Salary is an essential feature for the candidate to decide if they would like to take up the offered job or not. No one desires to accept the job offer that is lower than his or her worth with no business would want to pay more than its allotted funds. Thus, this results in a predicament where salary/wages negotiation becomes nerve-racking and tricky. Do not forget, salary negotiation is how well you convey your value, your expertise and benefits to the organization in exchange for the position, wage remuneration, and perks. You must convince the employer that you will be an advantage for them if you are certain you want the job along with the desired wages. |
Achieve the win-win situation with following 6 salary negotiation tips
1. Be Confident about yourself
When an employer makes you a job offer, then it is a sign that they surely want you. This should not lead one to become a smug. Embrace the right approach and make use of the opportunity to request a salary that is at par with your skills and experience. In such event, you need to highlight your skills and quantify it about increased efficacy, costs savings and overall contribution to an enterprise. This gives the organization an opportunity to be aware of your benefits and support your salary negotiation session.
2. Be well prepared with your research
Primarily, a candidate must first understand the salary structure of an organization where they are applying for a job. Hence, a thorough research must be conducted by candidates on what employees in other firms are getting on same experience and position and survey industry average.
3. Gather as much information about prospective employer as possible
Never make an application without doing an exhaustive research on a prospective employer. Employer review sites supply candidates with a platform to study the organization they are applying for. Applicants can review what other employees say about - company's work culture, job opportunities, salary, benefits and employee morale, etc. Such information gives a clearer image to the candidate if the selected organization is the right choice for their career growth and what to expect from their prospective employer.
4. Be perceptive on salary range
Before diving right into a salary negotiation, it is exceedingly recommended that you simply need to be clear in your mind of what you need to walk away with after the interview session. It is also wise to examine your previous salary package, add the percent increase that you would need and determine the limits of your salary range besides investing time in market research. Quote your wages more than your expectations as the prospective company might not be prepared to give in to your demands, and be adaptive. Nevertheless, think twice before accepting a salary that falls below your specified limits.
5. Smartly evaluate the total salary package
You should always evaluate your comprehensive package that is being offered to you and ensure the salary offered to you is higher than your previous salary remuneration. Remember, if an employer is not ready to increase your in-hand wages, then you always have a scope to negotiate on extra benefits like the – signing bonus, car, house rental, laptop and paid vacations, etc.
6. Do not be hasty in making your final decision
Above mentioned 5 key points are there to assist you in carrying out an effective salary negotiation. However, this does not imply that you make hasty decisions. Always, think about your offered overall salary package from the 360-degree point of view.
Besides excellent salary package, there are other benefits and job satisfaction elements that you should keep in mind before accepting or rejecting the offer.
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