The economy is very hard right now, don't get me wrong. But some people have had the opportunity of finding a job also. Have you found a job recently? Did you negotiate your salary?
Here's an interesting article on negotiating your first salary.
Here's another one.
When searching for a job, you DO have the opportunity and choice to negotiate. If you're not picky at this moment, then you might take anything due to personal reasons such as just needing a job right away.
However, if you do want to negotiate, here are some tips/hints/suggestions to think about:
- Understand how the economy is influencing the company that you wish to work for. Not all companies are struggling. Some actually benefit from downturns. This can be very helpful in determining how much they are willing to flex in your salary
- Understand the overall unemployment rate in your local area
- What's the demand for the job you are applying to? Some jobs might have literally hundreds and thousands of applicants, but the growth rate for the job might only be around 1% for the next 10 years. That means that there are probably way more people getting into the field, then are leaving.
- How fast does the company you are applying at want to fill that position?
- What is your expertise? Schooling? Experience? A person might be over qualified for a job and that might hurt them. You need to learn how to sell your important attributes.
In the second article, they say “* The counteroffer. Employee: I got a job offer for 10 percent more than I'm making. Employer: Um. Let me see what I can do.” I wouldn't recommend telling your job that you received a counter offer for numerous reasons:
- This might show that you are not loyal and trustworthy to the company
- It shows that if another job or offer did come around, that you might leave
Of course, sometimes it might work. Do you know when the counteroffer has worked?
Subscribe to get the free Master Your Money course!
Join the free email course and finally learn how to manage your money better, pay off debt, save more money, and reach financial freedom. Get our newsletter and get access to the freebie:
Kevin says
August 12, 2011 at 9:08 amUnfortunately, my salary isn't negotiable. There is a set pay scale based on years of service and degree. The union can debate it but we can't. It's just part of the contract.Would I debate it in this economy, if I could? Yes… although I might worry about it back-firing.
Michelle Parker says
August 12, 2011 at 10:24 amThat's how I feel. I would be nervous that they would just say "NO", but I think it just depends on how much confidence you have in yourself.
Eric Finlay says
August 12, 2011 at 11:35 amI've never negotiated a salary (don't have one yet), but had an embarrasing amount of success playing a kitchen job and a butcher job against each other.
BTHappyHomeowner says
August 12, 2011 at 11:42 amThis comment has been removed by the author.
BTHappyHomeowner says
August 12, 2011 at 11:43 amI recently change industries, and I chose to negotiate vacation time in lieu of salary. My biggest selling point was waiving my health benefits because I have stellar coverage through my part-time job (crazy but true–I get full-time benefits for a salaried part-time job; the joys of working for a University!). I parlayed the company savings of my health benefits into an additional week of paid time off and flexibility to take two week-long vacations this fall (that had already been planned prior to accepting this position, but still!).In response to your previous post about side gigs, I do love them, and I've written posts about how I do it. I have a full-time job and two part-time jobs, but I also find ways to bring in additional income monthly.Lastly, I'd love to trade links on our respective blogrolls. Check out my blog and let me know if you'd like to as well!PS-Welcome to the PF blogging world; you're going to love it!
Shoe.Gal says
August 12, 2011 at 12:26 pmI know a number of people who have recently gotten new jobs and they have all negotiated the salary. Even if you do not get it does not hurt to ask.
Michelle Parker says
August 12, 2011 at 12:55 pmThat's so good that you were able to negotiate vacation time and that you have such good benefits at the university! Are you a professor? I'll have to check out your posts about side gigs, I want one soon. And yes I'd love to trade links! e-mail me at masnr9@gmail.com if you'd like.
BTHappyHomeowner says
August 15, 2011 at 3:29 amNot a professor, but thinking about becoming one at some point down the road. I'm more research-based right now. Thanks for the trade–I'm adding your link now! I'll also send an email (but I'm redundant like that…haha).