Negotiating salary and compensation packages can be an anxiety inducing experience especially for job candidates who have been out of work for an extended amount of time.  However, compensation package negotiations are absolutely critical to making sure that the job candidate gets what they deserve.  Below are a few tips on how job candidates can confidently and effectively negotiate their compensation package:

Put yourself in the employer’s shoes. It’s important that the job candidate understand the needs and desires of the employer before they begin negotiations.  Is the employer doing well financially?  How badly does the employer want to hire you? What type of compensation has the employer provided to past employees? What is the standard compensation package in your industry for someone taking that particular job with your set of skills and experience? 

Don’t aim too low.  Remember, you are not a commodity.  When hiring professionals, employers do not always go for the lowest bidder.  Make sure that your offer is high enough to reflect your value as a new hire; but also make sure it is in line with the financial realities facing the employer.

Carefully consider all options.  When creating a compensation package offer, make sure you have in mind several options.  For example, if the employer is not willing to pay more in salary would they be willing to give you additional vacation hours?  Anticipate the employer’s objections and be prepared to offer them alternatives.

Be prepared to walk away. Compensation package negotiations are only effective if you are willing to walk away.  Before coming to the negotiating table, determine what you’re willing to accept as the final offer and be willing to walk away if that offer is not accepted.