Salary negotiation is a cycle that repeats throughout your career. You interview for a new position, negotiate a job offer, leave your old position or appraisal cycles. Negotiating a better salary is something that everyone should be focused on. Not just you should be hell bent on getting a certain number on table, but there is a knack of doing it
Please remember, Salaries range greatly by industry, seniority, and geography, and getting the salary you want will depend on asking for a realistic compensation package. For all good reasons your pay may already be at market standards or sometimes much more. So use this guide at your discretion.
Salary negotiation starts early in the interview process or during the process, when you’ll often be asked for your current salary or expected salary. Here again, be cautious. If your salary negotiations start early in the interview process then it may not be the right start for you.
Before get into a salary negotiation, it’s crucial that you find out, objectively, how much someone in your position, with your experience and in your location, should be paid. This is where tools like Glassdoor and Payscale come into picture. Research and learn about the market standards.
The process would be lot effective & efficient if you are in contact with recruitment agencies. These folks know inside out of the market and can give you realistic expectations
According to recent research, failing to negotiate your salary when first accepting a job offer could be costing you over $600,000 in salary during a typical career. Well, that certainly a big number.
Once you have a ballpark for your market worth, you’ll be able to compare that with what the average salary for the position you’re vying for is.
If you’re starting out or just left college, you might not have much to show off. In this case, pitch your enthusiasm and work ethic. uch of a successful negotiation comes down to feeling confident and comfortable. Practice your pitch at least once before you dive in.
Keep the below pointers in mind
Have a salary range rather than a single figure. When pressed for your salary requirements, you should always be sure to offer a range based on what others in the field are earning, rather than a single fixed number
Give specific examples of value you’ve given to employers in your career. When asking for a raise, detail your accomplishments, and ,if you can, highlight the time and money saved to the company. Never sell yoursel short.
As much as you need to decide what’s negotiable and what’s not for you, put yourself in your prospective employer’s shoes. Be realistic about the size and type of company interviewing you and think about whether they can afford being flexible in the first place.
Do keep this in mind – Not all employers appreciate and encourage salary negotiations. Plenty employers outline their offered CTC in their job ads. A few more will brief you up right. So, use these negotiation pointers cautiously
Help is just a click away
Top Recruitment Firms like Staffio Search has solid experience hiring for roles across sectord and industries. Chances are pretty high that we may just be on time to help you get an accurate salary figure