How to Successfully Negotiate Your Salary
'You reach a point when you don't work for money' goes a famous saying by Walt Disney. However, until you reach that point you do work for money, right? Though money is not everything in a career, you cannot deny its importance and need in your life. Along with your career growth, you also need to grow economically to improve your standard of living.
It is clear for everyone that one of the most common topics of concern for the employees is their salary. No matter if they are recent grads or in the prime of their career, applicants are concerned on how much money they will make? How much money to ask for? What salary to expect? The most important thing that has to be mentioned here is that most people do not know how to negotiate their salary. Below are some tips that will help you to successfully negotiate your salary.
Make sure that before you go to the interview, you prepare yourself and you have a salary number in mind. The salary number can be built based on a research for the salary in your field of interest, your position or your work experience. Also, consider how valuable you are and compare it with the salary the company is offering. The candidate should not be afraid to negotiate his/her salary, especially if they feel they are underpaid or if they feel that they deserve more.
One of the most important things the candidate has to know is not to start the salary negotiation. This is because the person who starts the negotiation establishes the range. For example, if the candidate gives a number, the employer either tells the candidate that they ask for too much or they say that it is the amount that he/she was going to offer. There can also appear the situation when the candidate offers lesser than what the interviewer had in mind and probably gets it.
That is why hiring managers want the candidate to be the first who discloses his/her pay requirements. If the interviewer asks about the salary, the applicant can answer him/her in the following manner: "how much would you offer to a person working for that position" or "I would like to make as much as other employees with my qualifications". After establishing a number, the candidate can either accept the offer or continue negotiating until reaches a consent with the employer.
The candidate has to negotiate after receiving an offer in writing. For example, the employer does not mention the bonus part or the applicant forgets about the benefits. Also, if the candidate does not ask for the written salary offer he/she might negotiate a higher base salary but, he/she can lose other benefits. Benefits like pension or health insurance also have to be presented and negotiated at the interview. You have to know that you can accept a less salary value, as the value is increased by other benefits. The candidate can take a day or two to think and to make a counter offer, after receiving the final offer of the employer.
In order to successfully negotiate the salary, the candidate should research the average pay range for his/her job. He/she can search this information in salary surveys online or in journals; the applicant can find the top of the salary range and can ask for that. If the employers state that the candidate is asking for too much they can show the hiring managers his research results and then demonstrate why they deserves the top of the range. The tips and pointers mentioned above will definitely help the applicant to successfully negotiate his salary and to make the most of it.
Some people think that negotiating salary is not ethical or looks like a cheap bargain. But it is not. It is your right that you are asking for. So do not have any misconceptions regarding it. Go ahead and grab your rights.