Getting your first job offer is exciting — joining the full-time workforce can mean a salary, benefits, and a path to financial independence.  It’s important that you carefully evaluate what the company promises and how much they are willing to pay for your salary before accepting an offer.

Negotiating is something that most people don’t like doing (and they are right). According to a study, more than half of the workers (56%) don’t agree to negotiate when offered a job. CareerBuilder

But here’s a news flash: Most employers will negotiate — even for entry-level employees. More than  half (53%) of employers said they would be willing to negotiate first-time salaries, according to CareerBuilder. This is actually part of their strategy. Most employers offer lower starting salaries, which leaves room for negotiation. You could also be wasting money if you don’t negotiate!

And the payoffs from those negotiations can be huge – in some cases, 11-20% higher, according to Jobvite’s Job Seeker Nation Study

So, let’s say you get offered a starting salary of $40,000 — 11% of that is $4,400! This is per annum. You would have earned an additional $8,800 if you stayed at your job for another 2 years. Three years — that’s $13,200. You can negotiate a salary at a higher level if you are promoted within a few years. You’ll continue to earn more as you go up in the ranks. That means paying off student loans more quickly, having more money in your pocket, being able to afford a nicer apartment/house — you get the idea.

If you look at it this way, there is no reason why you wouldn’t negotiate.

Find out more College VoicesThis is:
How do you land your first job out of college?
Why Black and Latinx women are more likely to struggle with impostor syndrome—and how to overcome it
Women in STEM: 3 Challenges we face ̶ and how to overcome them

CareerBuilder found that more than 50% of employees who refuse to negotiate don’t do it because they are uncomfortable asking for more money. Nearly half of those who didn’t negotiate said that they did so because they were worried about losing the job. Nearly one third said that it was because they were not greedy.

To help you approach your first job, I met with negotiation professionals and people who have had experience in negotiation.

What can you do to stop asking for more?

“You always negotiate a job offer … job offers are dynamic,” said Liza Babin, a 23-year-old who works in entertainment and negotiated her salary for her first two jobs.  You were chosen because you had the most value and could do this job well.

Instead of accepting an offer right away, she recommends that you take the time to investigate the market for the position.  After you have decided what you are looking for in a negotiation, you can ask to discuss the offer with “very calm and collected”

Kate Dixon is a negotiation coach who wrote “Pay Up”: Insider Secrets to Salary Negotiation. She advises clients to make a salary negotiation collaborative.  Both sides will be happy to negotiate a salary raise in this way.  According to her research, similar jobs are typically paid between X-Y and Y, and she suggested something like “Accordingly to mine, these jobs are paid between the X- and the Y range in the marketplace. I am targeting the higher end.”  “How close are we?”

This style of framing shows you are knowledgeable and can give them options for resolving the issue. 

However, there are more options than simply asking for a raise in salary.

Peter Cappelli is a Professor and Director of the Center for Human Resources of Wharton School of Business. He suggested that one-time payments such as a sign bonus or greater coverage for moving expenses could be another option. It may prove more effective than asking for long-term higher salaries.

 “Look for things that you think might be easier for them to give to you and things that are valuable to you,” Cappelli said.  He said knowing what’s on the table to negotiate besides salary — such as moving your start date back, more time off or job title — makes your negotiation stronger than making demands they can’t meet like higher salaries or health-care packages outside of their standard offering.

What to do before a negotiation

Being prepared for any unexpected circumstances is an important aspect of negotiation.  The company will know what a fair demand is if you do your research and make an honest request.  Cappelli stresses the importance of having a reason for asking for negotiation.  You might find people who are similar to you at work, other people with the same job title, and candidates with the same educational level as you earn higher salaries. 

Cappelli stated, “You have to give a reason why you deserve more pay.”  Cappelli stated, “Just saying, “I want more” is not going to get it done. It makes you look stupid.”

Alba Disla used her past experience to negotiate a raise in her starting salary as she worked with Comcast’s Diversity, Equity and Inclusion team.

“I was very nervous because I just wanted any job at all … and I was so ecstatic I even got the offer,” Disla said about what was her dream job at the time.  Although I didn’t have formal corporate experience, I did have a lot prior academic experience so that I could buffer my counterargument.

