10 tips for negotiating your first job offer (and every one after that!)

Many college graduates don't realize that they can negotiate their salary even if they don't get a first job.

Most employers don't give you their best offer at first because they expect to negotiate a salary offer. It's your job to know what you're worth and to ask for more money if their offer doesn't match that.

How much more are they going to offer when you consider that a salary is given to you every single year? If you stay for two years and four years, you will get $20,000. You get starts from $5,000 higher if you get a raise.

The numbers are from the first few years. A study done at the University of Illinois in 2010 concluded that neglecting to negotiate just $5,000 more could mean the loss of more than $600,000 over the course of a career.

You can buy a nice house for $600,000. Why wouldn't you ask for more money?

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What will recent grads think if I ask for more money? If I ask for more, could it hurt the offer?

The answer is not correct. No one is going to take away an offer just because you asked for more. They assume you will ask for more. They will think of a person who knows their worth. They are not afraid to ask for it.

I don't know who you are, but that is the kind of person I want on my team. They will be willing to ask for more if I hire them. Why wouldn't you ask for more? Asking for more is likely to impress the hiring manager.

You have to do your research before you say you want a million dollars.

Joseph DiNiso, a senior computer engineering student at Virginia Tech, said to do plenty of research on the current job market.

DiNiso said that students should prepare for a salary negotiation based on the starting salary in their field. This number will give you a ballpark estimate of what you should be making and help you determine your salary goals.

Joseph DiNiso, a senior computer engineering student at Virginia Tech who will be working at Microsoft as a software engineer after graduation.

You need to know the salary range for this type of job, not only the typical starting salary. Don't settle for the lowest point.

The team at Ha n dshake suggests looking at the Bureau of Labor Statistics website for a typical pay range, which will vary by location. Jobs in New York City tend to pay more than those in rural areas because of the higher cost of living.

David Paykin, who has amassed over 1.7 million followers on TikTok and has huge followings on other social media, has helped many college students, recent graduates and young professionals in their job search. He suggests doing research on several sites to get a sense of the salary range.

It's important to have confidence when applying for jobs and negotiating a salary. You should believe in your skills and experience. Confidence is something many of us struggle with, but it has no place at the negotiating table. If you don't stand up and say I'm worth it, then you're not worth it. Who will do it?

Think about that hiring manager on the other side of the table. Do they want someone who is unsure of themselves?

No. They want someone on their team who knows what they are doing and is confident in the job they are doing. If you struggle with confidence, it's understandable, but check it at the door when you're negotiating for your career.

One way to build confidence is by talking to people who are higher up in industry and people who have a similar background, said Rachel Castellino, senior statistics and data science student at California Polytechnic State University.

Rachel Castellino, senior statistics and data science student at California Polytechnic State University (San Luis Obispo) and incoming data scientist at Meta.

It is hard to not jump up and down with excitement when you first get a job. You have to be patient and allow the interview and negotiation process to happen at a pace that is comfortable for the hiring manager. Remember that you are asking them to give you money every single year and you have no idea what they have on their plate right now besides negotiating with you, so stay cool. Speak slowly. Ask thoughtful questions and answer thoughtfully.

You should wait for the hiring manager to give you compensation. Don't expect this to happen on the first meeting or the second meeting. You have to be ready for it.

Everyone needs to know what the salary range is for the job they are applying for, otherwise they may wind up getting too low an offer. According to the Institute for Women, women are paid 83 cents on the dollar for every dollar earned by men.

Cheryl Minnick, career success director at the University of Montana, said that women tend not to negotiate. It is important to know your professional worth, defend your value, and negotiate your first salary.

It's important to know the salary range for a job but also to be clear about what you bring to the table, why you are more qualified and how you will be a bigger asset to the company than any of the other applicants.

You have to be prepared for how you would negotiate once you have a starting salary and typical range.

Paykin has provided a number of free resources to the public on his website, including his Interview Guide, resume template, networking templates, cover letter template, and career cheat codes.

Paykin gives many tips for all kinds of situations one might encounter in an interview.

If your research shows the range to be between $50,000 and $75,000, then the salary you would give to the recruiters would be $50,000.

If you left it at the range you found online, it would be $11,000 more than it is. You have to do the math because your salary is every year. In one year, that is $11,000, $22,000 in two years and $44,000 in four years. It's possible to get a nice new car for that amount of money.

Why wouldn't you ask for more?

The worst thing that can happen is they say no.

When you are negotiating for a full-time staff position, it is more than just your salary.

Benefits are as important as researching and negotiating your first job offer, according to Minnick.

Minnick said that medical benefits can be priceless if they include dental, vision, pharmacy, paid-time off, and employee assistance programs.

There are other benefits that can be added to your compensation package such as a signing bonus, annual bonus, paid time off, 401(k) matching, compensation for relocation expenses, free or discounted child care, parking and tuition reimbursement, just to name a few.

It is always important to consider the whole package when making a decision. When you factor in the benefits, a job with a lower salary is worth more.

It never hurts to ask.

New grads are worried that if they negotiate, they will be greedy or even take the offer away. If you approach the conversation well-informed, respectfully and thoughtfully, that shouldn't be a problem.

Glassdoor has a great piece of advice, never apologize for asking for more.

Negotiating is uncomfortable, and our natural tendency is to try to smooth the edges on a difficult conversation, according to the career advice team at Glassdoor.

Would the hiring manager want to hire someone who backs down? No.

Paykin has a list of ways to bring up difficult conversations in his interview guide. He suggests saying something along the lines of, " Before discussing compensation, I would like to learn more about this role and what it entails." I am certain that if we are a good fit, we will come to an agreement on a fair and competitive salary.

I don't know who you are, but that sounds like someone I would want on my team.

Your salary will dictate a lot of things, from where you live to what you can afford to buy and how much you save. Don't just wing it. It is practice, practice, practice.

Ask your roommate, friend, family member, career counselor or other advisor to role-play some negotiation scenarios for you.

The National Association of Colleges and Employers said that this will improve your ability to be objective, persuasive and strategic. Asking them for feedback will help you improve both what you say and your body language. We don't realize what our body is doing when we are nervous. You may be sending a signal that you are not comfortable. It will help you be more relaxed and natural if you get feedback.

You should include a bulleted list of talking points and accomplishments in your entry.

Brennan suggests keeping a running journal of your projects, what you've learned, what you've contributed, and a folder where you store praise from bosses and colleagues.

She said that the folder is a great place to go when you could use a boost of self-confidence, and that themes can emerge about your performance when negotiating a raise.

It is possible that you get an offer for a job you love, but the salary isn't where you want it to be.

In this scenario, you should ask your potential boss if she has any flexibility. If they are willing to go a little higher, then you should check it out.

It's possible they like you and think you deserve it, but they can't give you any more. If you want to see if they are willing to be flexible on other things, you should look at the overall compensation package.

Brennan said to convey how excited you are about the opportunity, especially when you are asking for more. If one can be found, the company will want to hang in there with you and find an arrangement that will work better for you.

It is good to be specific about what you like about the company, this shows that you are a good fit for the company culture. Discuss what you would bring to the table and why you would be an asset to the team and the company.

College Money 101 is a guide written by college students to help the class of 2022, from student loans to budgeting and getting their first apartment, learn about big money issues they will face in life. Even if you are still in school, you can start using this guide now so you are financially savvy when you graduate and start your adult life on a great financial track. Allison Martin is an intern at CNBC. She is a senior at Virginia Commonwealth University, majoring in computer science with a concentration in data science and psychology and double majoring in actuarial science and mathematics. Cindy Perman edits the guide.

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