Whether you’re just getting out of college or you’ve been working in sales for a few years already, getting a job offer is always an exciting time. However, to make sure you’re getting paid what you’re worth, you need to know how to negotiate salary.
Yes, negotiating your salary can be scary. But it’s an important step to take when accepting a job offer, especially because negotiating salary can lead to an increase of 7.4% from their initial offer.
To help ease the fear, we’ve put together our 6 top tips on how to negotiate salary so you start your next sales job off on the right foot.
1. Do Market Research
The first thing you want to do is conduct some market research so that you have a good idea of what people in similar roles are making in your area. By starting off with a competitive figure in your head, you have a much stronger footing when you begin your negotiation.
In order to understand what kind of salary you should ask for, take a look at a few salary information websites to get an idea of your position’s average income.
A few to consider are:
With these tools, you’re able to research jobs with the same title as the one you’re applying for or positions that are on the same experience level (i.e., entry-level versus manager versus director).
SalaryExpert in particular does a great job at including cost of living into their data since someone living in Chicago isn’t going to have the same rent costs as someone living in a small town in Texas.
Doing your research so that you understand what a competitive wage is for your role and in your area is the perfect stepping stone into your negotiation after getting that job offer to ensure you find a high-paying job.
You’ll want to start with that figure in your head, then consider your own experience and the value you’ve brought companies in the past. If you’ve helped businesses achieve record-breaking sales, you have proven results that give you a bit more of an edge when it comes to negotiating.
2. Talk About Your Value
While the market’s going rate is going to be an essential part of your argument when negotiating your salary, you also need to talk about the value you offer to the company and why you’re worth the figure you’re asking for.
When you’re just starting out, you have a lot less to leverage here, but a seasoned salesperson can showcase numbers and data from their past positions and the revenue they’ve generated for companies that can help prove why they’re worth a higher number.
You don’t want to go into a salary negotiation empty-handed. Talk about the work you’ve done in the past and why your future employer should pay you what you’re asking for.
Remaining confident is key here. If you’re nervously spouting your achievements, it’s not going to sound nearly as convincing as someone who is a pro at selling themselves during an interview and a salary negotiation.
3. Give a Range Higher Than What You Want
There’s conflicting advice out there about providing salary ranges to potential employers – some say give a specific number, like 87,500, while others say providing a wide $20,000 range is a best practice.
Our tip is to share a $5-10,000 range, but make sure the bottom number is equal to or just above what you’d actually hope to make. Worst case scenario, your employer offers you something at the bottom of your range, but when you choose a range above what you want, you’ll be happy with any number they choose!
At the end of the day, ensuring you’re satisfied with your salary and are getting paid what you’re worth is the most important part of accepting a job offer.
4. Discuss Other Perks and Forms of Compensation
Let’s say you’re at an impasse when it comes to negotiating your salary. You’ve found a position with a company that you’d love to work with, but they simply can’t match your salary request (at least not yet).
While you might end up having to say no to their job offer, there are other perks and forms of compensation you might be able to negotiate as well.
First, salespeople are often paid commission on top of their salary. Negotiating your commission can be a great way to ensure you still have additional income necessary to meet your goals and get to the figure you’re wanting to earn.
There are other forms of perks and benefits that you might consider asking about that could help improve your work/life balance, help you feel more satisfied at work, or make the company culture more enjoyable.
Consider asking about health insurance. Is that offered? Does the company cover a percentage of the monthly premium? Having a lower insurance payment puts more money in your pocket the same way a higher salary would.
How about vacation? How many days paid vacation do you get? Does the company offer unlimited vacation? Having flexibility to go on trips or even work remotely can sometimes be worth a lower salary.
Another big one to consider is retirement savings plans. Is a 401K or IRA available? Is there a company match? This can be a great option in place of a higher salary because it helps ensure you’re saving for the future.
Be sure to cover all of your preferred perks and benefits with your potential employer to see if there’s anything that you can compromise on in lieu of your ideal salary.
5. Be Polite Throughout the Process
Negotiating your salary can be a daunting process and a sensitive subject to approach, which is why you want to remain polite and humble throughout the conversation.
Don’t act entitled. Don’t point fingers or be rude at any point if the company isn’t willing to give you what you’re looking for. And definitely don’t be pushy.
Stay positive and go in with confidence. Understand your worth and make sure that’s portrayed in your (very civil) argument.
But also, be prepared to walk away if you simply can’t agree on a figure. Not every job or company you apply for is going to work out, and it’s important to know when to throw in the towel.
If, in the end, you’re unable to find a satisfactory figure, including commission and benefits, be sure to still remain polite and thank the interviewer or hiring manager for their time and apologize that you weren’t able to come to an agreement.
It’s okay to turn down a job offer if it simply won’t be a good fit or you won’t be bringing in the salary you need to make to be happy in a role. Just do so gracefully so you don’t burn any bridges.
6. Work With a Sales Recruitment Firm
When you work with a sales recruitment firm, the story is completely different. A company is on the hunt for somebody that will fulfill their sales needs, and you’ve been contacted because you might be that person.
A recruiter will make sure you get the compensation you want while the company gets the sales professional they need. For that reason, working with a recruiter is already a great start.
They’re going to work with you and the company to ensure you get your best offer. For that reason, you shouldn’t fear telling your sales headhunter what your salary requirements are. That way, you’ll know right away whether your requirements can be met without having to go through the entire interview process.
At Sales Recruiters Chicago, our sales recruiters know how to negotiate salary, and they’ll give you top tips to get what you deserve and can even negotiate for you to show the hiring company how good of a salesperson you are and how much value you’ll bring to the company.
To get started, simply submit your resume and one of our recruiters will be in touch to learn more about your experience and what you’re looking for in your next role.
Additionally, you can take a look at our job openings to see if anything catches your eye that you’d like to apply for. Our team is happy to help you put together a stellar resume, ace your job interview, and negotiate the salary that you deserve.
Let Sales Recruiters Chicago Help You
Discover how Sales Recruiters Chicago can help sales candidates like you find their dream job – and their dream salary. Send us your resume so we can get the conversation rolling and find the perfect fit for you.
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