You need not wait for performance appraisals which predominately count on your productivity and performance. The pay package is the most significant thing that both the candidate and the employer are interested in. The candidate will try his best to increase his pay, whereas the employer will try to offer the candidate the lowest salary but with the same job responsibilities. Here are some of the most important job salary negotiation tips that you can use to get yourself a salary that is in sync with the position you are applying for.
Obtain Few Job Offers
To increase your leverage to ask for the best salary, you need to have in hand some good job offers which may seem competitive to the job you are intending to get. It is considered that having few job offers in hand not only gives candidates a chance to practice their salary negotiation tactics with different organizations, but also gives the candidate a certain amount of security and confidence in asking for a higher salary. Possessing job offers relevant to the position you are applying for gives you the advantage to negotiate a salary which is deserving and according to your skills and capabilities. Having many job offers also enables you to negotiate salary with several different companies, and choose the place which provides the best pay package. Employers tend to offer you less salary if they come to know that you do not have any other job offers, and this is your only chance of getting a job.
Position Yourself as a Beneficial Candidate
To boost your salary negotiation skills, you need to position yourself as a valuable and 'absolutely necessary' candidate, which any potential company will not want to let go. Your exceptional value and worth can be displayed to the employer via your resume, the way you perform in the interview, your dressing style, preparation of the potential company's information, and of course, your skill set and experience. You simply need to remember that the commencement of salary negotiations in a job interview can only be done after the employer is assured of your exceptional value and worth.
Conduct Salary Research
A person who has carried out salary research is more likely to succeed in salary negotiation, than one who is not aware of his salary range. For the purpose of negotiating the best salary possible, it is essential to conduct an exhaustive salary research to determine what is the standard pay for executives with similar experience and education in the same field. An elaborated research like this would effectively enable potential candidates to assess what the lowest and highest pay packages are. It would also enable them to put forth a demand for a suitable salary range during negotiations. You should also take in mind that the salary range may largely depend on the state you are working in or the state you intend to work in. If you get a job in a large reputed company, you are more likely to receive a good pay package. The primary factors and determinants for assessing salary ranges are the job description, kind of industry, size of the organization, location of the company, the candidate's educational status, and most importantly, the work experience. These factors would efficiently enable you to place suitable quotations during a pay package bargain.
Correct Time for Salary Negotiation
The art of salary negotiation is the most crucial factor for obtaining the correct salary. You should try to obviate premature commencement of salary discussion. You should start the essential salary negotiation only after the interviewer asks about your requirements and expectations. If you mention the salary factor earlier than necessary, you may be opted out by speaking of money too soon. You should let the interviewer take the first step in salary negotiation, and then you can proceed with the conversation. Many times, it is difficult not to talk about the salary range, particularly when questioned about your pay history and expectations. Just remember that the sooner you start negotiating a salary in an interview, the lesser are your chances for succeeding in the salary discussion.
Offered Salary Considerations
Do not underestimate your value and accept what is offered, even if you need the job urgently and have no other alternative. Stave off such desperate decisions, since even the best offers need to be properly critiqued. That being said, you should also never reject offers straightaway when the salary is a lot lower than what you anticipated. It is recommended to ask for some time to think on the matter before declining the offer. Moreover, a majority of employers would give you some time to think about the salary they are offering and the salary which you expect to receive. If the offered salary is very low, you do not have any choice than to decline the offer. However, if the salary offered is acceptable but not as per your prospects, you need to take in mind the other benefits
