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These expert tips will help you negotiate the salary for your first job offer

2021-11-07T01:37:32.127Z


Being a beginner doesn't mean you can't discuss money with your employer. Recognizing the value of your professional profile and being informed about the market in which you operate can help you earn more profits.


By Kelly Heinzerling-

CNBC + Acorns

Getting your first job offer is exciting - being hired full time can mean salary, benefits, and a path to financial independence.

But before you jump into accepting an offer, it's important to assess what exactly the company promises you and negotiate your salary.

Most people don't like to negotiate.

More than half (56%) of workers do not do so when they are offered a job offer, according to the

CareerBuilder

website

.

But there is good news: Most employers negotiate, even with first-time employees.

More than half (53%) of employers said they would be willing to discuss newcomer salaries, according to

CareerBuilder

[At least 18 billionaires obtained stimulus checks intended to help those affected by the pandemic]

In fact, it's built into their strategy - most employers will offer a lower salary to start with, leaving room for negotiations.

So if you don't negotiate, you could be leaving money on the table.


Women are less likely to negotiate their salary at their first job.Fiordaliso / Getty Images

And the payoffs from those negotiations can be huge - in some cases, 11-20% more, according to Jobvite's Job Seeker Nation study.

So let's say you are offered a starting salary of $ 40,000, 11% of that amount is $ 4,400.

And that's per year.

So if you stay at that job for two years, you will have earned an additional $ 8,800.

Three years: that's $ 13,200. 

Also, if you are applying for a promotion in a few years, you will be negotiating that salary from a higher rung on the salary scale.

And as you move up, you will continue to earn more than you would have if they had settled for the first offer.

That means paying off student loans faster,

having more money in your pocket, being able to afford a better apartment or house.


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If you think so, why negotiate?

More than half (51%) of workers who do not negotiate do not do so because they are not comfortable asking for more money, according to

CareerBuilder

.

Almost half said it was because they were afraid the employer would withdraw the offer.

More than a third said it was because they did not want to appear ambitious.

Some negotiation experts and people who have experience in this field discuss tips for tackling your first job offer.

How to ask for more money

"A job offer is always negotiated ... job offers are dynamic," says Liza Babin, a 23-year-old who works in the entertainment industry and who negotiated her salary in her first two jobs.

"They have chosen him because he is the best person for this job, and he has a lot of value," he explained.

He recommends never accepting an offer immediately

and instead taking time to research the market for that position.

Once you know what you want from the negotiation, ask to talk about the offer "very calmly, calmly and well documented."

Lisa BabinHenry Platt

Kate Dixon, a negotiation coach and author of the book

Pay Up: Unlocking Insider Secrets of Salary Negotiation

, says she suggests to her clients that they approach salary negotiation as collaborative.

If an increase is proposed in this way, both parties remain on the same team.

He advises saying something like: “Based on my research, jobs of this type are paid between X and Y in the market and I am aiming for the higher end.

How close can we get?

This type of phrase helps show that you have done your research and gives you a range of options to resolve this negotiation, while allowing you to begin your relationship with the company with confidence. 

But there are other options besides asking for a higher salary.


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Peter Cappelli, a professor and director of the Wharton School of Business Center for Human Resources, says another strategy is to ask for one-time payments, such as a premium for signing the contract or increased coverage of travel expenses.

That may be more successful than asking for the long-term value of a higher, recurring salary.

[Applications for unemployment assistance fall to a new low since the pandemic began]

"Look for things that you think are easier to give and things that are valuable to you," Cappelli said.

He assured that knowing what is on the table to negotiate in addition to salary - such as delaying their start date, more time off or the title of the position - makes their negotiation stronger than making demands they cannot meet, such as higher salaries or healthcare packages outside of your standard offering.

How to prepare a negotiation

An important part of the negotiation process is being prepared for what may come up.

Knowing what a reasonable claim is shows the company that you have done your research to make a fair request.

Cappelli stresses that it is important to have a reason for asking for negotiation.

For example,

if people in your area, from other companies in a similar position, or candidates with your level of education tend to earn more. 

“You need a reason that justifies a higher salary.

Just saying 'I want more' is not going to do it and it may seem silly, "says Cappelli.

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Leveraging her previous experience as the basis for a salary increase was especially key

for Alba Disla when she negotiated her salary on her first full-time job with the Diversity, Equity and Inclusion team at Comcast in 2019.

