Negotiating a high salary package is something important that you need to pay much attention.
When was the last time you negotiated for the high salary? It might be year completion with the company. Sometime when your value of hardwood doesn’t reflect in terms of compensation. It means you’ve compensated with less pay. Doesn’t settle for less. No matter whether you’re a fresher or experienced employee, you need to focus during salary negotiations.
Definition of salary negotiation
Salary negotiation is a conversation between employee and employer. It means you’ll discuss with your company higher authority. Top companies salary negotiations are conducted between employee and HR. As the higher authority will be dealing with other important tasks.
While negotiating salary, always aim for a high salary. No matter whether you’re already working for the company or new employee when you feel the salary is not just enough, you have the power to negotiate and get what you want and what you actually deserve.
How to negotiate your starting salary?
Understand the job
Whether you applied for customer care executive or software developer position, make sure you completely understand the job requirement, responsibilities, expereince and expectations for that job position. Choose a job that is suitable for your skills and experience.
Educate yourself on the company
When you got a call from company HR, don’t rush saying anything with half knowledge. While applying for the job it’s important to spy on company history. Check the reviews on glassdoor or other platforms. Understand how they’re offering a salary. How long do employees are promoting to higher positions and more. You can directly communicate with HR and clear the doubts regarding salary, promotions, etc.
Research the position
Many people are afraid while discussing their salary. If you’re a fresher then you might be negotiating with a high salary. This will make the company feel odd and you might lose your job when you negotiate with a high salary. It’s better to avoid asking for more salary by researching your job position. There are few sites such as Glassdoor, Indeed, Carreronestop and kore. They provide information about the company. It includes the number of employees, current hiring positions, salary details and more. Spend your time researching about the salary for your job role. Salary may vary depending on the job role. For example, data entry executives have less salary and software developers have more salary. If you’re choosing the job in another city then you need to consider the cost-of-living factor.
Know your strengths and differentiators
If you demand a high salary for your work then you need to be unique from others. It’s important to be special while negotiating your salary. Knowing your strengths and differentiators are important for you. Conducting SWOT analysis will help you to know your strengths, skills, experience and differentiators. This will surely make you a valuable employee. Keep a note on your strengths and differentiators. This can be helpful while negotiating your starting salary with HR.
Determine your salary negotiation
Determine how much you would like to negotiate. Consider the results of researched salary, strengths and differentiators. According to your research decide an appropriate salary range. Fix a target salary and discuss with HR. Make sure your target salary much be a range within your salary expectation.
Determine your “walk-away” period
After determining your target salary range, it’s time to think about least pay that you’re ready to accept. Also, you need to list down the reason why you’re accepting a minimum salary. Because HR will ask you about accepting the lower salary while interviewing.
Practice your negotiation skills
Practice makes a man perfect!!! The right practice can help you to get a high paying job. Ask your friend or sibling to play an HR role. Imagine them as a real hiring manager and have a discussing with them. Act smart while negotiating your starting salary.
How to negotiate your Raise?
No matter whether you’re an HR manager or senior employee understand the efforts you’re making to the company to become successful, it doesn’t mean the company would offer a great hike or bonus. But, all you need to prove your sincerity and hard work for a raise in your salary at a new job.
Leverage internal moves
It’s no surprise a new job role in an organization is one of the greatest opportunities to negotiate the salary. Don’t involve yourself in an unnecessary argument with the management. Be enough smart and wise, use market analysis information that your organization spend to hire and provide training to the new employees. After collecting the market data, you can easily convince them by negotiating the appropriate salary.
Choose your moment
Did not get a hike this year? Looking for a good time to negotiate your salary? Picking a good time can be a difficult task for you. The best time to discuss the salary negotiation is during your performance analysis. When you’re team leader or manager is impressed with overall performance, this can be a great way to discuss your salary negotiation.
Deliver your counter offer through email
When you get a call from the hiring manager, take time for one day. Start calculating your counter offer. Give them the reason for the counter offer by justifying with valid points. Once when you determined the counter offer, it’s time to drop an email to the hiring manager. Sending an email can be an advantage for you. Because while writing an email, you can articulate in a great way. You can clearly explain your justification for your counter offer. When you send an email to the hiring manager, your email will get circulated internally. Other high authorities will look at your email and discuss your salary.
Whether you’re in the third round of your interview process or just have received a new job offer, make sure you understand how to negotiate your starting salary. Negotiating for a better salary will fulfil your financial needs. Read the article and learn more about salary negotiation. Our team have discussed important key points while negotiating your salary. Follow the guidelines and get a high paying job without hassles.