Salary Negotiation 

Depending on the type of position you are applying for, the chances are that salary and other compensation won't be covered in depth before the final interview.

There are exceptions to this of course, for example, many unskilled positions come with a fixed or minimum wage and there's not much you can do about that.

Also, some companies have fixed compensation packages or pay scales and will have identified these in their recruitment advertisements.

But in general, it is possible to negotiate better terms for yourself, if you are certain that the employer doesn't have a better option or a very good second choice candidate for the role.

You need to understand that by the time a company has conducted a number of interviews and has got to the position of wanting to offer you the job, they have already invested a considerable amount of time and money in you, just to get to offer stage.

They won't want to let you go and hopefully, will be doing everything in their power to secure your services.

Be aware that some companies, if using a recruitment agency, will discuss compensation with your agent rather than with you directly, leaving it to the agent to negotiate the final package.

In this case, simply use these tips on your agent - though remember, a good recruiter will have discussed and qualified your compensation requirements right at the start of the process, so don't be too greedy, just aim for the top of the range you originally quoted.

Whilst the thought of negotiation makes some people squirm, other find it enjoyable and get quite an adrenaline rush from it.

If you stick by these guidelines, you should be ok.

Understand Your Value

Yes, you have a value and you can bet that your prospective employer knows this too. First of all, if you are already in employment, your negotiation position is very strong. Even in a recession.

This is because the employer will have to make an offer that is both able to tempt you away from your current job and avoid a buy-back from your current employer, something that many companies don't seem to understand.

Buy-backs are the most common reason that companies fail to recruit. They make their offer on the low side and then when the candidate comes to resign, their existing employer makes a counter offer and the candidate stays put.

A good company will want to avoid this - so remember it, because potentially, it's your strongest weapon.

Before going into the final interview, take a look at some of the job boards advertising similar positions. Look at the salary ranges quoted so you can get a feel for what other companies are paying, even if they are in different parts of the country. (Though you should take into account that some areas command higher prices, particularly big cities).

Set An Income Goal

Aim high, at least initially. It's always easier to negotiate downwards than it is upwards, so right at the start, explain what you require as a total package.

You should analyse your own requirements in terms of what your current package is worth taking into account things like car, pension, insurances, relocations etc.

Remember to consider your daily commute. How easy is it? Is it farther away from home than your current job? What will this mean in rush hour on a stormy winter's night?

All of these things add up.

Aim for an improvement factor of around 10% but of course, shooting for a 20% improvement isn't out of the question and might result in achieving 15%.

Set Your Walk-Away Price

You know your circumstances better than your interviewer. A good recruiter will already have discussed this with you and will know your motivations and your financial requirements to the point where they already know your minimum price.

However, many are not that great at determining this and that's another big reason why many companies fail to get the people they want.

The best way to determine what your minimum price is, is to do an income and expenditure calculation that includes everything you spend on a monthly basis. And I mean everything.

This will tell you what you need to continue with your current lifestyle (or even one you wish to attain).

It gives you your bare minimum figure.

Next look at what you think you can reasonably expect to achieve. You know that if you go into an interview situation with a current salary of 30K, you're unlikely to be coming out with 60K, so you have to be realistic.

Remember to take into account your total package and not just the salary. Sometimes, a job that reduces the daily commute by 45 minutes each way is more attractive than a higher paying position with a long commute. Time is money.

Be Fair And Reasonable

Negotiation is a two way street. Your potential employer has to work within certain constraints, especially if they employ large numbers of people.

You can't expect to walk into a job and be getting 20% more than the rest of the people on similar grades, as that would cause unrest and bad feeling.

Similarly, it would be most unfair of an employer to take advantage of somebody's position and expect to pay them 20% less than everybody else.

In the interview situation, use words like fair, reasonable and honest. They go down well when the employer hears them and human nature makes most people want to reciprocate.

If you have a great reason why you should be paid more, explain it.

Bear in mind that having a mountain of debts to repay and a greedy ex-partner who's screwing you for everything you earn, is not a great reason! Your personal circumstances is not your employers problem.

Consider Everything

As mentioned previously, negotiation is not just about money. You need to discuss training and what's available to you. You will want to discuss potential for advancement. How long has your line manager been in his or her job?

Is there flexible working? Are there other benefits? What about stock options? What are all of these really worth to you?

Of course, when discussing these things, you need to know whether your interviewer actually has the authority to sign them off. Often, line managers don't have much authority and they leave it to a senior member of the HR team to negotiate.

Negotiation is about discussion so remember not to be overly aggressive. You should quietly but confidently state your position. If you're asked what package you want, state it clearly.

Conclusion

Without knowing individual circumstances, it's not possible to guide you through the entire negotiation process.

However, no interviewer and no candidate really wants or needs to be made feel uncomfortable during an interview.

So, the key is to remain friendly and as laid back as you can be. Make your interviewer like you and you're more than half way there.

All you have to do, is convince them that they need your particular skill set and you should be able to get the package that's right for you.

If not, you can always say no.