Current:Home > NewsHow do I show my worth and negotiate the best starting salary? Ask HR -Golden Horizon Investments
How do I show my worth and negotiate the best starting salary? Ask HR
View
Date:2025-04-19 16:25:05
Johnny C. Taylor Jr. tackles your human resources questions as part of a series for USA TODAY. Taylor is president and CEO of the Society for Human Resource Management, the world's largest HR professional society and author of "Reset: A Leader’s Guide to Work in an Age of Upheaval.”
Have a question? Submit it here.
Question: I’ve been successful in job hunting, but I’ve always struggled to negotiate salary. I always feel ill-equipped to justify higher starting pay. How can I best negotiate a starting salary? – Carleton
First of all, most people would agree with you: Salary negotiation can be daunting. But with the right approach, you can increase your chances of securing the best possible compensation package. Here are some key things to keep in mind:
◾ Know the market. Use online tools and resources to research salary ranges for similar positions, particularly in your geographic area. Gather information about industry trends, as well as the company’s financial health and compensation practices.
◾ Understand your value. Identify the unique skills, qualifications, and accomplishments that will make you an asset to the company. Highlight specific examples of your contributions and their positive impact on previous employers.
◾ Consider the total compensation package. Evaluate the company’s benefits offerings, including health insurance, paid time off, flexible work arrangements, retirement plans, and other perks. Evaluate the potential for career advancement, professional development, and bonuses.
◾ Prepare your negotiation points. Develop a strong case for your desired salary, emphasizing your skills, experience, and the value you’ll bring to the company. Be prepared to negotiate other aspects of the compensation package, such as signing bonuses, incentives, or additional benefits.
◾ Build confidence. Practice your negotiation points with a friend or mentor. Approach the negotiation confidently and assertively while always remaining humble, respectful and collaborative.
Also – and I can’t stress this enough – it’s critical to approach your compensation discussion with humility. Too often, candidates go into the process with hubris and even arrogance, and while they may be negotiating with what they consider to be facts, they end up turning off the manager. An overinflated sense of value can embolden a new hire to talk themself out of a good job offer. I’ve seen it happen more than once.
It’s also important to keep in mind that the job market is slowing right now to the point where we’re looking at more of a buyer’s market than a seller’s market. So, when negotiating compensation, be cautious, know your value – in context – and have a firm understanding of the relative health of the overall labor market.
And finally, don’t base the value of the position solely on the compensation package. Take into account what opportunities it presents. How will it impact your career trajectory? What kind of professional development opportunities does the organization offer? Are you willing to trade a measure of compensation for an experience that benefits you down the road? A new job can often be a bridge to an even better opportunity in the future.
Temporary workWhat are the pros and cons of temporary jobs? Ask HR
If an employee’s spouse already has health insurance coverage, can the employer request the employee be on the spouse’s insurance rather than the employer’s coverage? – Sage
The short answer is: It depends. While some employers may encourage employees to use their spouse’s health insurance coverage, they cannot legally require it. The Affordable Care Act mandates that employers with 50 or more employees offer affordable health insurance to their employees and dependents.
Here are some common ways employers encourage employees to use their spouse’s coverage:
◾ Spousal surcharges: Some employers impose a fee on employees who enroll in the company’s health plan if their spouse is eligible for coverage through their own employer.
◾ Secondary coverage: Other employers allow spouses to enroll in the company’s plan as secondary coverage, meaning they must also be enrolled in their employer's plan.
◾ Educational campaigns: Employers may provide information and resources to help employees understand their health insurance options and make informed decisions.
It’s also important to note how state laws can vary. Some states have regulations limiting the amount of a spousal surcharge or prohibit certain practices related to health insurance coverage, such as gender discrimination in premiums.
I’ll add this: Before implementing any cost-saving measures, employers should consult with legal counsel and their state insurance commissioner to ensure compliance with local laws and regulations.
Ultimately, it’s the employee’s decision on whether to enroll in the employer’s health plan or their spouse’s plan. In today’s competitive talent environment, employers should absolutely strive to offer affordable and comprehensive health insurance options to meet the needs of their workforce.
Job strugglesWhat should I do when an employee's performance and attitude decline? Ask HR
veryGood! (771)
Related
- Meta donates $1 million to Trump’s inauguration fund
- Texas man to be executed for strangling mother of 3 says it's 'something I couldn't help'
- New Yorkers are warned from the skies about impending danger from storms as city deploys drones
- House of the Dragon Season 3's Latest Update Will Give Hope to Critics of the Controversial Finale
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Panicked about plunging stock market? You can beat Wall Street by playing their own game.
- Harris’ pick of Walz amps up excitement in Midwestern states where Democrats look to heal divisions
- Microsoft hits back at Delta after the airline said last month’s tech outage cost it $500 million
- Former Danish minister for Greenland discusses Trump's push to acquire island
- Taylor Swift leads VMA nominations (again) but there are 29 first-timers too: See the list
Ranking
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- How Blake Lively Honored Queen Britney Spears During Red Carpet Date Night With Ryan Reynolds
- Maureen Johnson's new mystery debuts an accidental detective: Read an exclusive excerpt
- Algerian boxer Imane Khelif has a shot at Olympic gold after semifinal win
- Senate begins final push to expand Social Security benefits for millions of people
- Serena Williams, a Paris restaurant and the danger of online reviews in 2024
- Over 55,000 Avocado Green Mattress pads recalled over fire hazard
- Illinois Gov. Pritzker criticizes sheriff for hiring deputy who fatally shot Sonya Massey
Recommendation
SFO's new sensory room helps neurodivergent travelers fight flying jitters
Kamala Harris' vice president pick Tim Walz has a history of Taylor Swift, Beyoncé fandom
USWNT's win vs. Germany at Olympics shows 'heart and head' turnaround over the last year
Jenna Ortega speaks out on age-gap controversy with Martin Freeman in 'Miller's Girl'
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
Freddie Freeman's emotional return to Dodgers includes standing ovation in first at bat
Software upgrades for Hyundai, Kia help cut theft rates, new HLDI research finds
The Daily Money: Recovering from Wall Street's manic Monday