5 Secrets How to Negotiate Salary
Simply planning correctly for a job interview is not enough; you also want to consider salary negotiation techniques before heading out for an interview. First, you want to show your convincing skills in the letter. Be convincing enough, such that the potential employer instantly picks up the phone to make an interview appointment with you. Then the art of getting the best salary possible, directly relative to the responsibility of the position that an applicant is seeking. If you are about to face a job interview in an organization you want to work in, it is rather important for you to learn the art of negotiating salary. By learning this significant art, you can assure yourself of a good pay package from the very start of your job in a selected company. You need not wait for performance appraisals which traditionally rely on your productivity and results. The pay package is the most important thing that both the candidate and the employer are interested in. The candidate will try his/her best to enhance his/her pay, while the employer will test to offer the candidate the lowest salary but with the same job duties.
Conduct Salary Research
A person who has carried out salary search is more likely to do well in negotiations than one who is not aware of his/her salary range. For the purpose of negotiating the best salary possible, it is important to conduct a thorough salary search to decide what the accepted pay is for executives with similar experience and education in the same field. The search like this could successfully enable potential candidates to assess what the lowest and highest pay packages are. It would also enable them to put forward a demand for an appropriate salary range during negotiations. The salary range may basically depend on the state you are working in, or the state you intend to work in. If you get a job in a big well known company, you are more likely to get a good pay package. The factors to consider for evaluating salary ranges are the job description, type of business, size of the company, location of the company, the candidate‘s educational status, and most importantly, the work experience.
Gain Few Job Offers
To enhance your leverage to ask for the better salary, you need to have in hand some good job offers which may seem competitive to the job you are intending to get. It is regarded that having few job offers in hand not only brings applicants a chance to practice salary negotiation with various organizations, but also gives the candidate a certain amount of security and confidence in asking for a higher salary. Holding job offers related to the position you are applying for, gives you the benefit to bargain a salary which deserves and based on to your abilities and capabilities. Having several job offers also allows you to negotiate salary with a number of different companies, and choose the place which provides the best pay package. Employers tend to offer you less salary if they come to know that you do not have any other job offers, and this is your only chance of getting a job.
Place Yourself as a Beneficial Candidate
To increase your salary negotiation skills, you want to place yourself as a useful and ‘absolutely needed’ candidate, which any possible company will not want to let go. Your exceptional value and worth might be shown to the employer via your resume, the way you perform in the interview, your dressing style, preparation of the possible company’s information, and of course, your skill set and experience.
Correct Time for Negotiation
You should try to prevent premature commencement of salary discussion. You must start the discussion only after the interviewer asks about your requirements and expectations. If you mention the salary factor earlier than necessary, you may be opted out by speaking regarding money too soon. You should let the interviewer take the first step, and then you can continue with the conversation. Many times, it is difficult not to talk about the salary range, particularly when questioned about your history and expectations. Just remember that the sooner you start negotiating a salary in an interview, the lesser are your chances for succeeding in the salary discussion.
Offered Salary Considerations
Do not underestimate your value and take what is given, even if you need the job desperately and have no other alternative. Hold off such eager actions, since even the best offers need to be correctly considered. That being said, you must also never decline offers immediately when the salary is a lot lower than what you expected. It is advised to ask for some time to think on the matter before declining the offer. Moreover, many employers would give you some time to think about the salary they are offering and the salary which you believe to receive. If the offered salary is very low, you do not have any choice than to decline the offer. However, if the salary offered is satisfactory but not as per your potential, you need to keep in mind the other advantages that would come along with the pay package.