Even for the most experienced workers it can be difficult to engage in salary negotiations. For new grads, the whole process can be rather intimidating. Money talks are uncomfortable conversations during job interviews, although they’re fundamental because they determine the starting income of a new grad and serve as a limit for future bonuses and financial compensations. According to recent studies, an average salary package for a new grad in 2013 was $44,900, with 5.3 percentages higher than in 2012 when the amount was about $42,600.
When entering job interviews, most employers expect candidates to want to negotiate and talk about salary and extra perks throughout the hiring process. However, not many can find the courage to ask for more, or even disagree, and that’s usually because they fear the hiring manager will withdraw the initial offer and not give them the job.
Are you the candidate they’re looking for?
Prior to engaging in a discussion with a hiring manager about financial compensation, job seekers must prove to hiring managers that they’re the right person for the job. They should acknowledge that their lack of experience will influence the offer. Nonetheless, they’re at liberty of discussing extra perks based on performance. New grads should have realistic expectations when entering job interviews, as there are many companies searching for hard-working people; so if you’re committed, you have high chances of climbing up the ladder and making more money as you gain experience.
The great importance of entering negotiations prepared with information
Many new grads don’t negotiate. Some are terrified by the process as it is, while others don’t want to seem too demanding in front of the hiring manager. And yet, you still can’t attend an interview and not know how much the company is paying other employees for entry-level positions. What if they ask – “how much do you expect to earn on a monthly basis?” You can’t just say “I don’t know” or “Whatever amount pleased you”.
Researching salary figures on websites such as salary.com, indeed.com, payscale.com and livecareer.com will give you an idea of the amount you should expect. This will prevent you from being too assumptive and aiming too high.
Salary negotiations matter because they foster relations
It’s ok to be nervous when entering a job interview, although you don’t want the hiring manager to know how nervous you are. Many people don’t negotiate an entry-level salary because they presume they don’t deserve more, which by the way is a huge mistake. Negotiations have the power of fostering professional relations; even if they can’t offer you a better-paid salary, this doesn’t mean they can’t come up with non-financial incentives.
Hiring managers appreciate people who can negotiate. It proves that you want to learn and that’s you’re not afraid to speak up. Sound communication skills show that you’re willing to take risks, and stick to your guns.
Choose your words with extra care
Using appropriate language when negotiating a job offer can bring lots of advantages. Candidates must be direct, but polite. If you have a salary range in mind, and the hiring manager is offering less that you anticipated, start negotiating. Even if they can’t offer you more money, they might still come up with extra perks such as, bonuses based on performance, flexible working hours, and more.
Don’t get overly defensive and keep in mind that you’re a rookie. If an offer is ridiculously low and you can’t accept it, then decline it politely. Leave room for further discussions as you may have to deal with that company again, at some point in the future. Job seekers should always maintain a professional attitude when interviewing for a job, no matter what happens. This will say a lot about your character and personality.
New grads should learn to master negotiations if they want to land significant job offers. If you’re terrified of public speaking or you just can’t find the right words when talking to someone, maybe you should attend a couple of negotiation workshops. These seminars are meant to help you overcome all your fears. Be willing to get out of your comfort zone and you have the great chances of mastering negotiations when attending job interviews.