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Should You Negotiate Salary and Benefits?

Cite this article as:"Should You Negotiate Salary and Benefits?," in The Business Professor, updated November 22, 2019, last accessed July 14, 2020, https://thebusinessprofessor.com/lesson/should-you-negotiate-salary-and-benefits/.

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Next Article: Steps in Negotiating Salary and Benefits

Over 60% of new employees do not negotiate the terms of their employment. While there are some positions for which benefits (such as salary) are not negotiable, the vast majority of benefits can be negotiated.

If this is the case, why do so many new employees not attempt to negotiate their employment benefits? The reasons are generally understood to include:

  • Understanding Value – Employees may not understand the market rate for a professional with their skills. As such, they tend to attribute too little value to those skills.
  • Appearance – Many new employees are appreciative and do not want to create a negative impression on the employer by negotiating benefits. Specifically, they do not want to appear greedy or unappreciative.
  • Confidence – Many employees lack the confidence to confront a situation that they believe is confrontational in nature (though negotiation of benefits should not be confrontational). They believe that any level of negotiation could result in them losing the job offer.

In truth, if the negotiation process is handled correctly, the applicant should forgo negotiating based upon these reasons. Below, we take you through the steps of preparing for and successfully managing the negotiation process.

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