5 Best Salary Negotiation Tips
Everyone goes through the process of salary negotiation sooner or later in their career and it is one process that has put more than a few stomachs in knots. Salary negotiation is a part of every hiring process but unfortunately, not many get it right. This is where the art of learning about salary negotiation comes handy.
Here Are a Few Good Salary Negotiation Tips:
Recognise Early:
When going for an interview, it is important that you be prepared beforehand about questions on your salary expectation. Many a times recruiters often want to know about your salary expectation while doing a phone call screening. Your salary expectation will help them judge whether you are too senior or junior for the position. And only if the salary bracket fits your expectation, the recruitment process will go ahead.
Negotiate When You Are in Power:
If you start negotiating early on in the process, chances are your candidature might get dropped. It’s important to wait for the right time, which is when you know you are the preferred candidate. This means you have the power and you can chalk out the details with your recruiter, keeping in mind the market range and also what you bring to the company. Never be the first one to bring up money. And if your recruiter does bring the topic prematurely, smoothly change the course of discussion and bring the focus back on your skills and how you can be a good fit to the company.
Not just cash:
While discussing the salary package, it is important that you ask the recruiter about the total compensation and not just the cash benefits. Ask them about the non-cash perks that the company offers because many a times, the non-cash perks help bridge the gap between your expected salary and what the employer has to offer. Also, you can discuss out the performance based pay or incentives, based on measurable results. Get the performance based incentive agreements in writing during your final offer.
Practise it:
One of the best ways to learn the art of salary negotiation is to practise it. It’s always good to see a career coach who can train you for salary negotiation by role playing the interview process including the salary negotiation phase. Doing so will make you confident about the whole process and to talk about money without being ‘apprehensive’ you are not getting it right. Sometimes it’s also your ability to reflect on what you did that worked well for you and what didn’t and how would you want it to be different next time.
Be persuasive:
It’s always good to learn the art of persuasion and negotiation and how to be assertive. Most employers expect salary negotiation to take place and that is where persuasion comes handy. But it’s also important to know where to stop, without coming across as too strong or demanding. Being persuasive and assertive are good skills, but knowing where to stop is also equally important.
