Suggested Salary Negotiation
Guidelines for Recent College Graduates
By David Gordon
Director for Advertising/Promotion Internships
Marketing Communications Department
Columbia College
Salary negotiation for many students, or even more experienced workers, can be an emotional experience. Yes we want the job, but we need more money, or we simply want to feel that we're getting paid what the job is worth from a prospective employer yet we might be a bit reticent about being more assertive.
To add to this dilemma how do you negotiate a higher salary or improved fringe benefits, as a graduating student, if you have little or no experience? The answer is, that while you don't always get what you want it is important to understand the negotiating process and how it works and to start integrating yourself into a more active role, if only to feel more in control and perhaps make more money in the process.
Understanding the process
Let's start with a definition of what negotiation is. Very simply, it's meeting and discussing a subject with another person in order to reach an agreement. The art of negotiation is based upon mutual agreement of issues, not confrontation.
While salary negotiation begins after the interview process, it really starts for you with the initial interview. Because it's what you tell the company about yourself, your accomplishments and what you can do for them that will increase your value when the time to offer you a job comes. Use active words in the interview to describe your accomplishments such as: I initiated, I oversaw, I created, I took charge of, I followed up on, I actively contributed to, and I developed. The ability to handle details, multiple projects or excellent time management and follow up skills will also contribute to your value.
Negotiating is not merely saying, “I want more money”. You will need to have answers to certain questions prior to discussing your salary, to know if there is even a chance to get more. Among the questions to which you should have answers are:
· What is the salary range of the job that the employer and or the industry have established?
· What is the lowest salary that I will consider?
· What makes me worth a higher salary?
Some places you might go to get salary information are National Association of Colleges and Employers, your college career services office, people who work in that industry or at that company, libraries, job hunting web sites on the internet, trade associations and trade publications.
Even if you know the answers to these questions, there will most likely be some objections to your request for more money. Among those:
1. you don't have enough experience
2. other employees aren't making more
3. the budget won't permit it and, of course, the ever popular
that's what we're paying new hires.
Think about how you would respond to these objections in a way that continues the discussion on a positive note without backing yourself into a corner. Remember you're asking questions not delivering an ultimatum. For example in responding to the “other employees aren't making more” statement, you might follow up with a response such as: “I see. (a little pause) What is the range for this position? What would it take to get to that higher level within that range?”