FACE TO FACE
The Art of Negotiating
by Fred Coon

Everyone wants to make a lot of money, but most people don’t know how to go about getting what they feel they deserve. Employers want to pay you what they want, and not a penny more. You want them to pay you what you feel you are worth, and not a penny less. How you address this dilemma will determine how successful you will be when negotiating your salary. A consultant I once employed used to tell clients that "negotiating a salary is much like playing high stakes poker. There are good hands and bad hands, just as there are good offers and bad offers. The expert poker player knows how to handle both."

When you go through the interview process, you collect a lot of information about the company. You should organize this information so you can begin to form a negotiation strategy.

Before you begin to negotiate, you need to prioritize what you want and what is most important, including your salary requirements. Websites such as salary.com and careerjournal.com can help you find salary ranges for specific job titles. You then need to do some research to make sure your expectations are even in the ballpark.

At some point during the interview process, someone has to put a dollar amount on the table. You should ask if the company has range in mind. If they tell you, great! You should try to avoid talking about money first. The sad truth is that there is a 50-50 chance you still might have to be the first one to talk about money. If you are forced into this position, keep the following points in mind:

• The hiring company really doesn’t care what you need. For example, do not say "I need $60,000," or whatever your target salary might be, when they ask. Instead answer that question with what you currently know about your job and its responsibilities, and explain that you feel the range for the position should be $60,000 to $70,000. Follow up by asking if this is the range the company had in mind.
  
  
• If the salary range you requested is too high (say the company has the salary range between $40,000 and $50,000) you can get yourself out of trouble. Start by saying that you want to make sure that you understand the responsibilities of the job. Repeat these responsibilities back to the hiring authority. Your hope is that, by hearing the duties repeated, he/she will realize that the salary he/she placed on the position is too low, and will meet your salary range.
  
  
• On very rare occasions the salary range people request is too low. A quick way out of this situation is to say the dollar figure you stated was base salary, not total compensation.
  
  
• The higher the position, the longer the interviewing process and salary negotiations will take. Don’t lose patience. The rewards are there for those savvy enough to continually add value to themselves during each interview.

Let’s hope the next thing you have to worry about is a job offer!

About the Author: Fred Coon