Getting your first job offer is exciting — joining the full-time workforce can mean a salary, benefits, and a path to financial independence. But before jumping to accept an offer, it’s important to assess what exactly the company is promising you and negotiate your salary.
Most people hate negotiating (who can blame them) and don’t do it. More than half (56%) of workers don’t negotiate when given a job offer, according to CareerBuilder.
But here’s a news flash: Most employers will negotiate — even for entry-level employees. More than half (53%) of employers said they would be willing to negotiate first-time salaries, according to CareerBuilder. It’s actually built into their strategy: Most employers will offer a lower salary to start, leaving room for negotiations. So, by not negotiating, you could be leaving money on the table!
And the payoffs from those negotiations can be huge – in some cases, 11-20% higher, according to Jobvite’s Job Seeker Nation Study.
So, let’s say you get offered a starting salary of $40,000 — 11% of that is $4,400! And that’s PER YEAR. So, if you stay at that job for 2 years, you would’ve made an extra $8,800. Three years — that’s $13,200. Plus, if in a few years you go for a promotion, you’re negotiating that salary from a higher rung on the salary ladder. And, as you move up, you’ll keep earning more than you would have if you settled for the first offer each time. That means paying off student loans…
