Salary Negotiation might be the last step before you successfully start your new job. This may sound simple but it is actually very crucial. You got the interview call, did very-well at the interview, and you were finally offered the job. But at a salary package less than your expectations? Don't just rush into any decision you might have to regret later. The best deal is to go prepared for such situations.
Your salary is actually a reflection of your market value and it is no sin to negotiate for your actual worth. The company has spent its valuable time to select you after all the interview processes, so the company is obviously interested in you. But settling down on something below your worth is not the start you wanted. Salary negotiation is an art to offer your services on the basis of your skills, expertise, knowledge and special talents but at the same time you must convince your future employer to get it at your actual worth. Here are a few important points to mull over while you negotiate on the offered salary package.
What is the Right Time to Negotiate?
You are generally offered a salary package in the later rounds of the interview process. Wait till you get a formal offer, preferably in writing, or told in straight words that you are being hired. Rushing into a salary related discussion before this point can sweep away your chances of being hired.
Research to Know Your Market Value
A detailed research to calculate your market value for your skills and knowledge, along with "concrete data" that supports your demand for a better compensation, will actually help the employer in making the final decision. Concrete data, here, may mean your past experiences, hands-on experience on some effective tools, accomplishments with exact examples etc. The better you know your industry and work field, the better you can negotiate for a good salary. Just because one of your friends ended up landing a job in another company on a similar post at a higher salary, is not good enough a reason to support your demand for salary reassessment.
Follow the Good Body Language Tips
Show genuine excitement for the new job and the position offered. Let the employer realize he might be losing a sincere employee just because of lesser compensation offered. It is just a negotiation process, not a confrontation! Keep yourself clam and composed. A friendly smile during the negotiation process can make your future employer surprisingly receptive. Your posture, eye contact, hand gestures, and confidence will only make the environment more favourable for you.
Make the Best of Your Opportunity
You should always ask for something a little higher than your expectations. The employer is likely to negotiate a bit from his side too to settle down on a mutually convincing salary package. Disappointment may follow if you ask for something and the employer quickly agrees to it. But at the same time do not aim too high that makes you look greedy and arrogant in the eyes of your future employer. A good research of your industry ahead of time can actually help you in settling up at just the right compensation for your skills. Convey them that a bit of extra responsibility for a higher salary is also not a problem for you.
Be Ready with the Back-up Options
There may be a cap on the salary range they can offer you according to your experience level and this might lead to a bad ending to you salary negotiation session. If you could sense that the negotiation meeting is not going your way, always be ready with a back-up option. You should be prepared to ask for additional benefits like conveyance support, better pension scheme, flexible working hours or extra paid leaves. Such benefits can make a big difference as well.
Last but not the least - be ready to walk out of the room if they still don't have anything to offer that suits your worth. They may offer you what you want if they realize that you don't want it desperately. Or maybe they won't ever call you again once you walk out. Be prepared for that. It's upto you to decide whether you want to settle down with a job paying less than your expectations or be brave enough to walk out and search out a new job opportunity for yourself.
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