TIPS ON HOW TO NEGOTIATE YOUR SALARY

You have just received a new job offer that you have been yearning for, but something is not right, the salary you are being paid is lower than you deserve. You are humbly asking for any flexibilities, but your boss responds in a manner that is not pleasing, “This job isn’t all about money. Are you saying you won’t take the job unless we increase the pay?” In such a case what will you do?

Negotiating a new job offer can be emblematic and very uncomfortable to that matter. You should remember that this is the best chance you have to negotiate your salary and also better the conditions of your new job.

Once you pen down the legal documents and accept the job and you have not yet negotiated your salary, you lose your leveraging power.

There is nothing that is not negotiable. Before you attend your first interview, you should be aware of what you want from your new job, what conditions will favor you to perform to the maximum and also have the necessary documents e.g. personal CVs, recommendations, etc.

Research, the company you have received the job offer from so that you can understand them even better. This is because different companies have different ways of operation, they have diverse ideas on what they are willing to negotiate and what they are not.

Apart from salary, many things are negotiable, for example:

  • Job title
  • Level of authority
  • Start date
  • Signing bonuses and many others

Statistics

44% of total employees occasionally negotiate salary

37% always negotiate wages.

18% of nearly one fifth of employees never negotiate their salaries at all. Survey displays that those employees who don’t negotiate their salaries stand to miss almost $500,000 by age 60.

12% of some prefer to negotiate their salaries during annual reviews while 44% decide not to bring up such an idea.

48% of employees say they always feel apprehensive to negotiate their wages.13% don’t feel anxious when negotiating salaries.39 % at times don’t feel different.

Execute a thorough research before the interview

The essence of you doing research is because you will have the necessary knowledge you require about that particular institution, especially salary ranges. Make sure you get the appropriate details regarding the company’s culture and benefits, this way you will be aware of what you are searching.

Do a research during the interview

You can try dig information from the employees working there and get to know what items tend to be negotiated. Pay attention to what the manager has to say about your salary as this is the first issue that is discussed. If the company is not willing to increase your salary, then opt to gain more benefits that equal your salary.

When do you start negotiating?

Before you negotiate first receive an offer. This is because you may forget and ask for more money, which is normal, but this will eliminate you as a candidate. First get to know the figure that the company offers, it may be in the form of a statement or verbal, it depends.

Once you are given the offer, you have the leverage power. Don’t forget to Show enthusiasm about the offer. Getting an offer is an advantage, it means that the company is interested in your services.

Also, be prepared for difficult questions

Company’s authorities tend to ask tough questions which you may end up answering something wrong or even worse. The reason as to why they ask such questions is to expose your weaknesses, make you feel uncomfortable and always finding yourself on the defensive side. Be prepared and be honest in every question you are asked because you never know, it may hurt you in the future and end up regretting.

Negotiate the offer

If the company chose you as the first candidate, then it’s willing to negotiate your salary. Don’t fear to speak your heart out since salary negotiation is still a hiring process. The manager can’t call off the offer because you didn’t agree with their first offer. If you are being offered a top position in the company you have no option, negotiating your salary will be mandatory. Also, don’t forget to mention all other items that will involve your services in the company.

 Other tips that you should employ during Salary negotiation

  • Ensure you are versed with the right authorities when negotiating your salary. Get to know the right administrator with whom you will consult.
  • Always be the type that will wait for the manager’s response. State your salary figure and all the items that you desire then wait for the answer.
  • Exchange thoughts and negotiate don’t make demands. This is a sign of honor and respect to your new manager who is also your authority. Where you feel you are not satisfied, ask a question.
  • Always be ready to walk away. If the manager doesn’t offer a good salary that meets your expectations you can as well leave. It won’t make sense if you accept an offer that you are not comfortable with, an offer that won’t meet your financial needs, at the end of the day you will be so bitter about yourself for accepting an offer that is low.
  • Don’t mention your wants and requirements. Applying your emotions during negotiation is not recommendable rather use your energy to explain how your services will benefit the company.
  • Your values in the business are crucial. Your skills and services are essential to ensure the company prospers. Be confident and boldly remind them of the various issues you will solve once they pay you well. The company is also considerate, they can’t let go of you that easily since they have invested in the process and they wouldn’t want to have a fresh start.
  • Dress appropriately; formal wear will do. Be positive and smile all through. Smiling is a sign that you are happy about the whole process and also shows you are capable of handling stress and too much pressure from work.
  • Research and be updated with whatever the business is up to especially concerning your offer e.g. it can make exceptions in vacation policy this way you can benefit from that.
  • Finally when everything is said and settled comfortably pen down the agreed terms before you report to work.

Conclusion

Your salary is very crucial, negotiate without fear. Businesses also expect that when they offer you a job you should be able to negotiate.

Resources

https://hbr.org/2014/04/15-rules-for-negotiating-a-job-offer

http://www.salary.com/most-people-don-t-negotiate-due-to-fear-lack-of-skills/slide/4/

http://www.salary.com/most-people-don-t-negotiate-due-to-fear-lack-of-skills/slide/3/