Negotiating Salary for a Grad Job
You’ve stumbled upon a grad job opening that takes your interest, but the salary doesn’t quite meet your expectations. As a fresh graduate, you may be wondering if it’s plausible to negotiate higher pay before gaining any professional experience. The short answer? Yes!
However, it’s not as straightforward as simply being upfront with your expectations. Instead, you must use several strategic tactics to ensure your request is taken seriously. Many individuals fear that advocating for higher pay might jeopardise the job offer or come across as too assertive.
Below, we’re going to provide you with a helpful strategy to boost your case and help you achieve your desired salary for a new grad job:
Do your research
Before discussing salary negotiations, undertaking research is essential. It’s not enough to pluck a figure out of thin air; your salary expectations should align with industry standards and compensation for the position you’re pursuing, as well as the geographical location of the role. Check out similar positions on job sites to get a rough average salary, but you may also want to take factors such as transport costs and rent to support your argument. Additionally, consider your qualifications and the breadth of skills you can offer to assess your market value.
Know your worth
Before putting forward your claim, ensure you understand the value that you can bring to the table. Ultimately, it boils down to what distinguishes you from other candidates and why the employer should select you as their new employee. In this regard, emphasise your achievements, experience, and any distinctive skills that position you as an asset to the company.
Think about the whole compensation package
Before finalising your decision regarding the salary, it’s essential to pause and evaluate the comprehensive compensation package offered by the employer. Beyond just the base salary, you’ll discover additional valuable employee benefits, including monetary bonuses, healthcare coverage, and support for childcare expenses. Moreover, some employers provide supplementary perks such as paid time off, flexible work arrangements, or reimbursements for travel expenses.
Be open to compromise
While negotiating, aim to find a compromise that leaves both sides satisfied. While it’s perfectly reasonable to advocate for the salary you want, it’s also important to recognise that the employer might have limitations, due to budget constraints for example. In such situations, it’s important to assess whether the job opportunity is worth pursuing. Take into account factors like growth potential, job responsibilities, and company culture and how many tick your boxes.
If you’re a recent graduate in search of your ideal grad job opportunity, look no further than Inspiring Interns. Our team is dedicated to partnering with you to identify a graduate position that aligns perfectly with your preferences, including your desired salary. With our extensive network of employers, we’re committed to helping you secure a role that fits your career aspirations and compensation requirements.