· In the course of the educational system, most people who start looking for jobs find that they don't know how to get what they need out of a job. Negotiating the perfect Compensation Package requires some planning and with the right strategy can improve your outlook on your work - working while secretly resenting your salary is no way to work at all.
Know what you are worth. Using internet resources, do research on the salary and compensation ranges for comparable jobs in the area. Glean information during interviews and from your network of sources that indicates the relative value of the position in the company.
Set a clear goal. Studies on negotiation consistently show that people who set clear and aggressive goals achieve more favorable settlements than those who aim low or do not set goals at all. If you want a salary of eighty grand and a total package worth 100 grand, shoot for it by throwing out an anchor worth more than 100 grand.
· Set a walk-away price. You know your own financial goals, responsibilities and liabilities. If you cannot take anything under seventy grand and still make sense of accepting the position, do not pretend that you can. Your walk-away price depends not only on your financial needs, but also on the attractiveness of your alternatives to accepting the offered position. If you are currently making sixty grand and there are no other offers finding you, settling at sixty-eight grand might not be a bad idea. If, on the other hand, you have been offered a position for seventy-five grand and a generous benefit package, sixty-eight grand seems less reasonable.
· Identify all your interests. Before you walk into the negotiation, prioritize your various interests and identify places where you are willing to trade one thing of value for something else. Is the salary more important than stock options? Is a gym membership more important than a review and likely promotion in six months?
Remember: Negotiating is not about winning, it is a dance towards a certain goal. Each person makes moves with reference to the moves of the other person. Don’t take make it personal, approach it strategically like any business decisions.
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