When you begin your search for a job as a new grad nurse practitioner or even as an established nurse practitioner looking for something new, it is very important you pay attention to the salary that is listed in a job posting. The salaries posted show you a glimpse of how desperate the employer is and how much they are willing to negotiate.
Knowing this information is the first step in the negotiation process. You can utilize this posted information to your advantage before you even have the interview!
This is an excerpt from the new eBook “The Elite Nurse Practitioner Model” that details job negotiation and what the posted salary information means:
“Every nurse practitioner in this country should have some basic negotiation skills under their belt. This will not only assist you with getting that perfect job but it also helps you in your business and personal life. Negotiation is a part of life. We live in a society where services and goods are exchanged on a daily basis. Know how to negotiate!
The main principle of negotiation that you need to understand is this:
The first person to throw an offer on the table is the one who sets the negotiation starting point.
If you are selling an item and state a price first during the negotiation, then you can either low ball yourself or put off potential buyers because you overvalued it. You set the starting point of the negotiation. The same goes for a new job.
You have to be firm during the negotiation. You need to develop an apathetic mindset during negotiations of any type. Don’t be desperate, if you are this will bleed through to the other person and will weaken your argument. Go into a negotiation with an “I don’t care what happens” mentality. It will pay off! This mentality exudes confidence and if you have the clinical experience to back it up, an employer wouldn’t have an issue giving you a handsome compensation package.
When you begin your job search, sometimes there will be a salary listed on the job posting. If this is the case, then usually it will be difficult to negotiate the salary because the employer created the set point. On the other hand, if the salary is within a range, then they are willing to negotiate up to the highest point comfortably. Remember this.
Other times there will be no salary listed on the job posting. This is usually a good sign. They are looking for talented individuals to state their prices. This means you can blow their socks off during the interview and then ask for a ridiculous amount of money. You set the starting point!
Therefore, there are 3 salary possibilities when looking for a job:
- The job lists a stagnant number for the salary such as $95,000
- The job lists a salary range such as $95,000-$120,000
- The job does not list a salary.
So, what do you do in each of the above scenarios in terms of salary negotiation?
- If there is a stagnant number listed in the job posting, typically this will be a government or community health center type position. These jobs have strict budgets given to them by governmental bureaucrats. There is little room for negotiation. The main advantage these jobs have is that there is little accountability and liability to them. You can see 5 patients a day or 20… It doesn’t make a difference. Another advantage is the pension and benefits associated with them. Other than that, your salary will typically be on the low end. If benefits and a relatively easy job with low liability appeal to you then these are the positions you might want to apply for.
- If the job lists a salary range then the employer is willing to negotiate up to the highest point, possibly more. These jobs will usually be private employers, but occasionally governmental jobs will have ranges. If it is a government job, then the top is the top. If it is a private employer, then there could be some additional room for negotiation. Always ask for $10,000 more of the top of that range. Remember, you set the starting point!
- If there is no salary listed, then the employer is open to offers and is likely a little more on the desperate side. This is good for you! Apply for the job, blow their socks off during the interview by exuding confidence and knowledge, and ask for a ridiculous compensation package. Start by asking for $120,000 a year with production and full benefits. You might be surprised with what they agree with.
TIP: The worst-case scenario during a job negotiation is that they will say no! They will not stop the negotiation right on the spot. Do not fear you will lose the opportunity because you asked for too much. Be on the more aggressive side! With anything in life, be on the aggressive side!“
Negotiating a salary after you have successfully completed the job interview is the most important part of the entire hiring process. Analyze the posted salary before the interview, you will understand the dynamics of the position and the employer. This will benefit you greatly.
As a nurse practitioner, you must understand your worth. Like I have said before, you are worth far more than you think! Do not settle on piss poor salaries! Did you know that salaries have actually DECREASED in many areas over the past decade due to market saturation? It is because to many nurse practitioners undervalue themselves and do not understand negotiation dynamics.
Don’t be like everyone else! Value yourself and what you bring to the table! When you settle for $80,000 a year, you not only do a disservice to yourself, but also every other nurse practitioner in the region. Physicians and administrators then begin to take advantage of hard working nurse practitioners more and more. This should piss you off and motivate you to change it! It certainly did for me!
If you are wanting to stay out or break out of the current practice environment, the eBook “The Elite Nurse Practitioner Model” will guide you on how to do so. By following the advice in this book, I guarantee you will increase your professional freedom and financial independence by leaps and bounds.
The book will be officially released February 1st but there is currently a pre-release special. If you order by February 1st, you can purchase the book at the discounted rate of $47.97 and you will receive a free eBook on how to market a side practice! I offer a full money back guarantee if this book does not benefit your life. Please CLICK HERE to order now!