Disla got her offer upped by $4,000

Disla shared, “I was happy that I succeeded in negotiating because it was something which I was very afraid about. But I know it’s essential as I begin my career as a woman, particularly as a person of color.” 

It’s important that you advocate early for yourself.

Dixon explained that while it is normal for negotiators at first to feel nervous, it is also important not to treat what amounts to business transactions as personal.

Dixon stated that if you are able to get some emotional distance it will make salary negotiation much easier.  What a company gives you is more important than what you are worth as an individual.

Negotiation risks

People often worry about losing the deal when they negotiate.  It can be difficult to negotiate your first job because you are coming from no work experience and don’t feel you have any leverage.

Experts I talked to stated that there is no greater risk than the company saying “no.”

Dixon claimed that she has not seen an offer be pulled from someone who was negotiating in good-fait.  There is virtually no chance of your offer being rejected for a negotiation.

Disla stated that this was precisely what she was scared of entering into negotiations.

“A really big psychological thing for me to get over was part of me didn’t want to confront them or counter because — what if they take the offer away?” Disla said.  “But it just doesn’t happen that way … The worst case is you get the original offer back.”

Dixon warned that pushing someone to accept a higher offer than the “best and last” one can cause frustration among potential employers.  Only asking for more when the deal is done can be considered “risky.”

Her advice is to approach negotiations with gratitude and excitement, in order to make the negotiation go smoothly.  The negotiation should be seen as an opportunity for collaboration, not competition. This will allow you to have a constructive conversation and not become aggressive.

Recognize and celebrate your unique worth

Even if you don’t make any money, it still shows who you really are as an employee.  They will see that you are advocating for yourself.  Dixon stated, “I understand my worth.”

Babin is reminded to recognize her value before she enters into a negotiation.

Babin explained, “When you’re leaving college in a place of uncertainty and don’t have any support systems, it can be very difficult to feel secure and be able stay positive during negotiations.” You can easily get discouraged during this process.

Negotiating a job for women is a great way to get started at an equitable financial level, especially for those who are females.  HiredIt was found that 63% were given higher wages than the women who worked the same job. According to A.C.T., just 7% of women try to negotiate their first income, and 57% of men attempt. studyLinda Babcock, a Carnegie Mellon University Professor, did it.

So, negotiating is essential to getting a fair offer — especially for women.

Jordan Mathews claimed that she had negotiated her last job offer despite the fact she knew how difficult it can be for government to negotiate a salary. She felt it was important to make it work as a woman and tried to get it done.  Mathews began her career as a Community Relations Services program analyst in the Department of Justice. She had to negotiate for three months and then get a security clearance. Mathews stated that she is not regretting the time and effort spent in negotiations, as she was “very satisfied with the end result.”

Mathews stated, “I was aware that I had many skills and experience that were valued and should be acknowledged in my salary.” Don’t try to undersell or downplay any skill you might have. Everything is valuable … You have the most power when they want you.”

If you are a person who has been considering whether or not they should negotiate a job, there is very little at stake and a lot to be gained.

My interviewees recommended LinkedIn videos, NPR Life Kit podcast, and negotiation books.  Glassdoor, PayScale and NPR Life Kit podcast are excellent resources for getting a feel of what the current market wage is for you position once you’re in negotiations.  Mathews, Disla and Babin found that having a mentor to guide them was crucial in helping them achieve happy outcomes.  Don’t hesitate to ask for the things you believe you are entitled.

Mathews explained that people feel entitled to feel like millennials are right. But, she said Mathews believed we should shift our perspectives. It’s a good thing to have employees who are able to recognize and appreciate their contribution to the team. [companies]It is a sign of confidence.”  You actually show confidence when you do it.”

CNBC’s version of “College Voices″ is a series written by CNBC interns from universities across the country about getting their college education, managing their own money and launching their careers during these extraordinary times. Kelly HeinzerlingShe received her undergraduate degree at the University of Pennsylvania, and her master’s from Northwestern University. In the summer 2021, she was an intern for CNBC’s creative service team. Edited by Cindy Perman

Disclosure: CNBC is owned by Comcast.