How to Negotiate a Salary When You Have No Work Experience
Negotiating your very first paycheck pays off over the course of your career. But asking for more money when you’re just starting out can be daunting. Here’s how to negotiate a salary if you don’t have formal work experience.
It is very important to negotiate your salary. Start a job with a low pay and, of course, you will be able to move up over time. But you will only move based on this small initial amount. A higher salary agreement pays off not only in the present, but also in the long term. Anything you agree on in the future will use this higher amount as a guideline.
Think like an employer
Thomas Frank is the founder of College Info Geek . He says the key to any negotiation is considering what the other person wants.
It’s so easy to think about the pay raise you want, but when it comes to actually negotiating, it doesn’t matter. What matters is whether the decision maker (your boss) is willing to trade what you want in order to get what they want.
Therefore, it is important to view the negotiations from his or her point of view. Frank adds that this is especially important when you are lacking in experience. Without proven track record of your abilities, you will have to work harder to show the potential employer that you can be of value.
What the employer wants
As someone who has hired people for his own business, Frank reveals several questions that an employer asks himself when hiring someone:
- Does this person have the skills and experience to get the job done? If not, can they quickly learn it?
- Will their products be of the same quality that I could make myself or that someone else could make with the same payment? Could it be better?
- Will this person really care about my company / product or does he just need a salary?
- Will I be constantly pestered by questions or will this person be able to find a solution on their own?
- How long will this person stay? Am I going to spend money on training them to see them go away soon?
- Will I be happier overall with this person on my team? Will I be able to work with them every day? How will my clients / other employees feel about this person? Will this person be part of the culture?
He then breaks these questions down into eight main factors:
- Skills and abilities
- Experience
- Learning ability / adaptability
- Quality of work
- Passion / Interest
- Autonomy
- Loyalty
- Social skills and fitness
Based on this information, Frank notes that technical skills and past experience are actually just two of the main factors an employer looks for in an employee. To make up for your lack of experience, focus on improving your abilities in other areas.
Do your research
Research is an important part of any person ‘s salary negotiation . But if you lack experience, you will especially want to gain knowledge. Here’s what you need to know to get ready to negotiate.
Salary Range : Of course, you need to know what salary to ask for in your potential job market. Sites like Glassdoor or Salary.com can help with this. And the National Association of Colleges and Employers also offers a free wage calculator to help you determine your wage benchmark. Clark University states that your employer can probably allocate 15-20 percent more than they initially offer. Obviously this is a generalization and companies will be different. You will need to figure out a quantity that you are comfortable with, but research will help.
Company History : Texas A&M Career Services encourages the collection of company information. “Find out what the company is doing, its financial position, its status in the business community, and the latest information on its successes and failures.”
Employer : Frank suggests that you also get to know the employer as part of your research.
I mentioned social skills and cultural relevance as two important factors – to make a good impression in these categories, you can scan my tweets or ask my colleagues what my interests are. It doesn’t hurt to pre-read How to Win Friends and Influence People — it will confirm the fact that I like you better if you take an interest in me and what I’m passionate about.
In general, the more you know, the more job opportunities you have. For example, knowing a company’s past failures can help you understand where to focus your value for that company.
Focus on skills
iGrad.com reminds us that in the end, skills should take precedence over experience . An employer is not just a list of places you have worked, he wants to know that you have the necessary skills to work. Focus your conversation on these skills:
… explain why your skillset deserves the pay you’re asking, according to Caroline Senise-Levin, career expert, writer, speaker and co-founder of SixFigureStart . “Share market data that shows how much people with this skill are making. Show how this skill will affect the company’s bottom line. Focus on what you can do from now on rather than years of experience. Keep discussion a focus of skill, not experience, to maximize your negotiations. “
You may have acquired these skills during your internship, college, or part-time job. Either way, try to continue talking about your skills and how you honed them.
Suggest a game plan
If you really want to stand out, you might consider bringing a game plan into the negotiations. Frank suggests:
Maybe you could ask someone who works in your target company department for coffee before your interview; ask them what they do on a daily basis and what they think can be improved in the department. Explore some ideas for improvement – you will show that you are passionate enough about the company to put in the effort before you even get hired. It’s tricky, which is why most people don’t. More options for you.
At AfterCollege, career coach Teresa Torres offers a similar suggestion:
Act as if you already have a job. What would you do in the first month? I can’t say for sure? Ask people with similar roles. Do your research. Then prepare for your interview and describe what you will be doing in the first few weeks. Introduce this as one of the possible options, since of course you will want to get the hiring manager’s opinion on what you should be doing.
You want to prove that you understand the responsibilities and role of your potential job. You know the day-to-day work you do on it, the long-term goals associated with it, and you have the opportunity to take it all.
Learn Some Negotiation Techniques
Not everyone agrees on some of the most basic negotiation techniques. For some methods, you will need to study the pros and cons of each and decide which one is best for you.
For example, in a post on the topic , money writer J.D. Roth suggests waiting until the employer first mentions money. Thus, do not mention the expected salary until they tell you the real figure. “If you do this, you will provide an anchor for negotiations, and it can only hurt you,” he says.
But for some, this method may not work. Our own Alan Henry writes :
The paycheck game doesn’t work for everyone, and more and more employers are realizing that candidates want to know how much they are willing to pay before reporting how much they earn. They will insist on at least knowing how much you are making now, and many will even call your current or previous employer to see if you are being truthful.
We also offered a portfolio technique . In a weekly Q&A video, author Ramit Sethi explained how it works:
So the client says, “You know, I’m really just curious. What’s your price here? And at that moment you say, “Oh, actually, before we get to this, let me just show you what I have gathered.” And you literally pull out a 1-, 2-, 3-, 5-page proposal document from your portfolio. And this proposal … is actually about … things that you found in their business that you could improve, and how exactly you would do it.
It’s like developing a game plan. But by raising this question at the beginning of the conversation about money, you can prepare the discussion by impressing them with your exploration and foresight.
Think beyond your salary
If you don’t get the salary you want, hell even if you get the salary you want, there are several other valuable factors to consider in your job offer .
iGrad writes :
Lames also encourages candidates to seek other concessions, such as better title, flexibility, work-from-home option, extra day off or vacation days, earlier performance appraisal date, performance-based bonuses, co-pay benefits, or 401 (l) contributions.
You can also use these factors to adjust your negotiation. For example, you can ask for a higher salary instead of benefits for the first six months, igrad suggests. It’s not a bad idea, considering that six months from now, the payouts are likely to be the same, but your starting salary will make a huge difference in the future.
Many recent graduates feel lucky enough to simply find work and not bother negotiating wages. But you can be grateful for the job and negotiate an income that matches your value in the workplace. This is actually very important. It will not only serve as a guide for future wage increases; it’s also a good introduction to what it means to be part of the working world.