Congratulations! You made it to your dream job. You must be proud of yourself, right? But what about the salary, are you satisfied with it?
An authentic survey shows that only 37% of people take a stand and negotiate their salaries. The worst part is that 44% of the people never negotiate nor ask for a raise during their work and 18% of the people are okay with whatever they are getting.
So, what’s the reason why are people not asking for what they deserve? The answer is they don’t know their worth or are scared to ask for or simply they don’t know how to negotiate.
When a recruiter congratulates you by offering you a job letter they usually mention all the packages and compensation on the offer letter or tell you verbally along with the proposed salary. If you think the offered salary doesn’t align with your skills, qualifications, and experience you must negotiate for more. You can ask for more in any form it could be money or any other compensation like fuel allowance, medical, or additional perks such as extra vacation leaves.
But the question is how to negotiate without being afraid.
Think about someone confident enough to negotiate and get a $200,000 salary but you are getting only $150,000 although you both have the same job duties still they are getting paid more because of their excellent negotiation skills.
It is the time to learn how to negotiate. Below, you will detailed guide in which we have mentioned expert tips that will help you to negotiate your salary and get what you desire and deserve.
Effective Tips To Prepare For Salary Negotiation
Curious to know what are some tips and tricks that will assist you in getting your dream pay? Let us not keep you waiting anymore and begin with important techniques. Also, your CV is crucial in landing your dream job make sure you have done your CV writing in the right way and according to the trending formats.
Know Your Worth
Start by evaluating yourself. Firstly it is important to know what you have to offer them. Various factors can strongly influence the negotiation process such as:
Geographic Region
Consider the geographic location where you live in work. Countries or cities that are expensive to live in offer higher salaries to their employees.
Your Working Experience
If you are experienced more than the employers requirement its a sign to demand for more.
Leadership Skills And Experience
Having leadership skills and experience is a plus point. Employees who have led teams in their experience get paid more.
Qualification Level
Having a relevant PhD, master’s, and bachelor’s degree can positively influence your compensation.
Highly Relevant Skills
Possessing relevant skills helps in attracting higher salaries. If you have good skills you can demand your desired pay.
Extra Certifications
To request the greatest compensation it is best to have extra certifications. Additional certifications mean you have extra skills and expertise that will help the organization to foster.
Search For The Average Salaries In The Market
The first and most important thing you have to do after getting an interview call is to search for the average salaries in the market. Look what other organizations are offering their employees doing the same role. This will help you to know what others are getting in this specific role and you can demand accordingly.
Prepare Your Negotiation Notes
The best thing you can do before talking about the salary compensation is to prepare some notes. When you are asking for higher pay make sure you have solid justifications for it and why should the company pay you more. You can provide a relevant experience of how with your expertise you helped the business to boost their sales or recognition. Other than income you can negotiate for extra perks. Make sure you have good reasons before asking for anything.
Talk With Confidence
Talking with confidence is another crucial technique. The more confidently you ask for compensation the more recruiters will consider you. Lack of confidence may result in expressing regret or over-explaining things, neither of which is helpful in the process of negotiation.
Confidence is what appreciate our qualities and abilities. But remember not to confuse confidence with exaggeration and arrogance. Being arrogant and overconfident leaves a negative impression. Instead, briefly present your points with simplicity and confidence.
Be Highly Flexible
Even if the employer cannot offer you the desired pay ask them to provide you some other compensations. For example: you ask for extra paid leaves, rent, and fuel allowance, allowing you to work from home sometimes, etc. Get prepared to ask for other alternatives if the employer is not ready to increase the pay because alternative options are the same as a paycheck. Also, to create an unforgettable impression on the recruiter you can submit a cover letter along with your resume. This document tells more about you in detail and explains to the recruiter why you are a perfect fit for the role.
Frequently Asked Questions
- What is the best way to negotiate salary expectations?
Here are some effective tips that will help you in negotiating your salary.
- Pay attention to the job description.
- Take the advertising salary into consideration.
- Come up with a market-competitive salary range.
- Prepare strong points for negotiation.
- Be respectful when negotiating.
2. How to respond during a salary negotiation?
Here is the step list that will help you respond to the low salary offer
- Ask for some extra time.
- Research for the other organization’s salary offerings.
- Prepare a plan.
- Practice well before negotiation.
- Show some enthusiasm.
- Don’t forget to discuss early performance bonuses and reviews.
- Focus on your expertise and skills.
3. How much margin can I keep when negotiating for a salary?
It is a must to get 10 percent more than originally offered to you. Remember, some organizations have non-negotiable salaries so make sure your range aligns with their offers and instead of asking for more pay you can ask them for additional perks.
In A Nutshell
By conducting relevant research, considering the whole compensation package, and being flexible with negotiation you can for sure get the offer that aligns with your expectations. Remember, not to be arrogant and confident only when discussing your value, and make sure to ask “Is this offer negotiable or not?’’ We hope the mentioned tips and tricks will help you grab your dream job with your desired salary.