June 1, 2018
Secrets of Salary Negotiation during an Interview
Many people are self-conscious about themselves during an interview. They stress about everything from the first handshake to the last one. However, most people would agree that the most difficult part about landing a new job is the salary negotiation. It can be an uncomfortable conversation, but it has huge impact on your financial future.
Therefore, we offer you few tips and Secrets to keep in mind while negotiating your best offer. These tips will help you be less anxious about salary negotiation.
After all the purpose of getting a job is to get a good offer, good package and benefits.
Be prepared for salary negotiation
You know that the subject is going to come up so prepare yourself. Do a little checking on what a person with your qualifications is earning in your demographic area.
Emphasize the reasons you should get the offer. Document your skills and accomplishments, and be prepared to talk about them.
Get the employer to disclose 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 you’re in the same ballpark as him, or you’re high. And probably you will never know if you hit below the range the interviewer was considering.
Do not disclose past salary
Once the past salary is on the table, your negotiating edge goes out the window.
Don’t forget the value of benefits and perks when negotiating a salary
Sometimes the salary offered may seem low, but the benefits and perks can add up to 40 percent to your basic salary.
Do not negotiate until you have an offer in writing
Do not negotiate the salary before you have the full offer in writing so that you know what you will have in terms of benefits. Once you have the written offer, ask for a night to think about it and come back with a counter offer.
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 like 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 in 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 definitely get better each time you try.
Employers tend to prefer those candidates who already earn a greater 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.
The Business Lobby Team