Do Your Research Before Beginning Salary Negotiations

Tip of the Day

Roll of DollarsOnce you’re offered a new job, it’s time to negotiate your salary, time off and other benefits. You can’t do this in a vacuum. As in every other part of the job-hunting process, the more you know about the employer and its business, the better chance you have of getting what you want.

Before you begin discussing salary, determine a preliminary compensation range that’s appropriate for someone with your skills and experience. You can find the information you need in salary surveys from trade publications and associations, plus data from compensation websites. Also, get feedback from colleagues, IT managers (when you can) and recruiters to customize your range.

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Since salaries are influenced by local competition and economic conditions, employer size, benefit packages and sector profitability, you need human intelligence to extrapolate the data. For example, financial services companies in New York may be willing to pay a premium for professionals with five years of ERP experience, but it may be difficult to get a higher salary in markets that are flush with qualified candidates.

Keep in mind that titles have little bearing on compensation. To establish a realistic range, review the job’s requirements and assume that your salary will fall somewhere in the middle. Then, consider your own strengths and weaknesses to determine how they impact your worth.

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