Are you on the verge of negotiating the terms of a new job? Or maybe you're trying to get a raise, but have no idea how to go about it? On this week's episode of Salary Talk, Aaron and Wendy chat with Jack Chapman, a nationally renowned career advisor, who has written a book that will hold your hand as you go step-by-step through the negotiation process. Negotiating Your Salary: How to Make $1000 a Minute gives you five hard and fast rules for negotiating an offer or promotion, and Jack shares invaluable tips on how to get what you want at every stage of the negotiation process.
At what point during the interview process should you talk about salary? Should you bring it up or should you let them do it? And how do you know when to accept, ask for more or walk away?
The answers to these questions are important. So vital, in fact, that nationally renowned career advisor Jack Chapman has dedicated himself to helping his clients find the answers. Because, as Jack points out, a misstep during initial negotiations or not getting enough at the outset can have a ripple effect that will see you earning less throughout your tenure at that particular job.
Negotiating Your Salary: How to Make $1000 a Minute is Chapman's book that lists five hard-and-fast rules of salary negotiations and gives you step-by-step instructions on how best to proceed.
For instance, many employers want to know your salary history and future salary requirements at the beginning of the interview process. But coming in too low or too high can get you screened right out of a good job, so Chapman suggests making a deal. Give them a number but only after checking in with the hiring manager to make sure supplying them with a figure won't get you bounced so early in the game.
Also, while the prevailing wisdom regarding salary offers used to be "let them speak first," Chapman said times have changed. Now the first one who throws out a number may be at an advantage, because that number acts as a magnet and pulls the final offer either higher or lower.
The importance of preparation cannot be understated. Chapman suggests creating Ideal, Satisfactory and No-Go salary figures for yourself. When the offer is made, take 30 seconds of silence to mull things over before deciding on a course of action. Even if the salary is below your No-Go number, it's also important to consider benefits because if the company will pay 100% of your health insurance then that's a decent trade-off.
This is just the tip of the iceberg, and more details can be heard in the podcast and by buying this great book!