Many people are self-conscious during interviews, stressing about everything from the first handshake to the final farewell. However, for most, the most challenging part of securing a new job is the salary negotiation. It can be an uncomfortable conversation, but it has a significant impact on your financial future.
Therefore, we offer you a few tips and secrets to keep in mind while negotiating your best offer. These tips will help alleviate anxiety about salary negotiation. After all, the purpose of getting a job is to secure a good offer, a favorable package, and benefits.
Be prepared for salary negotiation:
You know that the subject is going to come up, so prepare yourself. Do a little research on what a person with your qualifications earns in your demographic area.
Emphasize the reasons you should receive the offer. Document your skills and accomplishments, and be prepared to discuss them.
Get the employer to disclose your salary before you do:
Don't be the first to mention salary during the interview. Let the employer or interviewer bring it up as many times as necessary until you feel ready.
Don't give a number during the interview:
The first person to talk establishes the range. If you give a number first, the interviewer will either tell you that you're in the same ballpark as them, or you're too high. You may never know if you suggested a figure below the range the interviewer was considering.
Do not disclose past salary:
Once past salary is on the table, your negotiating edge disappears.
Don't forget the value of benefits and perks when negotiating a salary:
Sometimes the offered salary may seem low, but the benefits and perks can add up to 40 percent of your basic salary.
Do not negotiate until you have an offer in writing:
Don't negotiate the salary before you have the full offer in writing so that you know what you will receive in terms of benefits. Once you have the written offer, ask for a night to think about it and come back with a counteroffer.
Know what you need:
Each person has needs that extend beyond money. You can listen to advice from your friends, but in the end, you have to go to the job every day, and you have to decide if you are going to enjoy it. No salary survey can tell you that. Some people will trade money for time at home with their kids. Some people will trade money for the opportunity to work with VIPs. You need to know what you will trade money for, but be sure to be honest with yourself. Don't give up extra money just because you hate negotiating.
Make your salary discussion a friendly experience:
Be amicable when discussing salary. You should make the employer feel that you are on the same side and working together to find a package that would satisfy everyone's needs.
Declining an offer:
If you decide not to accept the offer, make sure you leave on the best of terms. Treat every offer seriously and graciously. You can never tell who you may be doing business with in the future, so don't burn any bridges.
Finally, never underestimate the importance of negotiating salary during an interview. You might say you hate confrontation, and negotiating is not your strength, but if you try, you will almost always get more money, and you will get better each time you try.
Employers tend to prefer candidates who already earn a higher income. While these candidates cost more to employ, their higher incoming salaries are assumed to reflect greater competence, initiative, and achievement. So, it's in your interest to pursue income increases at every legitimate opportunity.