Salary Negotiation:
 

Hey Guys,

I have a job interview today. I've researched the company, and I feel extremely prepared for the interview -- minus one key point. Salary. I'm petrified to hear the "What kind of compensation are you looking for question." If I go too low the company feels I'm devaluing myself, if I go too high I'm greedy -- I have no clue what to say to this question.

Personally, I'd like to say something to the effect of: I didn't come into the interview with a number in my head, at this point the experience is the most valuable asset to me. However, I don't know how well that would go over.

If anyone in HR or with experience could help me out, I'd appreciate it. I looked up the title, and the median salary is between 40-55K a year from what I saw (with my level of experience [none])

"Tactical Systems Technician I" is the job title I'm going after if that helps.

Thanks a ton guys!

Re: Salary Negotiation:
 

The safe bet is to request something in the middle of that 40K - 55K range.

They would prefer that you give a number because it helps them make a decision. If you don't give a number, you run the risk of them thinking this guy's making it too hard for us.

If it were me, I'd say something like "Well, I think $50K would be ideal, but $45K would work too." That puts you right in the middle of the range. You've got to pick the numbers that work for you (because if $45K doesn't work for you, then don't say so!).

Other things to consider, do you feel like you'd be a candidate that really stands out from others? Did you go to a stellar college, have a 4.0, have a graduate degree? If any of these are true, you can probably shoot for $50K or higher. If none are true, think $45K-$50K.

Decent starting salary any way you cut it. Good luck!

Re: Salary Negotiation:
 

Actually, I'm still in college. It's customary for students in the GMU IT degree to go into the work force while in school. Thanks for the advice Schneed, ugh I hate that part of interviews.

Re: Salary Negotiation:
 

[quote=Daseal;408503]Actually, I'm still in college. It's customary for students in the GMU IT degree to go into the work force while in school. Thanks for the advice Schneed, ugh I hate that part of interviews.[/quote]

That's right, you had mentioned you were at GMU before. I remember you were going bonkers for the Final 4 appearance! I went to Richmond and when we beat 3 seed South Carolina in 1998 I was flippin out, but that's nothin compared to a Final 4!

GMU's a solid school. If you can do yourself any favors in the interview, it is to appear enthusiastic about working for the company, and to try to appear "polished and professional" beyond your years. Interviews for new college grads are much different than interviews for experienced workers. There are no questions to ask about your work experience. You want to be able to demonstrate that you're a hard worker, show that you're a good and willing learner, and demonstrate that you're ready for the workforce in terms of maturity (acting polished and professional).

Re: Salary Negotiation:
 

PS I think saden works in IT. Might want to PM him for other info.

Re: Salary Negotiation:
 

Make sure you come in with knowledge of jobs in that area too. Call around and even ask some HR departments what the base pay is for the job you're interviewing for.

Re: Salary Negotiation:
 

Not only that, it's been my experience that you're going to get damn near the base salary for the position without experience. Where I work, there's this guy who is TOTALLY incompetent but makes almost double what the rest of us make because he's been around for thirty years.

Get as much as you can first, because it'll take a promotion or a job change to negotiate it again. Talk about costs of living, apartments, houses, benefits, all that stuff.

Re: Salary Negotiation:
 

I would suggest asking for the lower end of the range (e.g. $45K) since you don't have experience, with the qualification that your salary needs depend (to a limited extent) on the fringe benefits and opportunities for salary increases/promotions. It's perfectly reasonable and wise to accept a lower salary now if your future prospects with the company are bright and they have great 401K, medical/dental/optical, disability, and vacation benefits.

Re: Salary Negotiation:
 

Yeah, to be honest the salary doesn't really concern me that much -- it's answering the question I'm afraid of -- I think I'm going to say 40-50K, thats a broad range and hopefully good. I'll still try to avoid the question if possible, but we'll see!

Re: Salary Negotiation:
 

Don't be shy asking high. If they really want you, they'll say this: "Sure, that's more than we're willing to pay, but let's at least OFFER him a lower figure because all he can say is 'no'".

Re: Salary Negotiation:
 

[quote=Daseal;408528]Yeah, to be honest the salary doesn't really concern me that much -- it's answering the question I'm afraid of -- I think I'm going to say 40-50K, thats a broad range and hopefully good. I'll still try to avoid the question if possible, but we'll see![/quote]

You can also skirt the issue totally by saying, what do you expect the salary to be? Put the ball in their court without giving an actual number. If they give you a range, then tell them a number you're comfortable with.

