Salary is an essential factor for you to consider when deciding whether or not to accept a job offer. No one wants to take an offer less than their value, and no company wants to pay more than the budget allows. As a result, salary negotiations become nerve-wracking and challenging.
Remember that salary negotiation is about how well you communicate your worth, skills, and benefits to a company in return for the job, pay, and benefits you want. If you are sure you like the work and just need the proper pay, you must persuade the employer that you would benefit them.
Use these negotiating tips to get a win-win.
1. Have Belief in Yourself
When an employer gives you a job offer, that means they have decided you are the person who can do the job and they want you to work for their company. Take advantage of this to request a salary that is commensurate with your qualifications and experience . Highlight your benefits, measure them in terms of improved effectiveness, cost savings, and overall contribution to the business. This reminds them of the benefits you bring and helps you in your compensation negotiation.
2. Do your homework ahead of time.
First and foremost, you must understand the wage structure of the company you will be joining. Conduct extensive research into what other firms’ workers are earning for similar experience and positions, as well as identifying the industry average.
3. Gather as much information as possible about the prospective employer.
Never apply for a job without first conducting thorough research on the business. Candidate review sites give you a way to learn more about the firm. Read what current and former workers have to say about the work culture, employment prospects, pay, benefits, and employee morale, among other things. This will help you determine if this company is the best fit for your career development and what to expect from joining.
4. Be aware of pay ranges.
And want Until diving into a wage negotiation, I recommend that you have a good picture in your mind of what you need to walk away with after the interview. Aside from market analysis, it’s a good idea to look at your previous compensation (salary, bonus, benefits, commission), calculate the percent increase you’ll need, and figure out the upper and lower limits of your salary range. Quote a higher salary than you anticipate because the prospective employer may not be willing to meet your demands, and be flexible. However, think twice before accepting a salary that falls short of your expectations.
5. Analyze the total compensation plan.
Always consider the total package that is being offered and make sure that the package including salary is better than your previous remuneration. Remember that if an employer is unable to raise your salary, you can still negotiate on additional benefits such as a signing bonus, car, house rental, laptop, gym membership and paid vacations among other things.
6. Take time before making your final decision, particularly if you’re thinking of turning it down.
The first five points will help you conduct a successful salary negotiation. I include deciding to turn down an offer as being a successful negotiation.This does not, however, mean that you make a hasty decision. Examine the total compensation package you’ve been given first before making a decision. Remember, there are always people around you who you can ask for advice. They may be able to see things that you aren’t and, thus, avoid having your blind spots cost you to make a poor decision.
ABOUT JEFF ALTMAN, THE BIG GAME HUNTER
Jeff Altman, The Big Game Hunter is a coach who worked as a recruiter for what seems like one hundred years. His work involves career coaching, as well as executive job search coaching, job coaching, and interview coaching. He is the host of “No BS Job Search Advice Radio,” the #1 podcast in iTunes for job search with more than 2100 episodes.
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