Where to begin...
As a graduate you may have a careers library at University where you can source advice on interviews, but negotiation skills fall largely into the experience-only category. By understanding the process of negotiation a little more you can build your confidence in this area and develop your approach.
The first step is to build a framework upon which to negotiate a salary. You should find out what the market salary range for this type of position is in this particular field; what the lowest salary you will consider is; and what skills you possess that make you worth a higher salary. Start your research by noting salaries down from similar job listings in your geographical area. Most trade publications have recruitment sections at the back of each issue - either direct from companies or positions through recruitment agencies.
Talk to a recruitment consultant as well; they offer advice not only on what positions are available to you, but also the level of salary/rate you can expect. Contact professional bodies or look at their web sites. There are often free salary surveys available on their web sites.
The next step is to prepare a budget to determine your financial needs. Decide before you go into an interview what salary you would like to earn, what you need to live on, and what you are willing to settle for. Then with a well-constructed CV (there are guides/tutorials available on the internet to help you do this) you have the correct tools to tackle the job hunt. At this level it is important to stress relevant work experience, as this will without doubt increase any bargaining power at the negotiation stage.
Testing the water...
Salary negotiations for graduates are actually reasonably rare, as most positions will be advertised with a specified rate, but you may be asked during the interview what salary you are looking for. Do not bring up the subject of salary before the employer does. One of the most effective ways to kill your financial future is by being both unprepared and unrealistic about your future salary. If you have done your research you will have much more awareness of the market and therefore some negotiating room.
At this point in your career, you should nearly always emphasise that your primary concern at this time is professional development. And relax - it’s natural to feel embarrassed or uncomfortable when discussing salary. If you are interviewing for a job through an agency they will advise you to respond that your consultant is the person who negotiates your rate, and re-direct the question to your agency.
Am I entitled to any benefits?
Once the base salary has been finalised, but before accepting the job, ask about any benefits you might be entitled to. In today’s graduate job market many employee benefits are considered standard - they come with the job and are not subject to negotiation. It is sometimes possible to discuss additional benefits as part of your complete package, but don’t be too tough - you don’t want to come across as inflexible or uncooperative and alienate your future employer.
Consider your own needs but take into account the employer’s constraints. It can often be worthwhile accepting a lower starting salary to be with a company that has good progression opportunities where you can learn and grow over the long-term.
If you feel that it is appropriate you can negotiate alternative benefits that can offset a lower starting salary - so be creative. Request to be reviewed in three to six months instead of a year, and ask for a salary increase then. There are areas where a company is often able to be more flexible, such as investment in professional development - both you and the company will benefit from this.
If you receive an offer and you’re interested, let the employer know you are, and that you’ll get back to them in 24 hours. This is generally accepted as the minimum time allowance to think about any other questions you may have, or you may need to request longer if you have other appointments. Respond in writing in an email or letter within two days of your interview to say how much you enjoyed the opportunity and express your continued interest in the post. This leaves a positive and professional impression.
