long-term decision for your career.
Just because an employer isn’t able to offer you the exact salary figure you have in mind, it doesn’t mean you can’t come to some sort of agreement in the end. Business leaders may be willing to offer you other forms of compensation –– like stock options or special perks –– in lieu of a higher salary. Bottom line: don’t dismiss the opportunity to invest in yourself or a thriving business. Rather, keep an open mind during negotiations and retain some level of flexibility.