When you begin your job hunt and successfully pass the various stages of an interview to the point when you are asked to quote the expected salary, most of the job seekers get confused and end up asking for too little or too much. While it is true that a job opportunity is seen as a career growth opportunity for a brighter future, it is also a fact that we wish to receive the pay which is according to our skills and experience level. A job opportunity with a good salary package is bound to attract the best candidates from the crop as job seekers are naturally interested in their financial well being as well as professional growth.
Many job seekers have no idea how they should negotiate the salary demands and often end up getting far less than what they had been hoping for. Smart salary negotiation is an art which can be learnt by practicing and researching. However, by following some of the useful tips given below, you can easily make sure that you get the salary package that you deserve.
Important Tips for Salary Negotiations:
Given below are some of the most important tips and techniques that can help you in negotiating the salary package with a prospective employee successfully.
Illustrate Your Experience:
The most important thing that the employers consider when they propose a salary package to any prospective employee is the experience that he has gained working in the field. You write down the relevant experience in the resume but just putting it there will not do the trick. When you are being interviewed, the employer needs to see that you have the skills and the experience necessary to cope with the job requirements. You should prepare some examples of problems which arose at your last job and how you used your skills to handle the situation effectively. Showing the employer that you have the relevant experience can go a long way in getting you the job.
When you list your accomplishments in the CV and mention them during the interview, providing actual numbers and statistics can help in impressing the employer. For instance, if you have been working in the sales or marketing department of a company, rather than saying that you contributed towards increasing the sales of the company, you should mention the exact figure saying you increased the sales by 10 or 15 % within a given time period. This makes a better impression on the employer and increases your chances of getting a higher salary package.
Don’t Ask About The Salary:
One of the most common mistakes made by the job seekers is that they ask about the salary themselves as the interview approaches the end. You should always leave it up to the employer to inquire about the expected salary and then quote what you have in mind. Even if the issue of salary does not come up during the first interview, it is better to leave it off for the second interview. Since by that time the employer has made it clear that you have been shortlisted for the new position, you have the upper hand in negotiating the salary package.
Do Your Research:
When you are negotiating the expected salary package, you should know the average salary for the position and your level of experience. This will help you in quoting a more acceptable and reasonable salary package which will most probably be accepted by the employer as well. You can ask our friends and research on the internet to get access to the average salary in accordance to your position.
Know The Lower Limit:
When you quote a salary package to the employer, they are bound to negotiate and try to bring your demand down. You need to know what the lowest expected salary range is for the job that you are interviewing for. By knowing the lower limit, you can maintain your stance on a specific amount and make sure that you do not settle for anything less than that.
Keep Personal Stuff To Yourself:
When you enter the salary negotiations with a prospective employer, make sure that you base your negotiations on your capabilities and experience. Citing personal and financial problems as a reason for demanding a certain salary package is highly unprofessional and endangers your chances of getting the job. No matter how much you need the job; there is no reason to share the personal problems with the employer.
One of the most important things when negotiating the salary package is to remain calm and controlled. When you panic or become agitated, you lose the upper hand and end up making the wrong decision. Even when you are negotiating with the employer on the salary package, you are being judged on your ability to handle pressure situations, so panicking can be the biggest mistake you make during an interview.
Look For Benefits:
Even if your prospective employer does not meet your salary expectations, you can inquire about certain health benefits such as health insurance etc. By getting some benefits other than cash compensation, you can actually lessen your financial burden which might make the lower salary package acceptable.
Be Prepared For Tough Questions:
When you ask for a salary package, be prepared to answer tough questions such as, “Why do you think you should be paid so much money” etc. Do not be offended or hurt by such questions and try to answer them as calmly as possible and prove that you are the best person for the job and hence deserve the raise.
There are no hard and fast rules on how one should negotiate the salary package but when you follow the important tips given in the article, you can maximize your chance of getting the salary according to your wishes.