Re: Salary Negotiation:
 

If you know the approximate salary range, don't be afraid to throw that out there and say something like "based on the research I've done the range for this position appears to be X amount to Y amount (at that point you could ask if they agree with said range), and I'm comfortable discussing a figure in this range".

I would definitely avoid getting pinned down to an exact figure.

Re: Salary Negotiation:
 

[quote=TheMalcolmConnection;408530][B]Don't be shy asking high[/B]. If they really want you, they'll say this: "Sure, that's more than we're willing to pay, but let's at least OFFER him a lower figure because all he can say is 'no'".[/quote]

I would agree. In most companies you're going to get your money coming through the door so don't be afraid to shoot high. Not ridiculously high of course, but keep in mind they're going to come at you on the lower end of things so they are playing the same game you will be.

Re: Salary Negotiation:
 

[QUOTE=Mattyk72;408534]If you know the approximate salary range, don't be afraid to throw that out there and say something like "based on the research I've done the range for this position appears to be X amount to Y amount (at that point you could ask if they agree with said range), and I'm comfortable discussing a figure in this range".

I would definitely avoid getting pinned down to an exact figure.[/QUOTE]

Now that I think about it, that's probably the best approach. Show them you've done your due diligence and try to put the ball in their court.

Re: Salary Negotiation:
 

And don't accept the first offer on the spot! There's usually some wiggle room in there somewhere, even vacation time is negotiable with most companies. If they won't budge on salary ask for an extra week of vacation. I've found that companies are far more generous with throwing you an extra week of vacation over giving you more money. So if you value time off, don't be afraid to negotiate vacation time too!

Re: Salary Negotiation:
 

[QUOTE=Mattyk72;408538]I would agree. In most companies you're going to get your money coming through the door so don't be afraid to shoot high. Not ridiculously high of course, but keep in mind they're going to come at you on the lower end of things so they are playing the same game you will be.[/QUOTE]

True. My thought was, if $40-$55K is the range and he doesn't have any experience, shooting for $50-$55K might be unreasonable. Yes, lowballing/highballing is part of the game and everyone knows it, but there's some truth to the idea that going too high can adversely affect your chances of landing the job.

Daseal, can you clarify what you meant by $40-$55K being the median salary? Does that include employees with no or tons of experience? Is that range the industry standard, or specific to this particular company? Is your school considered good in that field? Do you have other experience that qualifies you for the job. All of those factors, IMO, affect what you should ask for.

As Matty said, it's a good idea to show you've done your due diligence. If you are forced to throw out a range or a specific number, have some reasons for asking for that amount/range. IMO, a big mistake in negotiations is to demand X and have no foundation upon which that demand is based. Conversely, the best negotiators aren't the "fist pounders," but those who articulate bona fide arguments as to why their demands are reasonable.

Re: Salary Negotiation:
 

Oh and good luck buddy!

Re: Salary Negotiation:
 

SGG -- The range was compiled from 3 or so salary sites, and the job itself since it's a tier 1 job is for folks with 0-2 years of experience.

Below are the links I used (Can't find one again, but the data was about the same).

[url=http://hotjobs.salary.com/salarywizard/layoutscripts/swzl_compresult.asp?jobcode=IT10000315&jobtitle=Client+Technologies+Technician&jobtitlecomp=&narrowcode=IT04&narrowcodecomp=&narrowdesc=IT+--+Computers%2C+Hardware&zipcode=20120&metrocode=192&statecode=DC&geo=Centreville%2C+VA+20120&geocomp=&pagenumber=1&iscompare=&comparetype=&openlink=&state=Virginia&metro=Washington&city=&isgeometro=1&isforcompanalyst=1&r=hotjbs_swzresbtn_psr&p=&paycheckcalc=0&taxyear=2007&paycheckstate=Virginia&grosspay=54598&grossfreq=a&grossytd=&paypd=26&fedstatus=1&fedexemps=0&additionalfit=0&roundfed=0&statestatus=1&stateexemps=0&additionalsit=0&deductionnum=1&deductiondrop_1=401%28k%29&deductionname_1=&deductionamt_1=&deductiontype_1=3]HotJobs.com - Salary News[/url]
[url=http://www.salaryexpert.com/index.cfm?FuseAction=Free_Salary_NA.Report&DC=Yes&job=86417&zip=20120&area=&JobCategory=unknown&JobAvailabilitySourceVar=28]Free U.S./Canadian Salary Report[/url]

Re: Salary Negotiation:
 

Some definite sound advice here.

If the median salary is $40-55k, I'd think about the lowest amount you are willing to take as an offer, and bump it up about $5k. That'll give them some leeway, and assure that you aren't taking anything below your bottom line.

