Money is not an easy topic to talk about, be it in terms of buying a new car or negotiating a salary after a job offer. Most of us tend to avoid negotiating salary with our hiring manager in the fear of ruining our chances of landing the job offer. While this fear is understandable, learning how to negotiate salary is crucial for every working professional.
Studies show that only 37% of people negotiate for salary during interviews or performance reviews. With the rise in competition, employers understand what it takes to hire a qualified and skilled candidate. So whether you are a fresher or an experienced candidate, it is time to learn how to negotiate a salary.
Also, click here to know the importance of Salary Slip Format.
Here are a few basic tips to help you overcome your fear and get you started:
Research The Salary Trends
In order to negotiate a salary, you must be aware of the industry’s salary trends. Without the right knowledge, you will not be able to justify why you deserve a raise. For instance, if you are a skilled and certified candidate for a job that is high in demand you will be able to negotiate a much higher salary when you are aware of all the statistics. If you are unsure about what the right bar is, you will not be able to convince the interviewer either.
Build Your Case
Do not simply put a high number in front of the manager. Build your case with logic and reasons explaining why you think you deserve more than what is being offered. Talk about your past achievements or strengths and skillset that makes you perfect for the job. If you own any certifications or rare skills, now will be the time to bring them into the spotlight.
Do Not Exaggerate
While this might be your first time negotiating for salary, keep in mind that the interviewer probably goes through this discussion many times in a day. As a result, they can instantly tell when you are stretching out the truth or exaggerating things. Do not try to bluff the manager. Stay true to yourself and give honest points that prove you are worth it.
Regardless of whether they oblige to your request or not, remember to always be polite with the manager. There are times when a company cannot compensate you as per your requirements due to genuine budget reasons. In such cases, if you find everything else okay about the job and feel like you can work with what they are offering, accept the job offer politely. Else, you may decline gracefully. But do not lose your calm or show a bad attitude towards the employer.
Pick Your Moments
Any reasonable manager will know it is only natural for an employee to negotiate for salary. However, dragging out this negotiation might irritate your hiring manager which could lead to starting off on a bad note. Pick your moments and acknowledge when to wrap up the conversation. If the company does not meet your criteria, respectfully withdraw from consideration and go after opportunities that match your bar better.
Lastly, remember to practice your pitch with a friend or any other working professional. Do not wing it! Break down your pitch into points and go through them logically. Remember to implement these tips and understand your worth. After all, if you think you deserve more, it is only you who can make it happen.
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Washija is a content specialist at Receptix. She has an MBA in Tourism and a passion for creating web content. She is an avid reader, a traveler, and a versatile writer. She has been writing on the topics of education, career advice, and related areas for the past 3 years.