How To Negotiate Your Salary

Everyone who wants the best salary they can get has to develop some basic competency in salary negotiation. "Negotiation" is probably the wrong word, because in the back of my mind it's implicitly preceded by "hostage." However, agreeing on a salary doesn't involve the kind of back and forth you'd do with a terrorist or a used car dealer, but just a check to see if there's overlap between the range you each have in mind. We might call it "salary discussion" to better reflect the calm, natural process it's supposed to be.

The main thing you don't want to do is come right out and tell them what salary you want. Although it's honest and direct, it's likely to backfire. You might give a number that's a bit higher than the max they want to pay, and therefore rule yourself out. You also might give a number a lot lower than what they were thinking, and shoot yourself in the foot. So what do you do when they ask that question that they always do?

• Ask what range they had in mind.
  
  
• Say that salary is only one part of the total compensation, and you'd need more information to determine the salary you'd need.
  
  
• Say that salary is only one aspect of the position, and you'd like to learn more about the job and the company to determine the salary you'd need.
  
  
• Express how much you like the opportunity, and say that if you both determine there's a good fit, then you're sure you'll be able to agree on an appropriate salary.
  
  
• Say that based on your skills and experience, you're aiming for the high end of the range for this position.
  
  
• Say you need 24 hours to decide.
  
  
• Say you're new to the area and haven't yet fully researched the local market to see what salaries are like around here. (If that's true)
  
  
• Say that the recruiter said they'd handle the salary negotiation. (If that's true)
  
  
• If you do give any information about your salary history (for example, if a newspaper ad says it's required), give it as a broad range. Look over the last few years and see what your lowest base salary was. Then see what your highest total compensation was, meaning salary plus bonus, plus 401(k) match, plus stock discounts, plus whatever else you can reasonably justify. Then you can say that in the last few years, your total compensation has ranged from X to Y. By specifying a broad range, you potentially qualify yourself for a high salary without disqualifying yourself from a job that pays a bit on the low side but is still attractive.

The main thing is to put off salary discussions until the very end. You don't want to give them a reason to pass on you early on. You want to wait until they've fallen in love with you so you can be assured of their best offer. And never accept a job offer on the spot. Not because you want to hold out for more money, but because major decisions are worth some serious consideration. Always sleep on it, even if you immediately know you want the job. They'll appreciate you giving it some thought, because taking time to think about it shows the professionalism you'll bring to the job. And if they happen to improve their offer in the meantime (salary, vacation, flextime, etc.), that will be a welcome surprise.