Negotiating your first-ever salarypays off quite a bitover the course of your career.
But asking for more money when you’re just starting out can be intimidating.
Here’s how to negotiate your pay when you don’t have much formal work experience.
Negotiating your salary is important.
Start a job with low pay, and, sure, you could eventually move up.
But you’ll only move based on that low initial amount.
Negotiating a higher salary doesn’t just pay off in the presentit’s also a long-term investment.
Anything you negotiate in the future will use that higher amount as a benchmark.
Think Like an Employer
Thomas Frank is the founder ofCollege Info Geek.
He says the key to any negotiation is considering what the other person wants.
So it’s important to consider the negotiation from his or her perspective.
Frank adds that this isespeciallyimportant when you lack experience.
If not, can they learn it quickly?
Can it maybe be better?
Will this person actually care about my company/product, or do they just want a paycheck?
Will I constantly be pestered with questions, or can this person find solutions on their own?
How long will this person stay?
Am I going to waste money training them just to see them leave soon?
Am I going to be happier overall with this person on my team?
Will I be stoked to work with them each day?
How will my customers/other employees feel about this person?
Will this person it into the culture?
To make up for your lack of experience, focus on polishing your abilities in those other areas.
Do Your Research
Research is an important part ofnegotiating salaryfor anyone.
But if you lack experience, you’ll especially want to be equipped with knowledge.
Here’s what you should know to prepare your negotiations.
Salary range: Of course, you should knowwhat salary to ask forin your potential job market.
Sites like Glassdoor or Salary.com can help with this.
And the National Association of Colleges and Employers also offers afree salary calculatorto determine a salary benchmark.
Clarke University says that your employer canlikely budget 15-20 percent morethan they initially offer.
Obviously, this is a generalization, and companies will vary.
You’ll have to figure out an amount you feel comfortable with, but research helps with that.
Company background: Texas A&M’scareer servicesrecommends gathering info about the company.
The employer: Frank suggests getting to know the employer, too, in your research.
Overall, the more you know, the more leverage you have to work with.
Focus on Skill
iGrad.com reminds us that, ultimately,skillset should trump experience.
“Share market data that shows how much people with this skill make.
Show how the skill will add to the company’s bottom line.
Focus on what you’re free to do from here on and not years of experience.
Keep the discussion centered on the skill as opposed to experience to maximize your negotiations.”
You may have acquired these skills in an internship, college organization, or part-time job.
Either way, make a run at keep the conversation about your skills and how you’ve honed them.
This is hard, which is why most people won’t do it.
More opportunity for you.
What would you do during your first month?
Ask people who have similar roles.
Then come prepared to the interview with an outline of what you would do in the first few weeks.
You want to prove you understand the responsibilities and role of your potential job.
Learn Some Negotiating Techniques
Not everyone agrees on some of the most basic methods for negotiating.
For example, inhis post on this topic, money writer J.D.
Roth suggests waiting for the employer to make the first mention of money.
Thus, don’t mention your salary expectation until they give you an actual figure. "
But for some, this method may not work.
We’ve also suggested theBriefcase Technique.
What’s your price here?'
This is similar to coming up with a game plan.
you’re free to also use these factors to adjust your negotiations.
Many recent grads feel lucky enough just to get a job and don’t bother negotiating their pay.
But you might be grateful for a jobandnegotiate an income that matches your worth in a workplace.
In fact, doing so is critical.
