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Are you a college or university student looking to land an internship? Is there an outstanding opportunity that you know is just a click away if only you could get the compensation package? Well, you’re in luck! Today we’re going to discuss how to make sure your offer for an internship position is competitive. We’re going to talk about how to negotiate salary for internship and more!
Negotiating for salary for an internship can be a little more challenging than negotiating for salary for a full-time position, because you are not yet an employee.
However, there are still ways to negotiate with your potential employer and come out with a great deal.
First of all, don’t feel bad about asking. You have every right to ask for what you deserve, and the company that is hiring you will most likely be happy to pay you what they can afford. If they are not willing to negotiate, then perhaps they are not the best fit for your needs or career aspirations.
The first thing you should do is research what the going rate is for interns in your field. You can do this by visiting websites like Glassdoor or by asking around on social media (make sure not to post this publicly anywhere). Once you have a number in mind as to how much other companies are paying their interns, go ahead and set up an interview with that company—and bring up the topic of compensation!
Be sure not to come across as greedy or entitled when discussing compensation; instead, focus on what value your experience brings to the table compared with other candidates who might be applying
How to negotiate salary for internship
Introduction
Internship season is an exciting time for college students. You get to work in the real world and make valuable connections with companies you admire. But maybe you’re less interested in what your internship offers you, and more interested in what it can offer…your bank account. Can you negotiate a salary as an intern? And if so, how do you do it?
Find out the pay range of similar positions at similar companies.
Finding out the pay range of similar positions at similar companies is a critical first step in your research. You can use resources like Glassdoor, Salary.com, PayScale.com, or the Bureau of Labor Statistics to get this information.
Knowing what the average pay is for similar positions at similar companies is important because it will help you to set your expectations about salary negotiation and give you more leverage during negotiations with your employer.
If you have some decision-making power, make a list of what is most important to you.
If you have some decision-making power, make a list of what is most important to you. Maybe it’s the commute time or your commute cost. Maybe it’s working hours, or location. Maybe it’s the type of work that will be done and if there are any opportunities for advancement in the field. If you were offered a job in two different cities and one had more perks than another, how would that affect how much money you would accept?
Before starting your salary negotiation, decide what makes this job worth taking on in your mind.
Take a look at your competition.
The first thing you should do is take a look at your competition. What are similar positions paying? You can get a sense of this by looking at the average salary of different jobs in your field, or by reviewing profiles on job boards like Glassdoor.com.
Be sure to keep in mind that there are many factors that go into determining compensation, including industry standards and market prices for executives with similar experience levels. It’s important to consider what other companies are offering, as well as what people with similar experience are making in your area.
Decide how much you are willing to compromise.
- Decide how much you are willing to compromise. If you are in a position of power, and the company is desperate to fill the position, then you may be able to negotiate more. However, if you’re competing with other candidates for the job or internship role, it’s unlikely that your employer will continue negotiating once they’ve offered what they think is fair compensation for the job.
- Be prepared with a counteroffer if necessary. If your employer cannot provide enough compensation for your experience level and education background within their budget constraints and/or salary range guidelines (which they should have provided as part of their initial offer), then it may be time to consider making a counteroffer based on this information—but only after carefully considering all factors involved! For example: if an employer offers $30K per year but says they can only afford $20K annually because this would put them over budget by 10%, then asking them if there are ways for them to save money elsewhere so that they could possibly accommodate an increase could help maximize efficiency across departments while still providing appropriate paychecks for interns who deserve them most!
Figure out when you should start negotiating your salary.
There are several times during the hiring process when it’s appropriate to begin negotiating your salary:
- Before you receive an offer. This is a good time because it gives you leverage over the hiring manager and shows them that you’re serious about accepting their offer. You should negotiate based on what other people in similar roles are making, not on what you think is fair or reasonable.
- After receiving an offer but before accepting it. As long as they’ve made clear that they intend to hire you, this can be a great opportunity for both parties to get something out of the deal—either more money or more time off after starting work (which also saves them money), or some combination thereof. You should continue using data from online resources like Glassdoor and Payscale for reference points here, just like with pre-offer negotiation.
- After accepting an offer but before signing anything official with HR . This is when things get tricky because once someone has said “Yes!” then changing their mind later could make things awkward at best and potentially lead them down a path where they’ll need legal representation from someone like me who specializes in helping people avoid lawsuits… which brings us back full circle!
Be confident about what you bring to the table.
As you prepare to negotiate your salary for internship, it’s important to remember that your confidence will speak volumes. When you are confident in yourself and your ability to do the job, others will be able to see it too. Your confidence will help you stay calm during the negotiation process and ensure that you’re able to articulate why you deserve what you’re asking for.
Be confident about what you bring to the table. Let them know about:
- Your skills, knowledge, and experience
- Education (if relevant)
- Personality traits (for example, being a team player)
- Ability (for example, having previous job experience)
Strive for clarity in the negotiation process.
When negotiating salary, there are a few key things to keep in mind. First, make sure that you understand what you’re asking for and what your company can offer. You don’t want to fall into the trap of negotiating for one thing (money) while actually wanting something else (flexible hours). Second, be clear and specific about your requests—if you say “I’m looking for $50k,” it might not be clear whether that’s all the money or just part of it. Finally, don’t be afraid to ask questions! If an employer doesn’t ask any questions, they probably don’t care too much about what they’re offering; if they do ask questions (or if they say this is up in the air), then it can work in your favor because now both parties have come together on something concrete: how much money we’ll spend here or how many hours/days per week we’ll spend there
Negotiating salary for an internship is important and can help you get paid more in the future too
Negotiating salary for an internship is important because it will help you get paid more in the future too. If you don’t do it, then you’ll be stuck making peanuts for your first full-time job. When I was looking for my first job after college, I didn’t negotiate at all and ended up with a lowball offer from a company that was willing to pay me $40,000 but had no other benefits or perks whatsoever. It took more than three years before I finally got enough experience under my belt that I could take my career into my own hands and start working independently as a freelancer (with some great benefits).
Asking questions like this shows the hiring manager that you’re serious about learning everything there is to know about them so they can trust that once hired as an employee there won’t be any surprises; if anything goes wrong during their internship period then there’s still time left over before starting full time work where they can find someone else who wants both experiences combined.”
Conclusion
We hope that our tips and general advice have given you a good idea of how to approach your internship negotiation. Remember that you are unique and deserve a salary specific to what you want out of your experience! Don’t be afraid to ask for the things you need, whether it’s benefits like healthcare or housing, more money than they originally offer, or even flex-time so that you can attend classes while working. Employers expect negotiations and will be willing to work with you if they see how valuable an addition you will be to their team. Please feel free to reach out with any questions—we’re always here for our readers!
