One of the most common complaints from employer around new grads is many have unrealistic salary expectations. It is imperative you do not base expectations according to what your peers and alumni tell you. Instead, talk with people in the industries that you are interested in joining.
Over years, the salary expectations of new grads have increased, but this isn’t the case for all verticals. Occasionally, young graduates are asked to give a salary expectation for a role, this question might seem awkward to a new grad, but you need to know how to answer it the right way.
Review the salary range in your geographical area according to the position you are considering. Keep in mind that salary ranges vary across the country. For example, salary range in Atlanta may differ from salary range in Seattle. Here are a few websites that will help you determine your salary:
Also, research the company and determine if it recently had any large layoffs or if they are doing really well. Try to get in touch with a current employee to learn more about the company culture and environment. Candidates want to go in with the right expectations, and that is why our program, Inside Sales Bootcamp, does a lot of this ground work for students and works with hiring partners such as TheLions, so it makes it very easy to have these expectations.
When you are applying for a sales role, be ready to Negotiate your salary. New grads that negotiate their salaries early on tend to progress better in their careers compared to those who shy away from the subject, because companies will simply not pay you more just because you do a good job, usually you will have to push for. Negotiating a salary takes practice, and you have to know your walk away points and how hard you want to push before sitting down at the negotiation table.
Before you negotiate your salary and announce your salary expectations, consider the fact that employers often offer more than just money and how important perks like health insurance might be to you. Health coverage benefits and other perks can offset a smaller salary. If you are going to commission as part of your base, make sure that that the comp model is achievable and very clear on goals and pay out. At Inside Sales Bootcamp, we have seen lots of people get excited about comp packages, but sometimes forget to ask the hard questions and get clarity around keep comp points.
When you are getting ready to negotiate your first comp package, make sure to ask for help from mentors and friends, have them actually read your offer letter, and don’t be afraid to push back for benefits and comp numbers that are important to you.