And since you are in the DC area, most firms know that they are going to have to pay top dollar to keep recruits. If the median is $40-55k, they probably already have the higher end of that scale in mind when hiring for this position.

To be comfortable, I'd budget it out your monthly expenses, and then figure out what your monthly income would be at various ranges. This will also allow you to figure out how much you can contribute to 401K, savings, etc. I wish I had contributed more when I was living at home and had the chance to...

Re: Salary Negotiation:
 

I'll kind of echo some of the other things said here. While you want to give an idea of what you're seeking, you don't want to get pinned down. Leaving it open is key, it puts the ball in their court to offer you a salary they think you'll like. Tell them what you want and what you think you're worth by giving a range. I think as long as you say something within the $40 - $55K you found, you won't be pricing yourself out of the market.

Whatever they end up offering you, ask for 5% more. The worst they can say is no, our offer is take it or leave it.

Re: Salary Negotiation:
 

Yeah, I appreciate the help guys -- one of the things I want to do immediately is max out an IRA every year. I had a business English class where the teacher educated us a bit about money management -- it was amazing how fast they can grow.

I really appreciate the help. Interviewing is not a strong point for me so I'm hoping I can knock this one out. Hard to market yourself when you have no experience!

Re: Salary Negotiation:
 

[quote=Daseal;408557]Yeah, I appreciate the help guys -- one of the things I want to do immediately is max out an IRA every year. I had a business English class where the teacher educated us a bit about money management -- it was amazing how fast they can grow.

I really appreciate the help. Interviewing is not a strong point for me so I'm hoping I can knock this one out. Hard to market yourself when you have no experience![/quote]

Good call on the saving money thing. Socking that away early will save you SO MUCH in the long run. It could make the difference between retiring at age 67 or at age 62. Or it could make the difference between having money to travel for a week overseas every year in retirement or not. Or it could make the difference between having the dough for season tickets, or not!

The two smartest financial moves you can make:
- Start saving money TODAY (it's never too late, and definitely never too early)
- STAY OUT OF CREDIT CARD DEBT

Re: Salary Negotiation:
 

Not only that, check out a savings account online that's going to get you at least four percent.

I have one from Emmigrant Direct that's making me 4.5% a month. Compounded daily.

Re: Salary Negotiation:
 

ING direct has great interest rates on savings accounts and they have interest bearing checking accounts as well.

Re: Salary Negotiation:
 

[quote=Daseal;408528]Yeah, to be honest the salary doesn't really concern me that much -- it's answering the question I'm afraid of -- I think I'm going to say 40-50K, thats a broad range and hopefully good. I'll still try to avoid the question if possible, but we'll see![/quote]

Don't do that - you've just told them that you will take $40k, thank you very much. What others are suggesting is to aim in the middle, but make it clear that this is a negotiation, not a firm offer on your part. You do that by saying something like:

"I think, given X and Y, that $ZZ,000 is an appropriate salary. However, I understand that there may be considerations on your side that I am not aware of, and I would be interested to hear what you think would be appropriate given my background."

Re: Salary Negotiation:
 

[quote=Mattyk72;408568]ING direct has great interest rates on savings accounts and they have interest bearing checking accounts as well.[/quote]

They're definitely good. If you look around, you can even find some that'll give you 6%...

Re: Salary Negotiation:
 

[QUOTE=Mattyk72;408534]If you know the approximate salary range, don't be afraid to throw that out there and say something like "based on the research I've done the range for this position appears to be X amount to Y amount (at that point you could ask if they agree with said range), and I'm comfortable discussing a figure in this range".

I would definitely avoid getting pinned down to an exact figure.[/QUOTE]

This really is the best advise you can get. I have seen several people get backed into a corner and now they make less than thier co-workers with the same position as they have.
I would also suggest saying something along the lines of, "well I would expect that I would be compensated along the same lines as others in this position." (assuming you won't be the only one). You say that even though you don't have any experience. If you had experience, you'd say the same thing but add that you expect to be paid what the other experienced employees are getting paid for the same position.
Usually they will let it go, then when it comes hiring time, then negotiations hit full swing. They already want you, so all you have to do is hit thier pre-determined range, and you're set. Most companies have guidelines on salaries arranged by the CEO or board of directors etc. As long as you're within the range, you're golden.

Re: Salary Negotiation:
 

[QUOTE=Schneed10;408561]
The two smartest financial moves you can make:
- Start saving money TODAY (it's never too late, and definitely never too early)
- STAY OUT OF CREDIT CARD DEBT[/QUOTE]

Absolutely true! That's great advice for someone.
It's not just about saving either, it's about saving wisely. Make your money work for you. I know that is cliche, but it's true. Why put your money in a low 1% savings account, when you can put it in an IRA that yields 10-13% annually?
If you don't know how to invest or save, speak with a financial consultant. Edward Jones type people that know how to maximize your money.

