Today I would like to talk about an extremely important topic which many of us would like to learn. I am presenting “10 tips on How to negotiate salary” with your potential employer. Guys this is an important skill which one needs to learn to ask to ensure one gets what one deserves.
But Why to learn “10 tips on How to negotiate Salary”
Many of you would be thinking that negotiating salary with the employer often jeopardizes the job offer or maybe put you in the wrong books. But believe me not negotiating will cost you dearly and may put your career growth a few years back.
As per research, 50% of people have never tried to negotiate with the salary offer they received. 10 % did not know how to negotiate it. Rest either they were content with the offer or didn’t want to risk their jobs.
But shouldn’t one receive the salary as per his capabilities, skill, and experience? Is asking what one deserves is a crime? Who does not love to have more money at his disposal? Then why not to negotiate.
I will list out 10 Tips on how to negotiate salary with your employer so that next time you are on your path of growth for better living.
10 tips on How to negotiate Salary
- Have Patience – You know you had a great interview. The interviewer has in fact said that you will be hired. Now you have to keep patience. Do not bring up the salary numbers with the interviewer first. Let the hiring team ask you first about it. Talking first about salary with the potential employer creates an impression that the candidate is too greedy.
- Avoid giving the first number – If asked by the hiring team for your salary expectations, inform them that you are open to discuss on salary. Before giving any number, you can ask for more details about the compensation package, position and overall responsibilities to give you a fair idea about the job.
- Research – If the offer has been rolled to you basis standards/position of the organisation, then I will recommend you guys to do research before saying anything. Check out what is the industry paying to people with similar experiences, qualifications and skills as yours. You can check out research in job portals like Naukri.com, Indeed, Monster, etc. This will give you a fair idea, whether the offer is really acceptable or you need to negotiate.
- Check within your circle- Apart from doing research, check out with your friends/relatives or people who are in a similar position which you intend to go. Not only that if you like the offer, try to check the organisation’s record of appraisal and cash-paying ability to avoid any regret in the future. You can also check employees of the incumbent organisation in LinkedIn to get a first-hand review.
- Careful Analyse the offer– Before going for negotiation, I would suggest reading between the lines of the offer. Sometimes a company providing below par salary offers some benefits which could be beneficial in long run. E.g an organisation office is near to your residence thus saving your valuable time of travel, some organisation offer stock options which could be of great value in the future, etc.
- Quote range – If you want to negotiate the salary with the potential employer then give them the range between you would like to receive as salary. This not only gives the idea to the prospective employer about your aspirations but also gives a room of flexibility to the organisation.
- Provide an explanation – Once you have quoted your numbers/range, it is highly probable then the employer might ask justification. You should be able to justify the salary you are expecting in your job. Remember this is an opportunity to showcase your skills, talent and experience. Also, don’t be shy to inform the hiring manager how you have the potential to contribute to the company’s success and growth.
- Take your time – When you have the offer or there is a counter offer, its not necessary to accept or reject it right away. You can always ask some time from the hiring manager to think over it. It’s better to think and act rather than Act then think. Also if the hiring manager thinks that you are a good fit, then he might raise his offer till the time you decide. But be precise about the time for your decision to avoid any loss of offer.
- Don’t be afraid to reject the offer– If you have some doubts or have a mixed feeling about the job then don’t be afraid to say no. Sometimes accepting the offer below what you deserve can be detrimental to your career. Because there is always uncertainty about the next appraisal. Also, a lower current salary might affect your bargaining power in your future jobs.
- Be Humble during the process– Its always great to ask for what you deserve but nobody likes to converse with someone who is adamant and unfair. Always express gratitude for the offer but put your point across politely. At times it can be exasperating to not get the deserved offer but be patient. And always mark your words before speaking because that creates an impression on the hiring manager. Do make sure you respond at the given time in case you have requested to give a thought to the offer.
There is always a possibility that the Employer might not budge with his offer as the offer was based on the company standards. Also providing someone with a higher salary might create inequalities within the department of the organization. In that case, there are 2 possibilities
- You need to reject the offer politely. It might not feel good immediately but you know that atleast you tried to get what you deserve for. This will help you to boost confidence then someone is there to offer you the job and you have the skills to switchover. Might be better luck next time with some other employer
- You might accept the job because the job profile, company, and perks associated with the work really mattered to you. Also, this job can open endless opportunities for you to experiment with the profile as well as skill up-gradation.
What you choose from above is your personal choice but always try to develop skills which not only enhance your functional skills but also your negotiating skills.
Hope this article was informative and might help you in negotiating your salary. So next time when you get offer from another job, don’t forget to check this article “10 tips on How to negotiate salary”
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