As a candidate, walking into a job interview is all about focusing on the right things. You carry good conduct, provide the right answers and impress the interviewers. What comes next is something that not every candidate prepares for – Salary Negotiation. After the completion of various interview stages, you will have to negotiate the terms for the salary that matches your experience, education and skillsets.
We have compiled the best tips that you can use to hone your negotiation skills and take home a salary that you dream and deserve.
1. What value do you bring to the table?
Before entering into the salary negotiation process, you should know how much value will you add to the job. Sometimes, a salary that is justified right with believable anchor points can help the employer see the reason they need to pay you the asking salary. The factors you should consider as a part of value are
- The years of experience
- Leadership quality with statistics of successful projects undertaken
- Education, skills and certifications completed
- Where you currently stand in the career graph
Stressing on these factors can help you justify the salary you are asking for and push the employer to agree.
2. The average salary in the job market
Negotiations with supporting data from the current industry can be really helpful. Try to find out what is the salary that is being drawn by people who hold similar positions as the job you are applying for. Also, get an estimate of the national average salary for the position and a list of top organisations that are paying it to their employees for similar posts. Do remember to:
- Touch this topic with subtlety to not instigate the interviewer
- Use statistics from the market that the organisation belongs to
- Do not state names of a particular organisation or person as an example
- Not use other offers you have and compare them directly
3. Ask more, you shall receive a little less
No employer will pay you directly what you have asked for, except in certain cases. This is why the process of salary negotiation is an important process during hiring. The most common way to get your expected salary is to ask for a little higher. It’s a good way to allow the employers to negotiate and bring your amount down that was your actual envisioned salary.
4. Additional expenses
Another aspect you need to consider while salary negotiation is the extra expenditure you will incur after taking up this job. This will include travel expenses and even relocation expenses. This is where you can justify a part of your salary as a way to bear the cost of the expense that comes with the new job. Never hesitate to share these expenses but at the same time do not get stuck on justifying them too much.
5. Confidence is the key
Enter salary negotiations with confidence and talk about your point of view with a positive frame of mind and body language. Few things to keep in mind are:
- Carrying a positive body language that seems open for discussion
- Talk freely and with respect during the negotiation process
- Be polite and listen to the employer’s justification for the salary they are offering
Lastly, remember that if the offer doesn’t seem to be working for you, let go of it. Do not be afraid to walk away from the job if you feel the salary offered doesn’t justify your abilities. But do tell them employers about how you would have loved to work here and still looking forward to in case they are up for a renegotiation and a better offer.
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