5 Salary Negotiation Mistakes to Avoid

Research shows that accepting the first job offer that come their way is a mistake job seekers need to avoid. A study by the Creative Group revealed that “professionals who accept an initial job offer may be leaving money on the table, as more than 60 percent of the executives surveyed are at least somewhat willing to negotiate compensation when extending a job offer to a top candidate.”

Experts said that job seekers have more leverage than they realize when negotiating a salary. Companies are motivated to hire a person even if they have to make a more attractive offer. Those who prepare thoroughly for negotiations are ones who will succeed the most.

Salary negotiations are delicate conversations that can easily go off track. These are five common salary negotiation mistakes and how to avoid them:

1. Being unprepared
Before you enter negotiations, you should be fully aware of the current salary trends of your position and location. Review your compensation sources to ensure realistic expectations.

2. Faking it
Never mislead your prospect employer with your current salary or job offer because most often than not, it will backfire on you. You have to be honest about the current situation.

3. All about you
A new car or down payment for a home shouldn’t be the reasons why a job seeker should ask for higher starting salary. Instead, you can make a point by talking about the value you can bring to the organization.

4. All about money
There is more to a job offer than just salary. It’s just a part of the equation. A good benefits package should also have opportunities to learn and grow with the company. This may compensate a lower starting salary. When evaluating a job offer, remember to always look at the full picture.

5. Setting a tone
Do not give ultimatums early on because it will cause negotiations not to succeed. Look for a common ground and don’t take an opposite stance from the employer. How you conduct yourself during the whole interview will set the tone for employment.

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