College Grads Are Applying in These Places: 7 Ways To Secure the Salary You Need in a Major Metro
Written by
Aja McClanahan
Edited by
T. Woods
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As a recent college grad, there’s little more exciting than jumpstarting your career and life in a major metro area. According to a recent report compiled by Handshake, cities like New York, Dallas, Los Angeles and Chicago are among the top destinations for new grads.
The areas boast all the characteristics a young professional could ask for — thriving job markets, extensive networking opportunities and vibrant cultural scenes. From careers in tech, finance and healthcare, find out what it takes to negotiate the salary you need in a major metro.
1. Start with the End in Mind
Take time to envision your lifestyle and how your job and living arrangements will work together to make it a reality. Then, note what kind of salary it takes to maintain that standard of living in a given metro. For instance, living in a two-bedroom apartment with a community pool and gym will look very different from living in a luxury apartment in New York’s Greenwich Village or a single-family home in the DFW metro.
Then, consider additional lifestyle factors like having children, pets, a social life, travel opportunities and other diversions. From here, you should have an idea of the salary and compensation packages that would meet these needs.
2. Research Industry Standards
From here, determine a target salary range that aligns with your financial goals and lifestyle desires. This will help you establish a realistic baseline for negotiations. Make sure your salary data allows you to make appropriate comparisons so that your compensation expectations are relevant and practical.
3. Highlight Your Value
During this exercise, you should also gather information that empowers you to articulate your value confidently with potential employers. Don’t forget to explain relevant experience and skills despite being a recent graduate. Internships, extra-curricular activities, projects, and related coursework can build your case as a strong job candidate.
4. Consider the Entire Compensation Package
Evaluate benefits such as healthcare, retirement plans, and stock options, which factor into the true value of your overall offering. Consider the value of non-monetary perks like remote work flexibility, tuition reimbursement, professional development opportunities, transportation allowances, fitness memberships, and wellness programs, which can improve your quality of life and reduce out-of-pocket expenses.
5. Leverage Multiple Offers
If possible, obtain multiple job offers to use as leverage in negotiations. As needed, explore multiple metros and companies. Use these data points to strengthen your case regarding your desired salary and compensation package. Let potential employees know that you’re desirable and already getting offers!
6. Develop Your Salary Negotiation Skills
Start by practicing your communication skills, both oral and written. Then, role-play negotiation scenarios with a career coach, mentor or trusted friend. This will help you practice your approach and hone your salary negotiating skills. If you get stuck, educate yourself on common negotiation tactics and strategies by reading books, attending workshops, or seeking resources online.
7. Don’t Be Afraid To Walk Away
Avoid becoming emotionally tied to a single location or company. This way, you can walk away from the negotiating table if you don’t get the desired compensation package. Remain polite and professional in this case, because you never know when the opportunity may come back around and even more in your favor.
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