About Credit Card debt...that will destroy most families. The debt is almost permanantly stuck to you unless you pay it completely off. It takes like 47 years to pay off at just paying the minimum payment. Best advice is to not buy something unless you have the cash. I know that's tough sometimes, so at the very least, do not borrow on a revolving account (that's a CC type account) borrow on an account that has terms like X amount of monthly payment for 3 or 4 years...like how you woud buy a car. Credit cards may seem better cause of the low monthly payment, but after all is said and done, you've been bent over a barrel.

Re: Salary Negotiation:
 

Ask them what they pay people who hold the same position in the company. Never give a specific number, throw the range at them. Never take the low number unless your really like the job (let them know you're taking the low number because you like the job). If they press you for a specific number say "It depends on the benefits but xxx sounds like a reasonable number." If this is your first interview don't bring up salary discussion, let them do it. You don't really have experience so if I were you I would ask for 52K. Whatever you do don't seem desperate, nobody likes that.

Re: Salary Negotiation:
 

Whatever you do, don't walk in dressed in a velvet sweatsuit, whip out your package and lay it on the table, and proceed to ask how much will they give you to remove said package from the table. I heard that's frowned upon.

Re: Salary Negotiation:
 

Honestly, that's how I got my job.

Re: Salary Negotiation:
 

On a serious note, dress up as much as you can. I'm not saying a tux, but always dress for the job you want, not the job you have.

Re: Salary Negotiation:
 

Yeah a tux might be a bad call especially a baby blue one with ruffles and high water pants.

[IMG]http://www.dumbanddumbercostumes.com/pictures/blue_tuxedo.jpg[/IMG]

Re: Salary Negotiation:
 

[quote=Mattyk72;408598]Whatever you do, don't walk in dressed in a velvet sweatsuit, whip out your package and lay it on the table, and proceed to ask how much will they give you to remove said package from the table. I heard that's frowned upon.[/quote]

lol...

security!!!!

Re: Salary Negotiation:
 

Don't ware your homeless getup....business casual is perfectly fine.

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[quote=Mattyk72;408620]Yeah a tux might be a bad call especially a baby blue one with ruffles and high water pants.[/quote]

[IMG]http://www.rlslog.net/wp-content/uploads/2007/04/129dumber.jpg[/IMG]

You'll be my best man Har!

Re: Salary Negotiation:
 

Figure out what you really want and go about 2- 3 thousand higher. That way there's room for negotiation if it gets to that point. No matter how much you love the job, if you start and find out you make significantly less than your peers, you're going to be miserable in pretty short order. Don't assume that they are going to be all that hesitant to pay a decent salary. I lucked out though with my current position, I had done research and someone in my position in Central PA with my level of experience usuallly makes about 35-45k. I asked for 45 and got 55. I have no idea how that worked out to this day... The point is, don't let it stress you out, these things have a way of working themselves out.

Re: Salary Negotiation:
 

[QUOTE=BleedBurgundy;408632]Figure out what you really want and go about 2- 3 thousand higher. That way there's room for negotiation if it gets to that point. No matter how much you love the job, if you start and find out you make significantly less than your peers, you're going to be miserable in pretty short order. Don't assume that they are going to be all that hesitant to pay a decent salary. I lucked out though with my current position, I had done research and someone in my position in Central PA with my level of experience usuallly makes about 35-45k. [B]I asked for 45 and got 55.[/B] I have no idea how that worked out to this day... The point is, don't let it stress you out, these things have a way of working themselves out.[/QUOTE]

That's pretty incredible. Why on earth would they counter your offer of $45K with $55K?

Re: Salary Negotiation:
 

Was Dan Snyder your boss?

Re: Salary Negotiation:
 

[QUOTE=Sheriff Gonna Getcha;408651]That's pretty incredible. Why on earth would they counter your offer of $45K with $55K?[/QUOTE]

I have no effing clue, but I'd love for someone to tell me. They asked me what I wanted as far as salary was concerned and I told them $45 and asked if that was within the range they expected. They said it was and we went on to discuss other things. When I got the call 2 days later asking if I wanted the job, they told me the compensation would be $55k. I tried to sound "whatever" about it while air humping in front of my wife.

oh, and if this helps, I was told after I was hired that I was nowhere near the most experienced candidate they interviewed but was the most honest and I seemed like the person they would most like to work with. So there you go, tell the truth and don't be a dick.