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A friend of mine was applying for a position today, and the employer requested that the cover letter include a salary requirement. I’ve read before that a good negotiation strategy is to never be the first to throw out a firm number. You automatically give the other person the upper hand.
I found this sample paragraph from QuintCareers, though, and it seems to do a good job addressing the salary range while leaving room for negotiation.
Per your request, an acceptable salary range for this job, based on the description and my research, is $45,000-$50,000, not including benefits or supplements. My requirement is flexible and negotiable, depending on such factors as additional benefits, faster salary reviews, and increased advancement opportunities.
I like that it also outlines the terms on which you’re willing to negotiate. In this economy, it’s probably easier to negotiate for non-monetary compensation like flex time and extra vacation — things that don’t cost the company money on paper. What do others think? Is that a good approach to take?
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Comments
04.16.09
I would advice against using the example above, simply because it doesn't show your value. In order to get the upper hand in negotiations, it is not imperative to show that you know what the going rate for an individual that has the skills and experience is getting for doing the job. What is important is to show how much value you bring to the table, and take salary away as an obstacle to hiring you.
I would recommend an example more like this:
"In 2008, through introduction of new candidate outreach tools in my recruiting efforts I reduced cost to hire by 50% or $5000. Over the course of the year I hired 100 candidates, for a total cost saving to my company of $500,000. Additionally, I reduced time to fill by 7 days, through a proactive preclosing stratgegy that reduced turndowns by 95%, and added 7,000 sales days to our organizational performance. Based on my experience and accomplishments, I am sure that your organization would make a competitive offer and am willing to consider all competitive offers."
When a company asks for salary requirements they are looking for reasons to exclude candidates. By showing how you made money and/or saved money for your company in quantifiable terms, you give them a reason to include you, and therefore begin the process of having the upper hand in negotiations.
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