BE SUCCESSFUL NEGOTIATING YOUR NEXT SALARY
You learn a lot in school becoming an Advanced Practice Provider. But they don’t teach you how to negotiate your salary and contract. It’s takes time, research and practice but not negotiating should never be an option. Don’t let fear stop you for getting what you’re worth.
Here are some negotiating tips to help you get the best package:
Know what is important to you – You need to think of the full compensation package – salary, call pay, bonus, benefits, time off, tuition reimbursement, continuing education, retirement, etc. What are the most important, the deal breakers? And what ones are you will more willing to consider – for example would you be willing to take a lower base salary if there’s a bonus or for full health benefits for you and your family? Less for a day shift? Knowing what’s important will assist you in the process of getting the best package.
Preparation – Research salaries in the city/region to get an idea of what your job is worth. Different states/cities offer different salaries. Use AANP and AAPA salary surveys and other sites to get salary information. Ask friends and colleagues, it can be touchy to ask people about salary but getting the right information will help you. Don’t forget about call pay and bonuses as well.
Don’t assume you have to take their first offer – you may be leaving money or other benefits on the table. Most companies expect a counter offer so give them one. Your counter can include base salary, bonus, vacation time, CME money, etc.
Be confident – you know you can do the job, you’ve shown them your value however, be careful not to come across as arrogant.
Keep your emotions in check – deep breath, don’t panic and don’t get angry if the first offer is low. This is a business transaction.
Practice – your goal is to present why you are worth (based on your research) the salary you are asking. Since most of us are uncomfortable asking for money; it really helps to practice it with friend you trust. Do a few runs with a friend.
Remember do not make demands – Always appear to be open to discuss it further – remember – you are negotiating.
These tips can help you the next time you have to negotiate your salary. Get what you’re worth!