August 21, 2013
Study: Many Workers Leaving Money on the Salary Negotiation Table
According to a recent CareerBuilder survey, 49% of workers do not negotiate their salaries. Although 45% of employers are willing—and expect— to negotiate salaries for initial job offers, many workers are leaving much-needed money on the table, accepting the first offer given to them.
The nationwide survey–conducted online by Harris Interactive on behalf of CareerBuilder, includes finding from nearly 3,000 full-time, private sector U.S. workers and more than 2,000 hiring managers and human resource professionals. It explored how both sides approach salary negotiations and looked at compensation trends for the upcoming year.
And it seems that young professionals are the least likely among this group, with 45% seeking the best offer (compared with 55% of their elders).
In terms of industry, professional & business services workers are most likely to negotiate salary, followed by, IT professionals, leisure and hospitality employees, and sales workers.
“Many employers expect a salary negotiation and build that into their initial offer,” said Rosemary Haefner, vice president of human resources at CareerBuilder, in a statement. “So when job seekers take the first number given to them they are oftentimes undervaluing their market worth. Not every hiring manager will be able to raise the offer, but it’s never a bad idea to negotiate—especially if you have experience and possess in-demand, technical skills.â€
Want tips and resources for negotiating the pay you deserve? Visit BlackEnterprise.com/SalaryNegotiation.