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The salary negotiation example below will give you a better idea of
how to negotiate your starting salary package for a new job offer. Salary negotiation is
not an easy task, as there is no standard method. Be prepared for
starting salary negotiation by having a figure in mind and by practicing several
negotiation scenarios.
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Delay starting salary negotiation until the company makes you
a job offer.
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Whether
you are an engineer, business consultant, project manager, sales
consultant, accountant, computer programmer or business analyst, you can
use the starting salary negotiation example below as a guide.
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It is best to negotiate a higher starting salary before accepting a new job offer, as
your chances of achieving a higher starting salary are much better at this stage
than after accepting the offer or after starting the new job.
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If
you know that you will not be accepting a company's offer regardless,
there is no point in making a counter offer or negotiating.
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Let us work work with you so you can negotiate the
best salary.
For more information, email us at info@kmd-solutions.com
with a brief summary of your situation & how we can help you with our salary negotiation,
pay rise or promotion coaching & consulting service. We are based
in Sydney, Australia.
We
can assist:
Fees are discussed & agreed upon upfront. No hidden fees. Very
reasonable rates.
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Keep in mind that most employers are happy to
negotiate your starting salary package as a whole. It is not uncommon for an
employer to negotiate a few extra paid holidays or annual leave in the
first year due to a pre-planned commitment that you may have... etc.
This should be done at the final stage of your starting salary negotiation, after you have covered
your base salary & benefits negotiations.
See our salary negotiation
coaching services.
Within this starting salary negotiation
example there are two sample negotiation scenarios,
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The hiring manager calls you and offers you a job at
$60,000 yearly base salary plus benefits. Whether the offer is verbal
or is in writing,
it is best to conduct the starting salary negotiations verbally ( via phone or in person) and
once you finalize, it is recommend getting an offer letter
confirming all the job offer details.
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When a Company offers you a base salary of $60,000, they usually expect
that you will ask for more and in most cases there is room to negotiate and move the
salary higher. The exception to this is if a pre-determined salary has
already been advertised.
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Let's say you would be happy with $68,000 plus benefits.
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To best negotiate this, you would say something like
"Thank you for your offer and I am certainly interested in the position and Company. Can I get back to you later this afternoon or
first thing in the morning" (if it is already late afternoon). This
gives you a chance to evaluate the salary offered and compare it to
any other offer you may have.
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Most likely the hiring manager will appreciate that
you need some time to evaluate the situation.
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So this time will allow you to evaluate the job offer, the whole
starting salary
package and most important, it allows you to plan your starting salary
negotiation strategy. You may want to write down the steps.
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Do not try to negotiate the base salary and the benefits
at the same time, as you will probably miss out on one of them.. We suggest you start
with the starting base salary negotiations. Once you agree on a
starting base salary,
negotiate additional salary benefits.
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Depending on if you have another job offer, if you are
currently working, job market conditions, how confident you are and a
few other specific factors that vary with each situation and
individual, you need to determine how much to ask for.
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Per the above and depending on your individual
circumstances you can ask for a specific figure roughly somewhere between
$70,000 and $78,000 plus additional benefits. (you may decide to go
higher or lower, depending on your personal circumstances)
To get you to accept the job being offered, some employers will
say that they will review your salary in six months. Be aware that while they
probably will review your salary, they usually will only give you a pay rise if your
performance is above their expectations & not based on how you would
evaluate yourself. So once you start working for
a company the normal pay rise criteria will apply to you, including
budget restraints & strict approval procedures for high pay rises.
Therefore, it is best to agree on a starting salary that you are happy with
before you accept the offer.
To follow are two sample scenarios:
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Scenario 1: You call back the manager and say you would
accept $71,000 and the manager says he/ she can go up to $64,000. You
can pause and give a figure in between. He/ she will either accept
that figure, give you another figure or say they can't go higher than
the $64,000. You can either accept, negotiate further including
additional benefits, ask for more time or give them the least you
would accept. Keep in mind that once you
get to this stage, you need to be decisive and very serious in your
moves. For example don't say something like I won't accept anything
under $68,000, unless you really mean it.
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Scenario 2: You call back the manager and say you would
accept $71,000 and the manager says he/ she can not go higher than the
initial figure of $60,000. You can either accept, try to
negotiate some additional benefits in your salary package, ask for
more time or give them the least you would accept. Again, you need to be decisive and very serious in your
moves. For example don't say something like I won't accept anything
under $68,000, unless you really mean it.
Instead of writing a starting salary negotiation request letter or sending an email, it is best to have a
meeting or discuss over the phone. Through the
hidden job market, if a company is contacted by the right candidate, without having to
advertise or having to go through the extra trouble of searching, they
will hire that candidate. As this candidate would be the only candidate,
he/ she will be
in an excellent position to be able to negotiate a higher starting salary.
To read the starting salary negotiation
scenarios again.
See resume
writing services. We are based in Sydney, Australia.
Also see our salary negotiation
coaching services.
Use the above starting salary negotiation sample as a reference, taking into
consideration your own personal circumstances. Soon, we will be adding more
starting salary negotiation examples & sample scenarios, starting salary negotiation techniques &
starting salary negotiation tips. Also,
we'll be offering online salary negotiation coaching.
ASK US
if you have questions about the above starting salary
negotiation example or if you need assistance/ advice to help negotiate your
starting salary. We are based in Sydney,
Australia.
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