Salary negotiation is a serious topic to discuss with your potential boss. It is especially challenging and daunting for a fresh graduate who has just entered the workforce and has never done this before. College grads seem to be very anxious and shy about it.
Most students got used to underpaid internships or small paychecks from a part-time job, so now any amount of money would seem enough for them. However, that’s not always true. Yes, the average starting salary for college graduates is not that bad.
The expected rate of pay for a recent college graduate is $10 000 more than for a person without a degree.
However, even if it’s your first serious job, and you feel that you could earn more, don’t be afraid to negotiate the entry level salary. In this article, we will show you statistics that will make you less stressed about it, and also you will get priceless salary negotiations tips that will lead to success and satisfaction on both sides.
Statistics to Make Negotiating Entry Level Salary Easier for You
Perhaps, you have ever never thought the overall success rate is pretty high. Moreover, employers expect the candidates and employees to negotiate a raise, even entry-level ones.
- 48% of employers consider increasing wages in 2019
- 85% of employers are ready to increase the initial salary offer by 10%
- 19% of employees are satisfied with their salary
- 40% of job candidates tried to negotiate a higher salary
- 38% of college graduates negotiate salary raise
- 53% of women and 53% of men want to ask for a raise
- 10% of employers withdrew an offer because a candidate negotiated salary
- 76% of recruiters consider candidates negotiating salary as confident ones for doing it
- 80% is the success rate of negotiating payment raise
These numbers show that you not just can negotiate, but that you definitely should. Getting paid fairly has never hurt anyone. Besides, a higher salary will motivate you for better performance at work, for professional growth and gaining new skills and knowledge. Remember, the fact that little experience does not diminish your value. Companies want their employee to have potential and be willing to work, not just be accomplished.
The Best Way to Negotiate Salary
If you want your first job salary negotiation to be successful, then consider the following tips that might help you.
- Wait a Bit
Don’t try to negotiate your salary right away. The best advice is to postpone this conversation until a company offering you the job. Give your potential employer some time to decide whether you are the perfect candidate for them. By the way, people are usually reluctant to change the recruiting decision they have made before. So use it to succeed in salary negotiation after you receive an offer.
- Stay Positive and Enthusiastic
Don’t get frustrated and disappointed if your employer offered you a lower salary than you expected in the first place. Remain positive and enthusiastic. You’ve got a job offer. It’s amazing anyway, so now be patient before you start to negotiate the possibility of a raise.
- Don’t Rush It
In case the job you’re considering is not your dream job there is no need to rush. You don’t have to accept an offer the minute a recruiter called you. If you feel somehow pressurized, ask your employer to send you an offer via email so you can review it in writing. Make sure your decision is what you wanted. Keep in mind, you cannot wait too long. Employers always want to feel the opening as soon as possible.
- Do Some Research
Don’t overestimate your skills and knowledge. Stay reasonable with your salary requests. Before announcing the figures to your potential employer, do some research and check out median salaries for similar positions to avoid misunderstandings. If you have some doubts, you can ask for a 10% raise from the initial salary offered.
- Be Ready to Explain
Don’t think that simply asking for a raise will be enough. Of course, you will have to explain to recruiters why you need a salary raise and what you will do to make it worth it. Prepare explanations beforehand. Your main duty is to explain to the employer how you can benefit the company and help them achieve their goals. Come up with reasons this salary raise is needed.
- Make Your Final Decision
After all, the final decision is completely yours. Think twice before you answer. It’s up to you whether to accept an offer or not. Nevertheless, no matter what your decision is: express a positive attitude and be grateful for the time recruiters gave you. Who knows, maybe they will contact you later with another more convenient offer.
Now you are ready for negotiating your future salary. Stay confident, and you will succeed. However, there are some cases when payment negotiation will be not completely appropriate. This may concern people working on a government or military position or a job with a large amount of supply. We wish you good luck!