Timing is extremely important. You simply cannot be the first one to ask about salary during an interview.  If you are pressed to name a salary during the interview, give a vague answer such as "My salary expectations are based upon the position.  Could you please tell me more about the position?" If a potential employer asks how much you make in your current position, honestly answer with a total compensation figure that includes your salary, benefits and incentives.

The only appropriate time to negotiate is after a formal offer has been made. If the offer meets your expectations, then it is best to accept it. It's inappropriate to negotiate just because you can, and it is likely to create ill-will with your new manager. 

Do Your Homework

Find out what others in your position make. Consult online salary calculators, check with professional associations, or contact your Career Services expert.  We are happy to share our market and salary expertise with you free of charge. 

Prepare, Prepare

If you want to be considered for a raise, schedule an appointment with your employer to discuss what you would like to see in your next raise.  Always ask your boss for suggestions on how to achieve your expectations.

Know Your Value

Do you have a history of saving your company money?  Improving processes or bottom-line performance?  Prior to determining your value, research the exact figures of the value you have added to your former employers.  Reasonable estimates suggest that you could ask for 5-10% of that figure to be added to your compensation. 

In your negotiation, suggest that the company base your compensation on measurable bottom-line results. Be prepared to justify your contributions towards the companyÍs overall growth or success.  The key is to present measurable data regarding your value to the company.

Manage Your Salary Expectations

Having an advanced education to offer is often overlooked when compared to real-world work experience.  While your degree may keep you on the short-list, it won't warrant you to a higher salary.

Your degree is not all that you have to offer the employer. Significant work experience will often carry more weight than a degree alone. Employers value previous job performance more than job-performance potential, and salaries are usually higher when there is experience than when there is none. 

Don't Be Afraid to Sell Yourself

Only you know your greatest accomplishments.  Don't miss the opportunity to bring your achievements to your employer's attention.  No one else will do this for you, so you must be willing to go to bat for yourself.  Don't count on your boss to simply suggest you ought to earn more money or to notice you haven't had a raise in 10 years. You need to be willing to brag about yourself.

Consider Total Package - Not Salary Alone

Money is not the only component to a compensation package. It's true that other parts of the package may be negotiable.  For example, relocation expenses, flex-time or unpaid leave, signing bonuses and salary review schedules are negotiable. 

When making your decision, it is important to consider the total compensation package.  The company may offer other benefits such as a company-matching retirement program, bonus program, or well-funded health insurance program - all have substantial dollar value.

Don't Underestimate the Value of Your Happiness

If you are happy in your current job and the only thing that is lacking is more money, it may not be time to leave.  This requires serious consideration as the aspects you enjoy about your current job may not exist in a position that offers more money.