How much to ask for
Remember, your total compensation isn’t just your annual salary. It also includes things like health care benefits, paid time off, transportation perks, bonuses and more. When it comes to negotiating, doing research to get an idea of what a typical offer is for similar job positions can help ensure your counteroffer is within reason.
Glassdoor allows you to see self-reported salaries from current and former employees at specific companies. Also, Payscale will evaluate your offer letter and compare it to industry and area statistics. Both of these resources can provide data to strengthen your negotiation.
With most online tools, salary information will be reported as a range. For most entry-level positions, the lower start of the range will be the most appropriate pay bracket. If the salary offered is within the low range for similar positions, consider an initial counteroffer 10-20% higher, and if the salary offered is within the average range, consider a counteroffer 5-7% higher.
In addition to compensation data, you should research the cost of living for the area you’ll be working in. When you get an offer, you will want to make sure it’s enough to pay for food, rent, transportation and bills. Ideally, you’ll also have enough for savings, fun and any other expenses you have.NerdWallet and Best Places can help you compare two cities and how much you’ll need to earn to meet the cost of living.
