Talking about compensation with a potential employer can be a nerve-racking experience in a tight job market. But most of today’s professionals aren’t shy about asking companies to show them the money, according to a new Robert Half International survey. More than 61% of workers interviewed said they’re comfortable negotiating a higher salary or better benefits.
The survey is based on interviews with 1,024 workers 18 years of age or older and employed in an office environment.
“As the job market improves, professionals have more negotiating power,” said Max Messmer, chair and CEO of Robert Half International. “But, to keep compensation discussions headed toward a positive outcome, it’s important for job seekers to understand just how much leverage they have. Researching prevailing salaries in their field can help professionals make more informed decisions.”
Salary is just one part of the overall compensation package; if a company cannot offer the desired base pay, job applicants should consider asking for extra benefits or perks, such as additional vacation time, a sign-on bonus or flexible scheduling, he added.
The firm offers some salary negotiating tips:
Being afraid to ask. Some job seekers fear asking for a better offer because they think it could damage their relationship with the new employer. Remember: It never hurts to ask, and you have your greatest leverage when you receive the job offer.
Failing to do your homework. Don’t ask for a specific salary simply because it sounds good. Always conduct research to determine your market value by reviewing sources.
Focusing only on salary. Consider the benefits package in addition to compensation. If higher base pay isn’t available, perhaps the employer could offer a signing bonus or early salary review.
Thinking you can’t say ‘no.’ Some people by nature always want to be accommodating, but being able to say ‘no’ is critical when negotiating. If an offer is less than you think it should be, point it out politely then counter with your desired salary.
Failing to get it in writing. Once you’ve agreed on terms, ask the employer to draw up a letter that outlines the specifics of the offer.