So many college graduates are just grateful to get that first job offer that they miss one critical factor: You can negotiate your salary — even for your very first job!

Many employers expect that you will negotiate a salary deal. This means they won’t offer their best offer right away. That means it’s your job to know what you — and this position — are worth and to ask for more money if their offer doesn’t match that.

You may not think it’s a big deal — how much more are they really going to offer? — but when you consider that a salary is given to you every single year and that any raise you get is on top of that, if you even negotiate $5,000 more in your salary, that’s $5,000 every year. If you are here for 2 years, that’s $10,000 and for 4 years it is $20,000 respectively. You get a $5,000 raise.

These are only the numbers for the first year. A study by the University of Illinois Urbana-Champaign’s Grainger College of Engineering in 2010 found that if you fail to make a deal for $5,000 less, your chances of losing the contract could be as high as 80%. more than $600,000 over the course of a career.

It’s possible to buy a nice home for as low as $600,000. If you look at it this way, you can actually purchase a really nice home for $600,000.

Learn more College Money 101:
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How college students can start investing — and making — money
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Here’s what a lot of college grads don’t know about their first job offer
How to negotiate the salary for your first job offer

Some recent grads might say — well, what will they think if I ask for more money? Asking for more money could jeopardize my offer.

It is not true. You can’t expect anyone to refuse you an offer just for asking. They assume that you will request more. They will assume that you will ask for more. They won’t be afraid to request it.

That is exactly the type of person that I want to work with. You see, if you hire them they will ask for more from our company and for our team. This is why you should ask for more. Asking for more is a great way to impress and not offend the hiring manager.

At HandshakeFor college students looking for a job, you can check out the Bureau of Labor Statistics site and search for your job title. The average pay range will vary depending on location. For example, New York City job vacancies typically have higher salaries than jobs in suburban areas or rural locations due to the high cost of living.

David Paykin has over 1.7 Million followers. TikTokMany college students, graduates, and professionals have used his social media platform to help them in their job hunt. His advice is to research on multiple sites, including PayScale, SalaryList, Salary.com, Levels.fyi, Indeed, GlassdoorThese sites can be used to gain a better understanding of the salaries.

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. Women are especially important to know the salary range for their job. paid 83 cents on the dollarThe Institute for Women’s Policy Research says that men make one for every dollar.

Cheryl Minnick at University of Montana is career success director. “One reason the wage is lower than men’s” she said. It is crucial to recognize your professional worth and value your work, then negotiate the first salary and any subsequent ones.

So, it’s important to not only 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 will be a bigger asset to the company than any of the other applicants.

Paykin made a number of resources free to the public available on his site. davidpaykin | Beacons mobile websiteLike his Interview Guide, Resume Template, Networking Templates, Cover Letter Template Career Cheat Codes.

Paykin offers many helpful tips in his interview guide to help you deal with all types of situations. If you find yourself being asked for salary, Paykin recommends that you “multiply” the lower end of your range by 1.2 in order to have some buffer. The reason is that if they offer you the low range of pay, the cushion will make you more toward the middle. That is important when you look at your career.

The guide gives one example. “Let’s suppose that your research has shown the range to be between $50,000 and $75,000.” If this was so, then the salary you would provide to the recruiter would be $50,000*1.2 which would be “$61,000 for the bottom of the range and $77,000 for the top of the range.”

So even if your salary is at the lowest point in your range, that’s still $11,000 less than if it was set to the online range. Again, you should do some math because that is what your annual salary will be. This is $11,000 for one year, $22,000 for two years and $44,000 over four years. This amount can be used to buy a very nice new car.

Also, why not ask for more?

They will say no. One of the greatest things that can happen is that you receive a little extra every year.

In their blog, Glassdoor’s career advisory team warns that “Negotiating can be uncomfortable” and suggests they try to soften the edges of a hard conversation. negotiation secrets. It could seem a sign to the recruiter/hiring manager that you’re willing to apologize, which could lead to a costly response.

It is important to consider the viewpoint of the hiring manager. Would they be happy with someone who backs down when it comes to hiring? No.

Paykin’s interview guide also includes a number of tips and tricks for bringing up difficult topics such as salary negotiation. Paykin suggests that you say something like, “Before we discuss compensation, I would love to learn more about the role and its responsibilities.” This company has been thoroughly researched and I’m certain we can reach an agreement about a fair, competitive and reasonable salary.

That sounds exactly like someone I’d love to have on my team.

You will be able to do this and improve your abilities.objective, persuasive and strategicThe National Association of Colleges and Employers said, And, ask them for feedback to help you improve both what you are saying — and your body language. It happens sometimes, especially when nervous, that we don’t see the body doing what it is. Your body may send signals that it is uncomfortable, such as fidgeting or toe tapping. You will feel more at ease and natural if you have rehearsed the feedback.

And you should also go in with a bulleted list of talking points — and your accomplishments.

Brennan recommends keeping “a running log of all your projects, learnings, and contributions” along with “a folder to store praise from bosses or colleagues.”

“Not only is that folder a great place to go when you could use a boost of self-confidence, but themes can emerge about your performance,” she said, that you could then use when negotiating a raise — or the salary for your next job.

Deepak Malhotra, Harvard Business School Professor at Harvard Business School writes that this situation should be discussed. Harvard Business Review. You can ask them if you are willing to take it a step further.

Malhotra explained that it is possible for them to like you, believe you merit it and not give you anything more. So, this is where you look to that overall compensation package and see if they are willing to be flexible on anything else — start date, job title, time off, bonus, etc.

″College Money 101″ is a guide written by college students to help the class of 2022 learn about big money issues they will face in life — from student loans to budgeting and getting their first apartment — and make smart money decisions. This guide is available to anyone, regardless of their age, so that you have financial knowledge when you finish school and can get started on your adult career. Allison MartinCNBC’s technology and product team has hired her as a 3-term intern. Virginia Commonwealth University Senior, She is studying a dual degree in computer science. Her concentrations are in psychology and data science. Additionally, she has an additional minor in math and actuarial science. This guide was edited by Cindy Perman.

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