Career Advice

Negotiating Salary? 12 Tips to become a Pro in Next 4 mins5 min read

December 24, 2019 4 min read
negotiating salary

author:

Negotiating Salary? 12 Tips to become a Pro in Next 4 mins5 min read

Read­ing Time: 4 min­utes

Very often, though we all seem to believe we always deserve a bet­ter pack­age than we get, we don’t nego­ti­ate for the same. It has been found by research that near­ly 50% of employ­ees shy away from nego­ti­at­ing salary dur­ing inter­views or pro­mo­tions.

The psy­chol­o­gy behind the same is that while inter­nal­ly we all believe that we deserve more when it comes to con­fronting the oth­er per­son for the same, our con­fi­dence wavers and we end up not ask­ing for the same. This fear of rejec­tion on the basis of a high­er nego­ti­a­tion dri­ves us to be qui­et. We, how­ev­er, know much scari­er is the prospect of not nego­ti­at­ing salary. When we want you to go to the inter­view we wish you to get the best you can. We are thus here to tell you how to best get what you want.

Keeping that in mind, here are tips that can help you to negotiate salary better:

  • 1. Knowing your value

It is cru­cial that you are well researched on what the val­ue of your posi­tion, area, expe­ri­ence, and all oth­er crit­i­cal fac­tors is in a com­pa­ny like the one you are appear­ing in. This can often be done by con­cen­trat­ed Google search­es and talk­ing to peo­ple in the indus­try and the com­pa­ny. This allows you to bet­ter pitch the salary you want with­out fir­ing arrows in the dark. It also shows the com­pa­ny that you are seri­ous about your pos­si­ble work­ing with them.

  • 2. Talking to recruiters

Those pesky recruit­ment calls you to get that you dis­con­nect, they can be a great source of infor­ma­tion about your val­ue and what to nego­ti­ate once on the table. They keep tabs on peo­ple and posi­tions along with their mon­e­tary val­ue. Get­ting a spe­cif­ic num­ber is unlike­ly unless you vis­it them or seek their help find­ing you a job but gen­er­al­ly know­ing a range is not that dif­fi­cult in such con­ver­sa­tions.

  • 3. Start at the top

Now that you know the range in which your salary must fall, start the salary nego­ti­a­tion at the top of the range. This serves a dual pur­pose. One, it shows those on the oth­er side of the table that you are con­fi­dent in your skills and abil­i­ties. Sec­ond­ly, it is cer­tain that the oth­er per­son will nego­ti­ate to go low­er so start­ing high allows you to stay in the range you want­ed.

  • 4. Exact number

When nego­ti­at­ing salary, do not round up but rather quote an exact num­ber. For exam­ple, ask for 8.4 lakhs rather than 8 lakhs. This allows them to see you’ve researched more exten­sive­ly. This also gives you a high­er chance of a high­er pack­age.

Don’t be afraid to walk away — The num­bers you have in mind remem­ber to have a fixed low­er lim­it. If the nego­ti­a­tions reach that point, polite­ly but sure­ly be ready to walk away from the offer. If noth­ing else, this ensures you do not set­tle for less than you deserve.

  • 5. Being ready

This means that when you nego­ti­ate salary at your num­bers, you should be ready to answer ques­tions on why you deserve it. Ques­tions such as “do you have the right expe­ri­ence”, “have you han­dled the right respon­si­bil­i­ties before”, “has your per­for­mance been above expec­ta­tions in the past” need to have a pos­i­tive answer from you with proof.

  • 6. Practice makes perfect

As great as an impromp­tu ora­tor you may be, prac­tic­ing nev­er hurt any­one. A few run-through of nego­ti­at­ing salary with friends or in front of the mir­ror will help you see where you can pitch bet­ter and will also have you bet­ter pre­pare for ques­tions. You need to prac­tice more on improv­ing your com­mu­ni­ca­tion skills.

  • 7. The walk-in

How you walk into the room sets the tone for the most part. This aspect shows your con­fi­dence in your­self and the process. This also sets the tone for the nego­ti­a­tion where you are not on the table on the back foot.

  • 8. Focus on the future

Often, those on the oth­er side of the table will ask you your present salary. This becomes a prob­lem if you’re under­paid in the present job or look­ing for a seri­ous hike. In such cas­es remem­ber to focus on the future and what you bring to the table for them.

  • 9. Be the first to ask

Find the oppor­tune time and put your num­ber on the table first. The first num­ber on the table is the most impor­tant one as it sets the num­bers rolling from there. If the oth­er par­ty puts a num­ber out first then you are always run­ning behind.

  • 10. Don’t use a range

Keep­ing a range in mind is one thing but do not quote one while nego­ti­at­ing salary as that allows the oth­er par­ty to use it to pay you the low­est in the range. Quote high­er than you want and quote a sin­gle num­ber as dis­cussed ear­li­er.

  • 11. Use email when you can

While most nego­ti­a­tions hap­pen over a call or face to face, if your com­mu­ni­ca­tion with the recruiter is most­ly over mail then you need to lay­out your demands well in the nego­ti­a­tion salary email.

  • 12. Don’t be afraid of the “no”

You must remem­ber that them say­ing no is a part of the process of nego­ti­a­tion of salary. Do not be afraid of it and work through the same to get what you want.

If you keep the above points in mind, your nego­ti­a­tion of the salary should go well. Stay con­fi­dent. Remem­ber that this is where you will be work­ing for the fore­see­able future hope­ful­ly and thus nego­ti­at­ing salary while keep­ing it all well is cru­cial here.

 

Isha is a post graduate in Economics and has a passion to curate great content for web users. She has a research and writing background in Higher Education, Jobs and Digital Marketing space.
Leave a comment

Your email address will not be published. Required fields are marked *