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Salary Negotiation: What you need to know

Salary Negotiation: What you need to know

Land the perfect job, with the salary to match.

The perfect job may not be so perfect if you’re not landing in the right compensation range. The FreightCareers team covers common salary negotiation mistakes, useful tips and in-depth knowledge of negotiating a salary.

The FreightCareers team has interviewed the FreightWaves Human Resources Department to provide quick hits on the most important do’s and don’ts of salary negotiation.

What are the top mistakes you see when candidates discuss compensation?

  • Putting ''open for negotiation"' or vague expectations
  • A salary range that is not within the market range of the candidate’s experience, education and/or skills

State the lowest amount you can make as X amount. State what you want, not the minimum you would take.

 

What are a few tips you would give someone who is negotiating for the first time?

  • Quantify your achievements and show the value that you have created in other roles.
  • Consider all the benefits and perks that the company offers.

Your salary reflects the true value of the quality and quantity of your work. Consider additional company benefits as additional compensation for your value as an employee; not all companies offer the same benefits.

 

What is the behind-the-scenes process to determine the first offer?

  • Experience evaluation
  • Relative market/ location range
  • Salary expectations

And then the review if someone does present a counter-offer?

  • Department budget
  • Market they live in

A counter-offer doesn’t necessarily mean the hiring company finds less value in your abilities. For example, if you are working remotely or relocating to a new market, it would serve you well to dive into the salary range of your role in that market so you can have a more competitive and realistic offer for that area.

 

Is the process different when working directly with the company rather than a recruiter?

Yes, the processes do differ when working with a recruiter rather than directly with a company!

  • When working with a recruiter, he/she can get your resume in front of many businesses at one time. Some recruiters have a good relationship with hiring managers and can help with interview prep and feedback from the company.
  • When applying directly through a company, you can decide exactly which position you are going to apply for. You will be able to go through the company's formal recruitment and hiring process.

Remember, whether you’re applying for your current position at a new company, a new role to accompany new skillsets or a role in a new market, you need to research the appropriate salary range. Be honest about your abilities; if you are advanced but not an expert in your field, you can aim high but do keep your expectations attainable while also considering the additional benefits unique to the individual companies you are interested in.

Happy job hunting!