One of the mandatory questions that you have to face in a job interview is ‘What is your expected salary?’ When you feel you have landed the job with your impressive resume, and conveyed your specialized skills, do not fear to negotiate the salary. However, if you are aware of the competition in your industry, do not go beyond the limit while negotiating salary.
The worst mistake that you may make while negotiating the salary offer is not being prepared for the discussion.
Here are some tips that can help you negotiate your salary offer tactfully without fearing to leave the job if it is not offering what you deserve.
Survey the industry standard salary
Putting forward a number without proper research can make you look like a fool. The first thing to do to prepare for salary negotiation is to know the compensation trends in your industry.
Do not overlook the experience attached to such salaries. You must also research if your profession is one of the in-demand or critical professions right now. Moreover, you must ensure that your research is based on the geographical area of the job.
Knowledge about salary trends automatically boosts your confidence to negotiate salary.
Look into the additional benefits
A job is not all about salary. Vacations, working hours, allowances are part and parcel with salary. Moreover, there are health insurance coverage’s and post-retirement plans that are provided by some employers.
Therefore, you must keep the additional benefits in mind while negotiating salary. Most importantly, assess the importance of the job in your career and the prospect of the job. In most cases, you may not land with the desired starting salary, but there can be increments in the line.
Know where to stop
Even though salary negotiation is on the table, do not stretch the discussion if the employer is not responding positively. You must know when to wrap up the discussion. If you could not convince the hiring manager, instead of stretching the discussion, respectfully withdraw and leave.
In this way, you do not need to start off a new journey at a sour note with your manager, and you can focus on opportunities that offer you the compensation you deserve.
Always Settle in Writing
If you have successfully negotiated with the salary and additional benefits, make sure to ask documentation of the same. Some employers may hand you the standard employment contract.
In that case, take a closer look not only at the salary amount but also allowances, vacations, work from home schedules and other promised benefits. In case they do not have a ready contract, ask for informal documentation of the settlement.
Don’t propose numbers without justifying
If you are negotiating a salary, do not state a higher number first. Highlight your track record, emphasize your specialized skills and most importantly tell them how your skills can help the organization to grow.
Once you have built your case, you can now state a number that you deserve as a salary. Proposing out a higher salary amount without justification can imprint a negative impression on your employers.
Don’t go over the boundary
You must estimate your skill and experience and then negotiate the salary. Stretching a salary discussion for an irrational number can actually be a foolish move. Better stick to the truth when it comes to salary from the previous job or any competing job offer. Bluffing for a higher salary may lead you to a greater fall.
Don’t show up unprepared
Preparing for the interview is important if you want to negotiate your salary successfully. You may opt for mock interviews to prepare yourself for every question that can come from the other side of the table. Eliminating surprises in the interview ensures a more confident salary negotiation.
Don’t start off on a wrong foot
Your hiring manager may or may not be open to salary negotiation. Therefore, if you have already negotiated and settled for the job, make sure you make the discussion end on a positive note.
A sour interview may lead to hurdles in your job. Therefore, always remember to turn the equation into a positive one before leaving the interview room.
Salary negotiation can be an unsettling situation that a candidate would like to avoid. However, it is necessary to speak up if you want to settle in for the job with satisfaction. After the pandemic, the crisis of employment has further laid down the spirit of salary negotiation.
But if you are confident about the deserved salary, you must not fear leaving a job offer that does not meet your requirements. Salary negotiation can be a piece of cake if you have done your homework and placed your demands with tactics and confidence.
Do visit Pragna Technologies website for more blogs regarding RPO, Offshore Recruiting Services, Staffing and Hiring.