You must be prepared with a Salary Negotiation Secret as Employers rarely make their best offer first. The individuals who arrange thoughtfully can win a great deal more than the individuals who don’t. What’s more, a well-thought-out negotiation makes you look like a stronger candidate and employee. Those people who attempted to negotiate their salary in a constructive way are perceived as more favorable than those who didn’t negotiate at all, since they were demonstrating the skills the company wanted to hire them for.
➤ During the Interview Process:
You can start laying the groundwork for your salary negotiation even before the first interview. Here’s a step-by-step guide:
Make Your Research: Know about the company’s salary ranges and benefits as well as industry salary ranges before the first interview. Also know about the company, its competition and the industry. Then think about what you want from the job, both in terms of salary and benefits, as well as opportunity and upward mobility. This information will become valuable during the interview and salary negotiation.
Don’t Try To Negotiate Too Early: You never win by talking about money early on. The time to talk about money is when they’ve fallen in love with you. Once the employer has decided you’re right for the job, “it becomes an issue of, ‘how are we going to make this happen?”
Avoid the Salary Requirements Trap: You’re trying to determine who you want to continue in this process, and it doesn’t make much sense to pursue candidates you aren’t going to get.
➤ At Time of Offer
Strike First: Try to mention a specific salary before the employer does. This will start the negotiations in your ballpark. “The whole negotiation is based on that first offer”.
Don’t Commit Too Quickly: The employer often offers the job and salary simultaneously. Never say yes right away , even if you like the offer. Tell them you’ll give them an answer within a certain time frame.
Make Them Jealous: If you’ve been interviewing for other jobs, call those prospective employers, tell them about your offer, and see if they can speed up the interview process or make you an offer. Knowing you have another offer will make you more attractive to them. When it’s time to answer the first employer, mention the other employers’ interest to help boost your value. But don’t make up imaginary offers. It’s easy to check, and the interest alone will help you look good.
Articulate Your Expectations: Tell the employer what you want from the job. It may be both in terms of salary as well as benefits and opportunity. It may be your title whatever has a perceived value to you.
Negotiate Extras: If the employer can’t offer you the salary you want, think about other valuable options that might not cost as much. Education can make a big difference in your long-term marketability.
Quantify Your Value and Performance: Mention your value in quantifiable terms, such as how much money you saved your company and how your projects increased revenues by X thousands of dollars. Then tell them specifically how valuable you expect to be in your new job.
Make a little research of the company and salary structure of the company and the overall industry. You must have to be confident and prepared with all the necessary documents.