2 answers
Talya
Student
Charleston, South Carolina
2
Questions
Asked
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How do I determine my worth and negotiate salary effectively without pricing myself out of a job?
I'm about to graduate college, and I have a pretty good resume, some networking experience, and I'm on my second internship (looking for a third in the spring). I'm making a concerted effort to be as marketable as possible, but I'm concerned about answering interview questions related to salary. Any advice?
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2 answers
Lynn Hutchison
Director Strategic Integrated Planning
23
Answers
Dacula, Georgia
Updated
Lynn’s Answer
Hi Talya,
Many larger companies use HR policies and have set salary ranges based on experience. I would suggest doing some research prior to getting to the point of salary using sites like Glass Door which allows people to share their salaries and uses that information to show the ranges for that particular title within an organization. Also when you apply for a position, many companies share the range for the position. If you don't have true experience in that role, then you will be likely be offered the lower side. Large companies often target to have 80% of their emloyees near the mid-point of the salary range. That being said, if a range is say 50-80k, work from the midpoint rather the lower point. Point out WHY you are worthy of more. Remember, you can always come down. Just remember to leave the door open. Let the person extending the offer know that you are negotiable and being new to the workplace, you are unsure of what is an acceptable demand. Keep in mind the average young person will change jobs 7 times before settling in with a company. Many analysts attribute this to the fact that outside of a promotion, it's hard to move up in salary once you are with a company. Changing companies allows you to utilize your experience to command more. That being said, your first job out of college will likely be one of those stepping stones! Think of it that way and even if it doesn't pay as much as you feel you are worth, look at the long term value of having that company and position on your resume!
Lynn
Many larger companies use HR policies and have set salary ranges based on experience. I would suggest doing some research prior to getting to the point of salary using sites like Glass Door which allows people to share their salaries and uses that information to show the ranges for that particular title within an organization. Also when you apply for a position, many companies share the range for the position. If you don't have true experience in that role, then you will be likely be offered the lower side. Large companies often target to have 80% of their emloyees near the mid-point of the salary range. That being said, if a range is say 50-80k, work from the midpoint rather the lower point. Point out WHY you are worthy of more. Remember, you can always come down. Just remember to leave the door open. Let the person extending the offer know that you are negotiable and being new to the workplace, you are unsure of what is an acceptable demand. Keep in mind the average young person will change jobs 7 times before settling in with a company. Many analysts attribute this to the fact that outside of a promotion, it's hard to move up in salary once you are with a company. Changing companies allows you to utilize your experience to command more. That being said, your first job out of college will likely be one of those stepping stones! Think of it that way and even if it doesn't pay as much as you feel you are worth, look at the long term value of having that company and position on your resume!
Lynn
Nadia G
Psychologist, Coach & Career Advisor
64
Answers
Norway
Updated
Nadia’s Answer
Hi Talya,
I recommend starting by reviewing salary comparison websites, such as https://www.indeed.com/career/intern/salaries?from=top_sb.
Often, it's recommended to add some percentage to your previous salary (like 10-15% or another amount that makes sense from a job or your personal perspective) and to put in a range between your minimum accepted number and the maximum that would be nice to have.
My advice here is to always justify that by providing fact-based arguments, ideally with a reference to the points in your resume.
Example: My expectations are from X to Y because I have already worked in technology A for a couple of months/years, I speak the B language, and I have completed C projects.
You can also add that you are open to negotiations; however, only if you are really ready for it. It's also worth asking if the interviewer can confirm if your expectations align with their financial capabilities. This will help you feel reassured and informed about the potential outcome of the negotiation.
I recommend starting by reviewing salary comparison websites, such as https://www.indeed.com/career/intern/salaries?from=top_sb.
Often, it's recommended to add some percentage to your previous salary (like 10-15% or another amount that makes sense from a job or your personal perspective) and to put in a range between your minimum accepted number and the maximum that would be nice to have.
My advice here is to always justify that by providing fact-based arguments, ideally with a reference to the points in your resume.
Example: My expectations are from X to Y because I have already worked in technology A for a couple of months/years, I speak the B language, and I have completed C projects.
You can also add that you are open to negotiations; however, only if you are really ready for it. It's also worth asking if the interviewer can confirm if your expectations align with their financial capabilities. This will help you feel reassured and informed about the potential outcome of the negotiation.