Salary negotiation can be one of the most stressful parts of getting a new job. On the one hand, it is exciting to think about a new job and the possibility of earning more money. On the other hand, it can be nerve-wracking waiting to hear what your new salary will be.
- Do you accept the salary offer, negotiate it or reject it?
- What if you make a mistake and accept a salary offer that is too low, or try to negotiate one that is too high?
These events are unlikely to happen if you do your homework before you get to the salary negotiation stage.
A salary calculator can help you with this important homework. It can give you an idea how much your current salary is worth in another city. It can also give you median, low and high end salaries for given positions and industries in a geographical location.
Some salary calculators allow you to compare the cost of living between two cities. You can compare the cost of living between the city you are in and the city where you have a job offer, or the cost of living between two cities where you have job offers. These calculators aid you in thinking practically about moving for a new job. Remember to factor in whether your new employer will pay relocation costs. If the employer does pay relocation costs, find out what the cap is on those costs. If you go over the cap amount, say, by hiring movers to move your grand piano, you may end up paying the extra costs.
You are more likely to get the salary you want if you go into a salary negotiation meeting with facts based on the information you gathered from salary calculators and other job search resources. This information backs up your work experience and your education. You put a great deal of energy into both, so make sure you get what you are truly worth.
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