Salary Negotiation
The process of discussing and agreeing upon compensation package terms with a potential or current employer, including base salary, benefits, and perks.
Salary negotiation is a critical career skill that can significantly impact your lifetime earnings. Most employers expect some negotiation.
Negotiation Components:
- Base Salary: Annual compensation amount
- Benefits: Health insurance, retirement plans
- Time Off: Vacation days, sick leave, personal days
- Flexible Work: Remote work options, flexible hours
- Professional Development: Training budgets, conference attendance
Research shows that people who negotiate their first salary can earn over $1 million more during their career.
Examples
Salary researchCounter-offerBenefits packageStock options
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