You’ve just finished dental school and are ready to take on the next step in your career. You know that you want to work as a dentist, but what about the salary? How do you negotiate a fair wage for yourself?
Maybe you have already been in the industry for a number of years and are looking for a raise. Whether you are new to the field or a seasoned professional, here are a few tips on how to negotiate your next dental salary.
Research the Market
Before you start negotiating your dental salary, it’s important to do your research. Know what the average salary is for your position in your area. You can find this information online or by speaking with other dental professionals. This will give you a good starting point when negotiating your salary. You can use websites like Stynt, Glassdoor, or Payscale to research salaries for similar positions.
Once you have a good idea of what the going rate is, you can start negotiating from a position of strength (but be sure to read the rest of our tips first). Remember, the key to successful negotiation is being prepared and knowing what you want. With a little research, you’ll be able to confidently negotiate the salary you deserve.
Know Your Worth
Many of us have been there. You're in the middle of a dental negotiation, and you suddenly realize that you have no idea what you're worth. How can you possibly know what to ask for if you don't even know what your skills are worth in the marketplace?
What are your unique skills and strengths? What experience do you have that sets you apart from other dental professionals? If you are unsure of what to say, take a look at your resume or CV. What accomplishments are you most proud of? What skills have you acquired over the years? These are the things that you need to highlight when negotiating your salary.
It’s also important to remember that your worth is not just about your skills and experience. It’s also about the value you bring to the company. Are you a team player? Are you always willing to go the extra mile? Do you have a positive attitude? Think about the intangible qualities that you bring to the table and be sure to highlight them when negotiating your salary.
Don’t Be Afraid to Walk Away
One of the most important things to remember when negotiating your salary is that you should never be afraid to walk away. If the company you are talking to is not willing to meet your salary demands, then it’s probably not the right company for you. There are likely plenty of other dental practices out there that would be happy to have you on board.
It’s also important to remember that you can always negotiate later. If you really want to work for a particular company but they are not willing to meet your salary demands, you can always start with a lower salary and then negotiate for a raise after you’ve been with the company for a while.
This allows you to prove your worth to the company and then start earning the salary you deserve. However, this can be risky because there is no guarantee that the company will give you a raise down the road.
Leverage Your Current Position By Finding Offers From Other Practices
If you are currently employed, you have a lot of leverage when it comes to negotiating your salary. Your current employer knows that if they don’t meet your demands, there’s a good chance you will leave and take your skills elsewhere.
To increase your leverage even further, you can start by finding offers from other practices. This will show your current employer that you are serious about leaving and that you have other options. If you are able to find a job offer that meets your salary demands, you can use this as leverage in your negotiations.
Be Prepared to Compromise
While it’s important to know your worth and be prepared to walk away, you also need to be prepared to compromise. In most cases, the company you are negotiating with will also have its own set of demands. If you want to reach an agreement, you need to be prepared to give and take.
For example, you may be willing to accept a lower salary if the company is willing to offer other perks, such as a sign-on bonus, more vacation days, or flexible hours. Alternatively, you may be able to negotiate for a higher salary if you are willing to take on more responsibilities.
The key is to find a middle ground that both parties can be happy with. And remember, never negotiate over the phone.
Negotiating your dental salary can be a difficult and daunting task. However, by following the tips above, you can be sure that you are getting the salary you deserve.
Stynt is the leading online dental job board, connecting dentists with top jobs across the country. So if you’re looking for a new job in the dental industry, you’ve come to the right place.