Top 10 Tips for Negotiating Your Compensation

1. Discover what you're worth by researching salary surveys for your occupation, experience and location. Some websites include:
   • MedFriends: Physician Salaries
   • StudentDoc Resource Guide
2. Research your level of skill (assistant professor, associate professor, private practice) so you can sell your skills, talents, accomplishments, work ethic and experience for top pay.
3. Get the facts on the costs of relocating (if applicable). Some websites include:
   • Salary.com's Cost of Living Wizard
   • Economic Research Institute’s Career and Cost of Living Comparison
4. Research the institution, hospital, or group to see if they’re flourishing or hurting financially.  If flourishing, go for a higher salary, benefits and perks.  If not, negotiate what you can comfortably live on, but think seriously about your future financial stability.
5. Politely but firmly sidestep discussions of specific salary (say it’s negotiable, open, or competitive) until you’re confident they want to hire you. If asked point-blank about salary, counter by asking what the range is, so you know the boundaries.
6. Inquire about additional professional benefits and perks, so it appears that you’re compromising if you don’t get them, or attempt to trade them for a higher salary.
7. Command rather than demand, while working toward a win-win situation.
8. Be eager and enthusiastic, but not a pushover — you should be ready to politely end discussions and "walk away" if you’ve reached an unsatisfactory negotiating ceiling.
9. Even if you get what you want, wait to accept for a day or two to think it over, time permitting.
10. Consider the value of benefits and perks too, such as protected research time, incentive bonuses, conference / travel time, and promotion potential.

Top 10 Mistakes to Avoid While Negotiating

What I Wish I Had Known About Negotiating: "I would've taken a more collaborative or cooperative approach to negotiation — one that produces agreements that are better for both sides. I've found it beneficial to listen to the needs and concerns of the other side, communicate my own priorities and pressures, and try to find solutions that benefit all parties, resulting in a win-win solution. By looking for those win-win solutions, I have tended to preserve and enhance long-term relationships and avoid burning as many bridges, compared to others who only focus on the short-term gains."

1. Lying about your past salary, job title, or other employment conditions. Reference checks will almosst certainly expose you!.
2. Being aggressive in negotiations. Strive for being polite but firm.
3. Shortsightedness. Short-term gains may not lead to long-term gains.
4. Focusing on "perks" — vacation time, perks, employee benefits, etc.  Concentrate instead on your job duties; once you both are in agreement with that critical base, negotiating additional vacation time in lieu of a higher salary, etc. can be considered.
5. Expecting to "start at the top." If appropriate to your experince level, express your willingness to work your way up the ladder.
6. Setting your own timetable for decisions to be made. It may take time for employer to make decisions based upon the institution, hospital, or group’s policy.
7. Being one-sided in negotiations. The goal should be a win-win resolution.
8. Threatening to take a job with another institution, hospital, or group if the employer doesn’t hire you right away.
9. Overpromising what you will do if hired.
10. Reacting emotionally — e.g., expressing anger or frustration; physically storming out of negotiations.