"A salary negotiation letter can help you achieve your financial and employment goals."
Writing a salary negotiation letter can set the stage for your financial picture for many years to come. In most cases, these letters are written when a job offer is made but the offered salary is just not what you had expected. It's not uncommon for potential employers to offer a salary that is well below the industry average in order to hire new talent at a saved cost. The hired individual knows that they could make more elsewhere and yet they stay, at least for awhile, happily getting underpaid to gain experience on their resume.
Make no mistake about it. Resume experience is a very positive and potentially life altering agenda. However, chances are that if you set about writing a salary negotiation letter you are quite likely to be given a raise before you even begin working for the company. It still might be less than the industry standards, but any improvement in the final number is valuable.
There are occasions when a salary negotiation letter is appropriate for your current employment situation. While they are generally not used to gain performance or cost of living raises, they can be used as a token to begin a small and often disappointing bidding war. If you have been offered another position with another company for a higher salary, the negotiation letter gives your current employer a chance to match or beat their offered salary (including benefits) if they find your talents and skills valuable enough to hang onto. Most of the time an employer is willing to let you go despite your talents and skill set because they can hire new talent for less than they pay you, especially if you have held the same position for five years or more.
Do not accept any position without taking a little time to consider what the company's compensation package offers and whether or not you can really afford to accept it. Often when we run into underpaid situations like these we are chasing down a dream job or a career that we are just breaking into. 24 hours is usually an appropriate amount of time to consider their offer and it confirms that you are indeed interested in the position. 24 hours is also a reasonable amount of time for a potential employer to wait for your response. Don't leave it open ended and respond as soon as you are clear on your intentions. Once you accept the job at the offered salary you can't show up to your first day of work with a salary negotiation letter. Timing is just as important as presentation on this one.
Never rush your letter. Remember that you are trying to make a firm but pleasant impression on a potential employer. Since these letters are not well advertised and certainly weren't taught to most of us during the letter writing portion of English class in school, you might not have any idea what to say. It is bad form to simply copy and paste a sample salary negotiation letter and fill in the blanks. While there is no doubt that a sample salary negotiation letter will offer you some very important guidance, you still have to write the letter yourself.
There are a few important rules when it comes to writing a salary negotiation letter. Before you even begin make sure you are very well informed when it comes to the industry standards for beginning salaries, the average salary that the company offers to its various employees, and take into account the regional cost of living and overall salaries paid in the geographical area. Once you have educated yourself well, ballpark your intended salary a bit higher, but expect to lose some in the negotiation process.
Many disappointed new hires were looking for a better salary or benefits package and never went about the negotiation process. Many potential employers are actually impressed by the fortitude and the competence that is shown through this avenue. Don't sell yourself short and reach out for help if you need it when composing your letter.
Ask yourself why would anyone want to pay you more money and give you a better benefits package than you were offered? Since you're not looking for a free hand out and are seeking out what you feel your talents and skills are really worth you need to outline your salary negotiation letter with legitimate reasons for negotiating with you. Become the greatest sales person for your own agenda. Your job is to sell your abilities and let your potential employer know what type of investment they are making in you. How are you going to benefit the company's bottom line? How are you going to do it within just a few short days of starting your new job?
Just because a salary is not negotiable, according to your potential employer, there are numerous other aspects that can be addressed in your salary negotiation letter. You can negotiate for longer first year vacation packages, relocation costs, short term probationary period, immediate health and dental coverage, and company paid training and development programs. You can include all of these items in your original letter or you can use them as your bargaining chips if you learn that the salary offered is the only salary approved by the CEO of the company, is non-negotiable, and you still feel you can receive better compensation.
Do not continue to add new thoughts to your letter and do not present another one after you have reached a negotiation the first time. Remember that part of what makes you valuable is demand (for the company and for your individual skills) is your current employment situation. If you are not employed and are desperate for work, your negotiation practice is often a way to lose the job offer. If you are gainfully and basically happily employed or have other head hunters chasing you down for higher paying positions. In most cases, a salary negotiation letter can help you achieve your financial and employment goals, offer the company a great deal on their new hire, and even help you pin point your goals for the first six months to a year, depending on progress. Knowing what you are really worth makes all the difference in the world.
