While sitting at the interview of the job you wish to get, you are thinking of one primary thing: money. You are weighing your chances of impressing your employer, getting the job, and negotiating a salary good enough to sustain and motivate you. When a company wants to buy your time and efforts, keep in mind that it is a human being who decides how much you are going to earn at the end of the day. This means that, because it isn’t a cut and dried process, there is always room for negotiation.
How, then, can you negotiate your salary to reach the best possible amount? First, you must need to understand that the better you understand certain determinant factors that your employer would be willing to raise the bar for, the better for your bargaining powers. For example, is the position urgent i.e., is the company losing money because the position isn’t filled yet? Was your personal rapport with the interviewer good? Yes, you met the job requirements, but do you have special skills that the company may gain from tomorrow? All these and more may convince him/her to loosen up the salary budget a little. So, to negotiate well, pay attention to these rules:
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- Know when to negotiate: There is no point discussing salary until you’re sure that you are going to get the job, or else it might hinder your chances. When your employer asks “What are your salary requirements?” or “What did you earn on your last job?” they are trying to find your range. This question can be tricky, because a high figure may screen you out, a low figure may do the same or lower their offer. The proper time to talk salary is when you are sure that the employer knows your worth and is willing to offer you the job.
- Let them go first: When you are sure it is the right time to begin discussing, it is always wise to let them go first. Don’t haul out your research too fast. Chances are high that they will offer more than you proffer. Of course, the amount they mention first cannot be their best offer, so that gives you a clue where they are willing to start.
- Repeat their offer and be quiet: This always has an effect. If they have made you a lowball offer and they know it, your silence will prompt them to increase. If not, they will go ahead to explain why their offer is reasonable. Now, you can negotiate.
- Establishing your individual value: Yes, they are willing to pay you the standard price for the standard employee of that range. But what of your special skills? What about the fact that you learn fast? Or that you have more experience? What about the fact that you studied in a prestigious university? This is where your selling point comes into play, and what price are they willing to pay for it?
- Cinch the deal: Now that the offer has been improved, are you happy with it? Is it something you are content to live with? Does it include a good benefit package? If yes, then you can shake hands, and look forward to a fruitful relationship together.
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This article was first published on 8th October 2013