Most job seekers would like to know the best techniques for negotiating a good salary. Over 80 percent of job offers that prospective employees receive are open to negotiation; however, only a small percentage of prospective employees actually negotiate their salary.
There is nothing inappropriate about trying to get the best salary package possible for the hard work you will put into a new job. Here are a few tips you can use to make the negotiating process easier.
• Wait for the right time:
Do not go into a job interview thinking the first topic of discussion will be salary. The only time you can discuss salary is after you have been given an absolute offer. You have more bargaining power when a company has decided to hire you. Never put in an absolute salary number on the job application, otherwise, you will end up restricting yourself.
One of the dreaded interview questions for many is, what is your current salary?
Many large companies, including Amazon, banned asking this salary question in an interview.
• Know what you are worth:
Knowing how much you’re worth, in terms of the skills you possess, is important. Do your homework. It is your responsibility to know how much other organizations pay for a comparable position, with the same amount of experience. You can ask people in similar fields for their opinion, and the Internet is full of salary websites that calculate how much you should be getting paid. When you come to the negotiating table with your facts straight, you are more likely to get what you want. Check out some other companies’ ads to see what they are offering for the same or a related position.
• Be careful in your negotiation:
It is also essential that you understand what you mean to this company. Be mindful of how many other candidates applied for the same job. Supply and demand are the rules of the game here. If you know that there are many others waiting to snap up the job you want, you have to be more careful when negotiating your salary. Look at the amount your research shows you should be making compared to the amount they are offering. See if you can find some middle ground.
• Consider all the benefits:
When considering your salary, make sure you look at the entire compensation package the company is offering. When you put a dollar value on medical insurance, bonuses, and overtime, this will help you get a clear picture of your base salary. If you still do not like the numbers you are coming up with, let your prospective employer know how you feel and tell them why you should be paid more.
• Be realistic:
Being realistic about your salary is important. You have to figure out what your expenses are, what you need to earn to cover those expenses and what you would like to earn. This way, you will have a better handle on what you need in terms of salary. Ensure that you keep this information you have calculated to yourself. Employers do not care about your personal need to earn money every month, instead, they are interested in how you will benefit the company itself.
• Be polite:
To remain in high standing with the company be well mannered in your approach. Begin your salary negotiations with thanking the potential employer for their offer on the good position. When you remain positive throughout the process, you are more likely to get positive feedback. When you know your true value, you can negotiate with confidence.
What other negotiation techniques can you think of or have used before? Comment and share below! If you need additional help, reach out to Candace for assistance!