SALARY NEGOTIATION: HOW TO KNOW YOUR WORTH
Anshuman Kukreti
Anshuman is a professional writer and a keen follower of the global job market. An engineer by qualification and an artist at heart, he writes on various topics relating to employment across the globe. Currently he is working for Naukrigulf. Reach him @ LinkedIn
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Having aced every question with an impeccable response, you were confident to secure the job offer.
Yes, you deserve it! Especially after all those hours and efforts you’ve devoted to make it to the final round of interview. Your mind is beaming high with the ecstasy of starting your career as an employee in this organization. Suddenly, the interviewer pulls himself forward and throws an oddball- ‘How much salary are you expecting?’
And there you are, dumbfounded like never.
Obviously, you’re ought to be stuck in a dilemma. Give a number too low and you’ll lose out on a considerable amount, give a number too high and you’ll come across as somebody who’s delusional about the market.
So, what do you do?
Of course, answering this question requires some preparation as well.
Hence, the section to follow will seek to provide some tips regarding the same and help you to stay confident while negotiating over the remuneration you deserve.
Arm Yourself With Sufficient Knowledge: Before you enter the interview room, make sure that sufficient research about the industry and its remuneration trends has been conducted. Try and find out the average salaries in similar jobs, companies and area. Websites like salary.com, payscale.com, glassdoor.com, jobsearchintelligence.com etc. would prove quite handy in the same regard.
Having done ample research you can be more appropriate, instead of throwing figures which seem wayward from reality.
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Keep a Number in Mind: After undergoing the research required, you need to reach a number in your mind. Obviously, it’ll require awful load of accuracy to reach a single number, so go ahead with a salary range.Plus, providing a range would enable him to understand that you’re willing to compromise and negotiate.
Keep in mind that if you ask for a higher salary, you’ll be given a notch higher than what the recruiter originally offered.
Keep an Explanation Ready: It might be your skills or the fact that you were paid a certain amount by the previous employer, the number you throw has to be validated with a viable explanation. You can talk about your education, past achievements, skills and how you’re the perfect fit for this role.
Check on Shortchanging Yourself: Your eagerness to work for this company might entice you to fall for the bait, the employer keeps for you. Hiring managers always have a range in mind to have some space, in case the candidate wants to negotiate. Make sure that you exploit this fact in your favor.
Perks- Don’t Miss Out On Them: If the salary offered to you is a modicum lower than what you expected, but the company seems promising, feel free to talk about perks and entitlements like holidays, bonuses and the allowances you deserve. There are numerous firms in the business that offer a lower salary but are willing to provide additional holidays and other perks. Remember, these can add another 40% to your basic salary. So, you might not want to under value them.
Try and Be Amicable During the Whole Conversation: Yes you’re negotiating and there’s an equal chance of a difference of opinion, but you need not turn defensive and portray yourself negatively. Remember that the job is still half-done and you have to leave a positive impression. Sticking to the number you had in mind would surely show that you’re firm but demonstrating flexibility would make it evident that you’re a team player.
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Be Convincing, but not with Desk-Pounding Theatrics: Remember, that it’s your potential employer you’re negotiating with. If you want the salary you desire then be persuasive rather than being dramatic. Delicacy might enable the employer to form a high opinion regarding you.
You Can Always Take The Time You Need: It might just happen that everything goes haywire and you’re unable to answer on the spot. There’s no need to rush and utter a figure that sounds absurd.
Ask the employer whether you can get back to him in a while. If yes, then coming back and reaching a realistic figure that can take the burden of all your expenses is a worthwhile idea.
Take a chill pill!
To summarize, it’s all about the number you deserve, so with a relaxed mind negotiate confidently. Keep the above tips in mind and clear all the inhibitions you have. Everything will surely turn out to be great.
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