Getting your first job is a huge accomplishment, but throughout the journey of accepting that first offer and settling in during those first few months, new graduates may find themselves with many unanswered questions. How much money should you ask for in your first job? Can you negotiate for more money when you get your first job offer? What if you don’t fit in or your ideas aren’t being heard?
Whether it’s negotiating a higher starting salary, asking for your first raise or navigating the tricky world of benefits, these tips from industry veterans will help new graduates feel even more prepared to take on their first real-world job.
When you land your first job, you may be inclined to just accept the offer, no questions asked. Scoring your first real-world job is exciting, but just because you’re new to the working world doesn’t mean you have absolutely zero negotiating power.
The Creative Group, a company specializing in connecting creative talent with major companies, puts out an annual comprehensive guide to salaries in the creative and marketing fields. In the 2018 guide, 57 percent of advertising and marketing executives noted they would expect and be willing to negotiate salary with candidates.
“A lot of people don’t negotiate. So my No. 1 piece of advice is to expect that it is OK to negotiate,” explained Diane Domeyer, executive director of The Creative Group.
While you do have the power to ask for a higher salary, new graduates should be realistic when it comes to their asking price. Jaclyn Johnson, CEO and founder of Create & Cultivate suggested it helps to “have a bottom line in mind but be flexible. As a new grad you don’t have as much bargaining power out the gate, getting experience is key, but also be able to understand your growth path.”
Negotiating for more money is a great way to kick-start your professional life, but don’t come to the table unprepared. Experts suggest that doing your research on the average salary for an entry-level position in your field is critical. Johnson recommends checking out Glassdoor and the Bureau of Labor Statistics as a starting point. The Creative Group’s 2018 Salary Guide is another good starting point. Domeyer suggests having at least two to three salary data points in your back pocket.
The same advice applies for newcomers looking to snag their first raise at a company. Doing your research is critical. It’s also important to have some hard evidence to justify the pay raise you are asking for.
“You can’t necessarily walk into a negotiation and say, ‘I heard from so and so that she makes X, so I deserve Y.’ It’s not like that. It’s a data point that helps you build your narrative and what you are doing is saying ‘That’s what I’m worth’ but having a benchmark of more than one data point is really important and I think there are a lot of places to find that,” said Gillian Meek, president of Keds.
Figure out what skills you posses that set you apart from your co-workers and write those down or keep them in the back of your mind when you enter into a salary negotiation meeting. Do you go above and beyond for your company and always step up to help on new projects? Use that to your advantage.
“That doesn’t have to be technical. It can be your positive attitude and willingness to jump in. Having this in mind and using the average salary for the position, coupled with your bottom line, will help you create a range that is fair to ask for,” Johnson argued.
“Never assume that your direct supervisor has as good of a recollection of your contributions as you do,” added Domeyer.