March 31, 2011

Be flexible when negotiating pay, but don’t sell yourself short

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Q: I have been approached by a possible employer to help run his limousine business. I have experience and have told him my goal is to run his operation, but that I need adequate compensation for a full-time salaried position. We agreed for me to work part-time hourly on my days off but have not negotiated a rate. If I were to resume where I left off in the transportation field, I would be at $17.50 hour. But, I really want to leave my current position and am willing to take a pay cut to do so. I am currently at $11.30 an hour plus tips (which are far and few between), so my motivation is there, but I don’t want to short myself in the beginning. What will be the best course of action to follow?
-AG, Seattle

Kristen says: I ran a wage comparison on salary.com, and $17.50 is actually right around the median earning for your field, so it is not unreasonable to ask for that amount to start. Since you have a fairly wide range of flexibility, negotiating down a dollar or two if your potential employer isn’t open to the median isn’t a problem. While it’s great that you are willing to be flexible, try not to undersell yourself in the short run. If your potential new employer thinks you don’t know your own market value, he may question whether or not you have the business acumen to take over the business over time, which may include hiring new employees. If you are eventually going to become a salaried employee, it is important to remember that transition will be predicated on both your proven earnings and your management potential.

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