The Dreaded Salary and Benefits Discussion

For many job seekers, the most intimidating hurdle is not the application or the interview; it is the salary and benefits discussion. Talking about money is often uncomfortable, and candidates who cannot advocate for themselves may end up settling for less than they deserve. Getting the best possible compensation package requires research, preparation and a healthy dose of confidence.

Understand Your Market Value

Before you go in for a salary and benefits discussion, you should have a solid understanding of your fair market value as an employee. Research the common salary range for people with your level of experience and education using data from the Bureau of Labor Statistics and websites such as PayScale.com and Salary.com. If possible, poll other professionals in your area to find out how local salaries compare. Information about the standard pay in your industry and city gives you a starting point for salary negotiations.

Hold Your Ground

Employers often present the first salary and benefits offer; it is up to you to negotiate for more. Avoid the temptation to accept the first offer, no matter how resolute or final it sounds. Instead, express your enthusiasm at working for the firm and your appreciation for the offer. Then, say something along the lines of, "Based on my experience, education and performance, I expected to be in the $X to $X range. Can we look at a salary of at least $X?" Practice this discussion in advance with a friend to get accustomed to saying the words. Most importantly, don't back down if the employer refuses. Instead, reiterate your interest and the things you bring to the company, and wait for the employer to make a second salary and benefits offer.

Negotiate Alternative Benefits

In some cases, a company has only a small amount of wiggle room for salary negotiations. To reach your desired compensation, consider negotiating for extra benefits. Ask for an extra week of vacation time, updated software, new office equipment or flex time. Consider what is important to you at this stage of your career, and find a benefit that fills each need. If you want to develop your skills, request that the company pay for professional development courses. If you're thinking about retirement, ask about savings-matching benefits. Other nontraditional benefits include mental health coverage, an improved job title, gas mileage reimbursement for your daily commute or a wardrobe allowance. With effective negotiation, your total salary and benefits package can add up to considerably more than the desired salary.

Discussions about compensation are rarely enjoyable. At most companies, the salary and benefits package is negotiable to a point. By understanding your value and knowing what to ask for, you can design a solution that works for you and the company.

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