Quote:What advice can you offer for salary negotiations? I am a nurse manager and it's difficult pricing yourself, I know the hours are well over 40 and you don't get paid more so how do I find out a fair salary?
Thanks,
Bonnie
Salary Negotiations is a subject I always get a lot of questions about. Salary negotiations should be a three step process: research, leverage, and negotiation.
RESEARCH
The first thing you need to do is research salary. Find out how much nurses with your level of experience are making in your area. Make sure that the nurses work in similar departments as you do
For example, if you work in Long Term Care then don't ask ICU nurses how much they make as your point of comparison. It is true that you are both Registered Nurses, but the skill sets used and certifications vary by specialty.
Also be conscious of geographic factors. Nurses in San Francisco make more than nurses in Los Angeles or Kansas City.
Finally, don?t assume that you are worth the same pay as a nurse with 10 years more experience than you. Hospitals have salary ranges for all of their positions, and experience determines where you fall on that range. Because the facility likely employs 100?s of nurses they can?t bring you in for more money than everyone else in your price range.
Once you know the general salary range of nurses in your area, you will have a reasonable idea of what to ask for.
LEVERAGE
This is the post important part of negotiation. As an RN you are the one in high demand, the number of positions is greater than the number of nurses. Therefore you would think that you would have great leverage, right? Maybe not?there are a ton of nursing positions, but there is a shortage of the really great positions. So you have to assume that you are competing for the great positions with several other nurses.
So how do you get leverage? First of all, go through the entire interview process and wait for a job offer. Recruiters will often times interview multiple candidates and only extend an offer to the best candidate. If a deal can?t be struck then they will move down the list and make an offer to their second choice, etc.
When an offer is made to you, the hospital is essentially telling you that you are their best option. This gives you a little leverage to work with. If you negotiate before this point, then you will likely be removed from consideration if you demands are too high.
NEGOTIATION
Tell them that you have one or two other offers, and with all things being equal they are your first choice. IT IS VERY IMPORTANT THAT YOU POINT OUT ALL OF THE NON-FINANCIAL REASONS WHY YOU WANT THE JOB. If an employer thinks that money is your sole motivation, then it may make him/her question your long term viability. This is because you might jump at the chance to make more money 6 months from now.
Then ask your potential employer if this is their absolute best offer. Suggest that if they have a better offer, then it would be a good idea for your employer to extend it because you will make an decision within the next 48 hours based upon the best financials, and the intangibles (like department staff, etc.)
Also ask them to send you information on benefits, sign-on bonuses, and relocation. By doing this, you are suggesting that they need to include these things if they haven?t already, but you are not directly asking for it.
If you take these steps, I guarantee you that your potential employer will offer you the most money they have available for a nurse of your experience. The employer will think that this is their one chance to get you, so they will throw everything in they have at you.
One last tip. If you tell a facility that you are going to make a decision in 48 hours?make sure you stick to your word. I have seen many hospitals rescind offers because nurses didn?t keep to their deadlines.
I hope this helps?good luck.