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Advice on negotiating Salary.

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platinumike

Platinum Member
I'm going to be having a second interview soon with a financial institution. Im a B.S. Finance major, I have loads of work/entrepreneurial experience, but none in my field. My major averages 45k out of school. Im looking to get 46k, especially since i'll have to relocate. Any advice? is that too high?
 
With half a million people a month losing jobs right now, I'm not so sure that there is any negotiating to be had on the salary. Befenfits like vacation acruel maybe, but not on the salary.
 
Originally posted by: vi edit
With half a million people a month losing jobs right now, I'm not so sure that there is any negotiating to be had on the salary. Befenfits like vacation acruel maybe, but not on the salary.
Click to expand...

Nonsense. Employers will still pay a premium for a premium candidate. I'd shoot for 55K plus relocation. Check with salary.com first to make sure you're not too low.
 
Originally posted by: spidey07
Originally posted by: vi edit
With half a million people a month losing jobs right now, I'm not so sure that there is any negotiating to be had on the salary. Befenfits like vacation acruel maybe, but not on the salary.
Click to expand...

Nonsense. Employers will still pay a premium for a premium candidate. I'd shoot for 55K plus relocation. Check with salary.com first to make sure you're not too low.
Click to expand...

I new my post would dredge you up. 😉

And I'm sorry, but not every employer is like that. The last couple places I worked for had ZERO negotiating room. None. You got what you were offered. Didn't like it? Then go someplace else that would pay you that. Maybe some high end management job would have some wiggle room in compensation, but your run of the mill office positions, no way.

A college grad coming into thise economy has very little leverage.
 
Originally posted by: spidey07
Originally posted by: vi edit
With half a million people a month losing jobs right now, I'm not so sure that there is any negotiating to be had on the salary. Befenfits like vacation acruel maybe, but not on the salary.
Click to expand...

Nonsense. Employers will still pay a premium for a premium candidate. I'd shoot for 55K plus relocation. Check with salary.com first to make sure you're not too low.
Click to expand...

Yeah... 10K over the average salary is a good start for negotiation. You're selling yourself short if you ask for less, and you might offend the employer if you ask for more.

It doesn't hurt to ask for another week of vacation as well... employers are usually pretty negotiable with that.
 
Ask for 48k.

They'll counter offer if they think its too high. Its only a few thousand above average, so it shouldn't cause any red flags. If you asked for 80k, then yea, they'd toss your application into the bin.
 
Originally posted by: vi edit
Originally posted by: spidey07
Originally posted by: vi edit
With half a million people a month losing jobs right now, I'm not so sure that there is any negotiating to be had on the salary. Befenfits like vacation acruel maybe, but not on the salary.
Click to expand...

Nonsense. Employers will still pay a premium for a premium candidate. I'd shoot for 55K plus relocation. Check with salary.com first to make sure you're not too low.
Click to expand...

I new my post would dredge you up. 😉

And I'm sorry, but not every employer is like that. The last couple places I worked for had ZERO negotiating room. None. You got what you were offered. Didn't like it? Then go someplace else that would pay you that. Maybe some high end management job would have some wiggle room in compensation, but your run of the mill office positions, no way.

A college grad coming into this economy has very little leverage.
Click to expand...

It depends. If the employer REALLY liked him, he might be in a good position to negotiate a higher salary. Bad economy or no, it doesn't hurt to try.

Besides... if the employer wouldn't be willing to budge at all, I don't think that I'd accept the original offer. If they aren't willing to give you a decent salary to get you to start, imagine how bad they're going to be when it comes to bonuses and raises in the future!
 
Its not like thousands of the crappiest employees are being laid off, everyone is. So no, a college grad should not ask for 55 when the average is 45, especially when he has no exp in the field.

They aren't going to pay him more unless he is a top top candidate, which we don't have enough info to discern here. But there are probably 100 other people equally as qualified who will work for whatever the average is or less right now.
 
I've just worked in positions/employers that have very defined positions/salary structures. The employer is willing to offer you a job at that price because that's what they have budgeted in. Raises are very defined at X amount a year. If you want to make more money you either change positions or change employers.
 
Not to mention how important setting the bar where it should be on your 1st job, it will impact how much you make and what you think your real value is for a very, very long time.
 
Originally posted by: platinumike
I'm going to be having a second interview soon with a financial institution. Im a B.S. Finance major, I have loads of work/entrepreneurial experience, but none in my field. My major averages 45k out of school. Im looking to get 46k, especially since i'll have to relocate. Any advice? is that too high?
Click to expand...

The average for your major means nothing.

What city? What's the position? Experience required for the position?
 
Use the same tactics when buying a car.

- No needless talk. Let them know what you want, and that you want it now
- Don't get suckered into other offers, or future promises.
- If you are not getting what you want, walk out of there. If necessary, multiple times.
- If they call back indicate that you are already talking to other people.
 
Yeah... you should be able to get a salary range from salary.com or glassdoor.com if you put in the job title and location. Glassdoor will even let you check salary ranges by employer, which is kinda cool.

Salary.com seems overly optimistic for my area, but glassdoor.com seems more accurate. ComputerWorld's salary survey is good for IT jobs as well.
 
Demand a million up front and tell them if they do not come through for you that you may end up firing all of them and completely restaffing, its good to let your bosses know that you are actually the boss.

This has not worked for me yet but when it does I will have a million bucks and a good job!
 
Originally posted by: spidey07
Originally posted by: vi edit
With half a million people a month losing jobs right now, I'm not so sure that there is any negotiating to be had on the salary. Befenfits like vacation acruel maybe, but not on the salary.
Click to expand...

Nonsense. Employers will still pay a premium for a premium candidate. I'd shoot for 55K plus relocation. Check with salary.com first to make sure you're not too low.
Click to expand...

Um, you have to factor in the employer's pay philosophy before you can make ridiculous assertions like that. Without knowing the philosophy, it's safer to use your market midpoint for the position, and, in the OP's case, price yourself about 8-10% below that.
 
Originally posted by: ultimatebob
It doesn't hurt to ask for another week of vacation as well... employers are usually pretty negotiable with that.
Click to expand...
The larger the organization and the lower you are on the totem pole means the more likely your are to get 2 weeks to start. No room to talk on that.
 
Without knowing where you're relocating to and what school you're coming out of, it's hard to say. If you're coming out of Podunk State College and moving to a small city in flyover country, it's too much. If you're coming out of an Ivy and moving to Boston or NYC, it's too little. Details?
 
You are right out of school. In your field, there are about 10 people who will take the job in a heart beat. Don't be foolish in this economy.
 
for first job, wouldnt really stress too much abt the salary, esp in the market. once you get in, get a couple years experience, you will have a MUCH better idea of your worth and you can either make a play for it at the current company, or jump to someone that will give you deserve. certain companies also just dont negotiate, try to do some research beforehand. there is no harm in asking for more, just dont put yourself in a position where they may want to look for cheaper options. entry level grads are a dime a dozen.
 
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