"I was very nervous because I just wanted any job and I was so ecstatic that I even got the offer," Disla said of what was her dream job at the time.

"I had no formal business experience, but I had a lot of prior experience in an academic setting, so I used that to muffle my argument."

Alba Disla Debbie Rabinovich

Disla ended up getting his offer raised by $ 4,000.

"I was very happy to have negotiated successfully because it was something that scared me very much, but I know it is important when I start my career, especially as a woman of color," said Disla. 

"It is really important to advocate for yourself from the beginning."

Dixon says it's common for first-time negotiators to be nervous, but it's important not to take what amounts to a business transaction personally.

"If you can

get a little emotional distance, it will allow you to be much more effective in salary negotiations,

" said Dixon.

"What a company offers you says more about how they value that job than what you are worth as a human being."


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Trading risks

One of the biggest worries people have when negotiating is often getting the offer taken away.

Negotiating a first job can seem especially risky, since you come from being unemployed and that makes you think you have little influence. 

But experts said the biggest risk is just that the company says "no."

"I've never seen an offer withdrawn from someone who negotiates in good faith," Dixon said.

"The risk of having your offer withdrawn for doing a negotiation is practically nil."

Disla added that that was exactly what he feared entering the negotiation.

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"A very important psychological aspect that I had to overcome was that a part of me did not want to face them or counteract because ... what if they withdraw the offer?"

says Disla.

"But it doesn't happen like that, the worst case is that they return the original offer to you."


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However, Dixon cautioned that trying to push someone beyond a "best and last offer" can lead to frustration from potential employers. 

Asking for more once the line has been clearly drawn is the only negotiation that can be considered a “risky proposition”.

He recommends approaching a negotiation with gratitude and enthusiasm for the offer to approach the negotiation in a positive light.

Thinking of the negotiation as a collaboration and not as a competition will make the conversation a productive one and not an aggressive situation.

Recognize its value

“Even if you don't get anything monetary, you are showing who you are as an employee.

He is showing them: “I advocate for myself.

I understand my value, ”says Dixon.

Being aware of that is something Babin reminds herself before entering into a negotiation.

"Coming from that place of insecurity when you drop out of college and have nothing to lean on, it's very important to know your worth and be able to stay strong during those negotiations," Babin said.

"Make sure you remember your own worth throughout the process, because it can be very easy to get discouraged

.

"

For women especially, negotiating for a first job is an essential way to get started at a fair financial point.

Hired found that 63% of the time, men were offered a higher salary than women for the same job.

Yet only 7% of women even try to negotiate their first salary, while 57% of men do, according to a study by Carnegie Mellon University professor Linda Babcock.


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Therefore, bargaining is essential to get a fair offer, especially for women.

Jordan Mathews said she negotiated her most recent job offer, despite knowing how difficult it is to negotiate a salary with the government, because she felt that, as a woman, it was a "priority" to at least try. 

After three months of negotiations and undergoing a security check, Mathews began working as a program analyst on the Department of Justice's community relations services team.

Mathews said she has no

regrets for the amount of time and effort she put into negotiating, as she is "very happy with the end result."

Jordan MathewsKamil Hamid

"I knew I had many skills and experiences that were valuable and deserved to be recognized in my salary," said Mathews.

“Do not underestimate or underestimate any skill you have that may be relevant.

Everything is valuable.

You have more power when you want it at work ”.

So for everyone wondering whether or not they should negotiate a job offer, they have very little to lose and possibly a lot to gain.

Experts recommend LinkedIn videos

,

the NPR

Life Kit

podcast,

or negotiation books for information.

Once in the negotiations,

Glassdoor

and

PayScale

are great resources for getting an idea of ​​the market salary for your position. 

For Mathews, Disla, and Babin, having a mentor to support them through the process was essential in helping them steer the negotiations with end results they were satisfied with.

Ultimately, don't be afraid to negotiate for what you think you deserve.

[These strategies will help you organize a budget to improve your personal finances]

"People feel that

millennials

may want to not be recognized in a certain way, but I think we have to change our perspective," Mathews said.

“Having employees who come in, who recognize their value and what they are going to add to a team is something that, hopefully, (companies) want.

In fact, it shows confidence. "

This article is part of the 

Invest in You Ready series.

Set.

Grow

 (Invest in you: Ready. Done. Grow), an initiative of CNBC and Acorns, the microinvestment app.

NBC Universal and Comcast Ventures are

Acorns

investors 

.


Source: telemundo

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