Make no mistake about it. Resume experience is a very positive and potentially life altering agenda. However, chances are that if you set about writing a salary negotiation letter you are quite likely to be given a raise before you even begin working for the company. It still might be less than the industry standards, but any improvement in the final number is valuable.
There are occasions when a salary negotiation letter is appropriate for your current employment situation. While they are generally not used to gain performance or cost of living raises, they can be used as a token to begin a small and often disappointing bidding war. If you have been offered another position with another company for a higher salary, the negotiation letter gives your current employer a chance to match or beat their offered salary (including benefits) if they find your talents and skills valuable enough to hang onto. Most of the time an employer is willing to let you go despite your talents and skill set because they can hire new talent for less than they pay you, especially if you have held the same position for five years or more.
Do not accept any position without taking a little time to consider what the company's compensation package offers and whether or not you can really afford to accept it. Often when we run into underpaid situations like these we are chasing down a dream job or a career that we are just breaking into. 24 hours is usually an appropriate amount of time to consider their offer and it confirms that you are indeed interested in the position. 24 hours is also a reasonable amount of time for a potential employer to wait for your response. Don't leave it open ended and respond as soon as you are clear on your intentions. Once you accept the job at the offered salary you can't show up to your first day of work with a salary negotiation letter. Timing is just as important as presentation on this one.
Never rush your letter. Remember that you are trying to make a firm but pleasant impression on a potential employer. Since these letters are not well advertised and certainly weren't taught to most of us during the letter writing portion of English class in school, you might not have any idea what to say. It is bad form to simply copy and paste a sample salary negotiation letter and fill in the blanks. While there is no doubt that a sample salary negotiation letter will offer you some very important guidance, you still have to write the letter yourself.
There are a few important rules when it comes to writing a salary negotiation letter. Before you even begin make sure you are very well informed when it comes to the industry standards for beginning salaries, the average salary that the company offers to its various employees, and take into account the regional cost of living and overall salaries paid in the geographical area. Once you have educated yourself well, ballpark your intended salary a bit higher, but expect to lose some in the negotiation process.
Many disappointed new hires were looking for a better salary or benefits package and never went about the negotiation process. Many potential employers are actually impressed by the fortitude and the competence that is shown through this avenue. Don't sell yourself short and reach out for help if you need it when composing your letter.
Ask yourself why would anyone want to pay you more money and give you a better benefits package than you were offered? Since you're not looking for a free hand out and are seeking out what you feel your talents and skills are really worth you need to outline your salary negotiation letter with legitimate reasons for negotiating with you. Become the greatest sales person for your own agenda. Your job is to sell your abilities and let your potential employer know what type of investment they are making in you. How are you going to benefit the company's bottom line? How are you going to do it within just a few short days of starting your new job?
Just because a salary is not negotiable, according to your potential employer, there are numerous other aspects that can be addressed in your salary negotiation letter. You can negotiate for longer first year vacation packages, relocation costs, short term probationary period, immediate health and dental coverage, and company paid training and development programs. You can include all of these items in your original letter or you can use them as your bargaining chips if you learn that the salary offered is the only salary approved by the CEO of the company, is non-negotiable, and you still feel you can receive better compensation.
Do not continue to add new thoughts to your letter and do not present another one after you have reached a negotiation the first time. Remember that part of what makes you valuable is demand (for the company and for your individual skills) is your current employment situation. If you are not employed and are desperate for work, your negotiation practice is often a way to lose the job offer. If you are gainfully and basically happily employed or have other head hunters chasing you down for higher paying positions. In most cases, a salary negotiation letter can help you achieve your financial and employment goals, offer the company a great deal on their new hire, and even help you pin point your goals for the first six months to a year, depending on progress. Knowing what you are really worth makes all the difference in the world.
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1 Responses to "How to Write a Salary Negotiation Letter"February 7, 2020 at 8:24 AM
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