How To Get The Salary You Want In A Competitive Market

When you find yourself in a competitive market for your profession, it is much easier to obtain the salary you want. If employers are having trouble finding qualified people to fill a position they are much more likely to pay a higher salary and offer greater overall compensation once they do find someone (like you) who is a good fit for their needs.

Determine your market value

Getting the salary you want in a competitive marketplace requires that you understand your market value. Find out what a variety of employers are paying for comparable positions, and especially take note of pay ranges for people with qualifications similar to yours. Take into account the cost of living in the geographic area where the position is located, because this can have a huge impact on competitive salary levels.

Learn about the company

Do your homework on the company you are targeting for a position. Pay attention to their past performance, future goals and any other strategic or operational elements that might be relevant. If you are familiar with what is important to a potential employer and highlight how your skills fit with those priorities, you are a much more attractive candidate and can position yourself to obtain a higher salary.

Know when to negotiate

The time to negotiate salary is NOT during the interview. Some employers will try to get you to indicate what salary you want during an interview, but it is best to avoid answering directly whenever possible. Try to find out what salary range the employer has in mind for a particular position, and if it is comparable to the range you have in mind then it is okay to say so. Do not, though, indicate a specific salary amount - always talk in terms of a salary range.

The best time to negotiate salary is after the employer has decided they want to hire you and before you have accepted the position. This is the period when you have the most negotiating power and can use that strength to your benefit. If the marketplace is particularly competitive for your profession then you are in an excellent position to negotiate.

Be prepared to say no

In a truly competitive marketplace, you can usually be in a position to say no if a salary offer is just not up to the level you want. Most people are very uncomfortable with this option, and rightfully so in some cases where the marketplace is not competitive or personal circumstances make it imperative to find a job.

Just as when you are buying a car, though, during salary negotiations you may decide to just say no. Be absolutely sure you are in a good position to do this before you go down this path, though, because if you say you may turn down an offer you must be prepared to follow through.

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