34.1 C
Tuesday, July 16, 2024
Home > Salary Negotiation8 Golden Rules of Salary Negotiation

8 Golden Rules of Salary Negotiation

You have made it through the initial stages of the job application process and now find yourself in the final round. You really like the job and can tell that the interviewer prefers you over the other candidates.

They offer you the job, but the salary they propose is lower than what you believe you deserve. Simply accepting or declining the offer won’t solve the problem. So, what should you do next?

Sometimes, the compensation packages offered by employers may not be well-designed, which can be a deal-breaker. However, it’s important to remember that the recruiter has a budget to work with.

While you may have a specific salary in mind, the recruiter might not always be able to match it. In such situations, it’s important to negotiate in a way that satisfies both parties involved.

How to Counter Offer Salary

Also Read : How to talk about salary history

1. Never accept the first offer

The first rule of any negotiation is to never agree to the first offer made by the recruiter. If you accept it, there is no scope for any further negotiation. If you do not have a counter-offer in mind, ask the employer to give you at least 24 to 48 hours to come to a decision.

In today’s age, an employee’s compensation includes components over and above salary such as stock options, bonuses and insurance, among others. Therefore, you can negotiate and ask for other such perks as well.

Also Read : Do you Know about these Five Negotiation No-Nos?

2. Avoid sharing a number

Make sure you never share a number unless requested to do so. When the prospective employer asks for your expected salary, quote the percentage increase you have in mind and then wait for them to revert. Once they make the first offer, refer to point one above.

3. Keep emotions at bay

Salary negotiation should be conducted in a formal and professional manner. Do not become emotional while negotiating. You may have myriad thoughts and feelings, however, make sure that none of that affects your negotiating abilities so as to avoid taking an emotional decision.

Also Read : How to budget on an entry level salary?

4. Find the balance

There is no point in suggesting a number that the employer would not be able to pay. So, understand your market value beforehand by speaking to recruiters and others from your field, and balance it with your employer’s pocket to be able to successfully negotiate.

5. Practice role-play

Before heading in for the interview, you should be prepared for any situation. Role-playing helps with such situations. Practice in front of a mirror or with a friend, and stay at it till you’re comfortable with the conversation.

6. Know your worth and help them understand too

It is only when you know your worth that you can make the person on the other end understand the same. Once you help them realise the asset that you are going to be for the company, it is easier to negotiate the salary. If it helps, you can talk about your salary history as well.

Also Read : Be Paid What You’re Really Worth

7. Don’t underestimate the importance of likability

It is a basic rule, but still as important as any other. The recruiter will fight for you if he thinks you are worth it. Don’t be afraid to quote a number that is higher than the one offered. If the recruiter likes you, he/she is sure to try for a better offer.

8. Set the tone right

Being professional and polite is the key. Sounding greedy or arrogant will not help your cause. So, while negotiating, it is best to be polite, kind and honest but firm with the recruiter.

FAQ on Job Offer Salary Negotiation

FAQ 1: Should I negotiate the salary in a job offer?

A: Yes, negotiating the salary in a job offer is common and acceptable. It is an opportunity to ensure that your compensation aligns with your skills, experience, and the value you bring to the company.

FAQ 2: When should I start negotiating the salary in a job offer?

A: It is best to start negotiating the salary in a job offer after you have received the initial offer.

Take some time to evaluate the offer and consider factors such as the job requirements, market value, and your own qualifications before engaging in salary negotiations.

FAQ 3: How do I approach salary negotiation for a job offer?

A: Approach salary negotiation for a job offer by conducting thorough research on industry standards, similar roles, and your own market value.

Prepare compelling reasons to support your desired salary and articulate them professionally during the negotiation process.

FAQ 4: What if the employer refuses to negotiate the salary in a job offer?

A: If the employer refuses to negotiate the salary in a job offer, you can consider other aspects of the offer that may be negotiable, such as signing bonuses, benefits, vacation time, or professional development opportunities.

Alternatively, you can evaluate if the overall package is still satisfactory and make a decision based on your priorities.

FAQ 5: Is it possible to negotiate the salary in a job offer without jeopardizing the offer itself?

A: Yes, it is possible to negotiate the salary in a job offer without jeopardizing the offer. Employers expect candidates to negotiate, and a well-prepared and respectful negotiation can be seen as a positive trait.

Clearly communicate your value and reasons for negotiation while remaining professional and open to finding a mutually beneficial agreement.

You may also like:

Hacks to Be Super Productive at Work
10 Common issues that Concern your Employees

- Advertisement -spot_img

More articles


Latest article