Got Selected! Negotiate your salary with these smart tips
Got selected for the position you job you applied? Now, know how to negotiate your salary.
After cracking the job interview, now it’s time to negotiate your salary. You would have to survive with offered amount till your first salary increment if you agree on the amount the employer offers you. You might have to struggle even to fulfill your daily needs if your salary falls short. So, you need to ask for the amount that you need and deserve. But, negotiating salary is the part of a tricky discussion that requires one to keep some important data related to salary in the mind while arguing with the employer or human resource representatives. Simply, it is a difficult task. But, with certain tricks and tips, you can easily pass this stage of the hiring process. In this article, we will discuss how to negotiate salary when an employer invites you for the same.
Know your responsibilities in the company
If you begin to work on a pay package that doesn’t match to the responsibilities for the position you’re selected, then you might feel like you’re being exploited. It may severely affect your productivity, creativity, and performance that could hamper your image as a professional. So, while negotiating your salary, simply put your demand as per industry standard. It would help you to get a pay package that you really deserve and could keep you satisfied, and encourage you to excel your skills to get salary increments.
Understand the method of employee appraisal
You may feel like your future isn’t secured or bright in the company if there is no mechanism or system available to review and reward the performance of workers. It might badly affect your performance at work that would reduce your chances to grow in the industry. So, before joining a position offered by a company, gather details regarding the employee appraisal system and take a well-thought-out decision regarding your job in the company.
Gather important details regarding standard pay-structure
You can’t back your salary expectations if you don’t have specific data and facts regarding the salary of professionals on the same position in other organizations. The company which is offering you a pay package less than the industry standards might convince you to join the company. And you might begin to realize your mistakes soon after joining the company. It would badly affect your work spirit that could hamper your productivity, performance and ultimately your professional's image.
Know what you can offer to the company that others can’t
What can help you to stand out from the crowd of other candidates? Generally, companies reward those professionals who possess some particular skills or can offer something that they think can play a major role in achieving success and growth. It may be a particular skill, knowledge, or expertise that could help you to get highly rewarded. So, when negotiating on salary, highlight your skills, knowledge, and expertizes and ask politely to the employer to consider your salary expectation.
Figure out the expected range of the salary
Conduct an insightful research on salary being paid to the professionals on the similar positions in your industry and chalk out a range of the expected salary. It would help you to see the many salary figures that come with the range of salary you have drawn. And if the employer offers you a pay package anywhere between the range of the expected pay, you can easily figure out whether joining the company on the offered package by employers is right or not.
Decide the minimum salary
After deciding your target salary, determine the minimum pay package that you’re willing to accept. Ask yourself “why you’d accept this pay package” and then write the reasons down. It would help you to know the lowest pay package that is enough for your survival and could help you see where you need to take a stand. It would help you to get a minimum expected pay package that could ultimately fulfill your expectations.
After all, with effective negotiation skill, you can easily convince the employers to offer you the expected pay package. It isn’t a one day game to develop as it takes practice. But, by comparing your responsibilities with the offered pay package, knowing the system and timing of employee appraisal, keeping important facts related to salary of similar positions in other organisations, highlighting your strengths, figuring out a range of expected salary, and determining the minimum expected salary, you can effectively develop your negotiation skill and can get expected package in the company where you want to work.