Salary Negotiation for the College Grad

Often a college grad is so excited about the new job and designation that he or she forgets to bargain hard to get the best possible salary. As a recent college grad, you may not have the necessary experience at your new job, but you can still try to negotiate a better salary.

Do Your Homework

One way to be able to negotiate a good deal for yourself is to do some research on how much the average college grad takes home as pay. Apart from using the Internet, you can ask your seniors for tips on what sort of pay to expect. If you have specialized in a sought-after subject, you should negotiate a higher pay for yourself.

Use Your Previous Work Experience

To the starting salary of a college grad, add your previous work experience. Include everything from summer jobs to internships, as long as they are relevant to your field. See how many years of work experience this adds up to. Give yourself extra credit for this. Raise your basic salary expectation to compensate you for your work experience.

Factor In the Company's Size

Large companies, especially those that are market leaders, may not pay as much as their smaller counterparts. They may expect their brand value to rub off on you if you hold a job there for a few years. So be prepared to accept a lower salary if you are gaining other benefits from your work there. If you learn a lot, your next jump in salary can make up for what you forego now.

Also take into account other perks, aside from salary, that raise the value of your compensation.

Don't Forget Location

Your salary also depends on the location of your job. Jobs in New York City typically pay more than those in regional areas. This is another point that you have to keep in mind when negotiating your salary as a recent college grad.

Another Offer

The best bet you have of receiving a higher salary than the one originally offered is if you have an offer from another company. This fact will often increase your value in the eyes of the company you are negotiating with.

By keeping these points in mind, a new college grad can negotiate a good salary. Do remember that you are still untested in the field. Don't raise your salary expectations too high. Salaries are typically higher once you prove yourself to be a good and competent worker. Your first thought, as a recent college grad, should be to secure a job where you can prove yourself. A high salary should be your second priority, not your first.