Becoming a Master Player

 

Your first salary will determine future earnings, so negotiate well.

 

 

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It continues to be a tough job market for young professionals starting their careers, and that delay in landing a first job can have repercussions on one's career for years to come. Landing that first job later in life makes effectively negotiating a first salary even more critical. Early career earnings are a predictor of future earnings potential, and young professionals who negotiate a higher starting salary right out of the gate will set themselves up for higher earnings throughout their career.

 

Consider negotiating a tactical and strategic game of career chess. You advance your pawns forward throughout the applicant, interview, candidate of choice, reference, offer and salary negotiation process. The career chess game is divided into three phases: preparation, middle game and endgame. Learning to play the game well requires getting over any discomfort or anxiety about salary negotiations and developing a healthy-but not inflated-ego.

 

 

Preparation

 

Research potential companies you might like to work for. Choosing an excellent organization and a good position can make a vital difference in your job fit and satisfaction, opportunities for advancement, and earning potential.

 

Do your homework in advance; it will pay off in both the short and long term. The best jobs can prepare you for the next steps in your career by developing valuable competencies and assets for future career moves.

 

Show an employer that your background, experience and education match their needs. It's difficult for a potential employer to argue with articulated talent and potential. When you prove to an employer why you are a perfect fit for a situation, it will make it easier to negotiate the
salary package.

 

Also assess your financial worth to a prospective employer. Before you enter the job market, you need to know the going salary range in your geographical area for someone with your education, background, training and competencies. This information can be used at the right time as a bargaining chip to secure the salary you want. You will do yourself a disservice if you request a salary that is either much lower or higher than the area average as it shows a lack of knowledge.

 

Middle Game

 

This phase of the game is a sales gig. People who are good at sales are confident and knowledgeable, but not cocky. As a young professional with less job experience, you have to work hard to sell yourself. Although it may feel awkward to articulate your strengths, if you do not believe in yourself 100 percent, an employer won't either. The goal is to have enough positive interaction with the interviewer to have a chance to sell yourself and convince him/her that you are the right person for the job-before salary is discussed in any detail. You don't want to come off as cocky or arrogant, but you do want your employer to know that you are worth the investment.

 

It is critical you don't make the first offer. It is best to steer clear of any salary discussion until you have been offered a position. After the employer has decided that they want you for the job, it will be easier to negotiate the salary. Money is an important factor in selecting a job opportunity and negotiating an offer, but it's not always the most important one.

 

Evaluate the total compensation package: salary base and bonuses, potential earnings, insurance, paid leave, stock options, and retirement plan. Place a dollar value on the entire offer and factor in things that may not have a price tag such as training and development on the job.

 

Endgame

 

With optimal earning potential in mind, here are some questions you might ask during the negotiation process. You will be gathering important information and showing the hiring manager that you are a good negotiator.

 

   Does this salary reflect base only?

 

   Regarding benefits, please provide details. When do they start?

 

   Will there be a sign-on bonus?

 

   Is this a firm offer? Is it negotiable?

 

   Will I receive this offer in writing?

 

   When would you like an answer?

 

   What is the start date?

 

   When and how will I be evaluated, and will there be an increase on the basis of that evaluation?

 

Remember, bargaining and negotiating do not come naturally to most job seekers-especially those with less experience. What you ask during a salary negotiation doesn't just influence how much you earn-it also tells future employers whether you are good at negotiating.

 

Come to the negotiating table knowing your limits. These limits can be based on the salary ranges that you will consider, as well as the average salaries paid to other employees in similar positions. Assess whether you want a base salary of a certain amount or will accept some money as a sign-on bonus-with the realization that bonuses do not always transfer from year to year. Do not go below your bottom line.

 

 

Negotiations boil down to knowing what you are worth in the marketplace, identifying which benefits are important to you, and putting a price tag on the benefits offered so that you can evaluate the real value of the offer. Total compensation encompasses much more than salary alone.By becoming a savvy career chess player, you will achieve your career goals and optimize your earning potential. 

 

Sheila J. Kabat is vice president of human resources and organizational development services at Snowden Associates, an HR consulting firm with offices in Bedford, Nashua, and Portsmouth as well as Portland, Maine and Boston. She can be reached at Sheila@snowdenassociates.com.