Finance | January 19, 2017 5:00 am

How to Negotiate a Higher Salary

Businessmen shaking hands (Getty Images)
Businessmen shaking hands (Getty Images)
Businessmen shaking hands (Getty Images)
(Getty Images)


Congratulations: You got the job offer. Now you and your future employer just need to figure out a starting salary, shake hands, and you’ll be all set. But as Donzell Lampkins points out in a recent column for LinkedIn, this isn’t a final step to be taken lightly.

Lampkins, a recent graduate from the University of Illinois, offers many good tips for making sure you secure the right salary when you start a job. Here are some guiding principles to keep in mind when you’re trying to negotiate a higher salary at a new job. Follow these tips and you won’t get low-balled.


1. Don’t Disclose Your Previous Salary

If your previous salary or hourly rate was relatively low, the initial offer you get from your future employer might be negatively impacted. This is why you should only disclose your previous salary if it was higher than what you’re initially being offered, and you’re using it to make a point.


2. Do Some Research

Sites like Glassdoor and the U.S. Bureau of Labor Statistics can give you an idea of the average salary for your position or occupation. Glassdoor posts the salaries and reviews of previous employees. And the U.S. Bureau of Labor Statistics posts the national average salary as well as the local average.


3. Factor in Benefits

Whether or not benefits are included in your salary can make a huge difference. So you should definitely factor them in (and push your future employer to make them available, if they’re not included in the initial offer). If health insurance isn’t included, that alone might give you pause about taking a position. It should also motivate you to ask for more money. Because health insurance can run you $600 per month or more.


4. Use Your Credentials

Do you have the specific credentials that an employer is looking for, in an ideal situation? If you do, then this would be a good reason to ask for more money. And remember: There’s no better time than the initial job-offer stage to negotiate a hire salary.

To read more about how to negotiate for the right salary, go here.