Seven Basic Salary Negotiation Tips
Money is the most sensitive issue in the whole hiring process. Discussing the compensation often causes anxiety on both employee and employer. Here are seven ways to make the process of salary negotiating efficient.
Before the interview process begins, contact the professional organization that represents your field of career. As soon as they provide you with your salary information, you can now examine your monthly cash requirements. Remember that once your taxes are added to your paycheck, approximately 30% of your gross monthly salary is deducted.
2) Determine your skills
You should understand that different segments of the economy require a variety of skills depending on the industry setting. Once you have established what your skills are and what they are worth to the current employment market, you would know the limitations of your negotiation.
3) Weigh the company’s compensation package
To determine your fair market value for a specific job, you should consider the economic, geographic, and industry factors of the job offer. Weigh the benefits of compensation and promotions, insurance, allowed time off and retirement settlements of the offer to ensure a fair proposed salary.
4) Sell yourself
If you know what you could offer the company requires a larger income, never say it directly. Once you sell yourself discreetly, the interviewer would understand that the proposed salary is not appropriate for your background.
5) Have a positive attitude
In negotiating, never compete. Negotiation is basically a process which could benefit both parties. Understand your needs and those of the company.
6) The final offer
Be aware when the negotiation is done. Pushing further when a deal has been set could give a negative first impression on your part.
7) Show what you are made of
The interview is only the first step in having an enhanced compensation. Once you are hired, offer your skills to the company and prove your worth by doing quality work. You may even get a promotion for doing so.
Based from a survey conducted by the Society for Human Resource Management, four out of five employees are willing to negotiate compensation. Understanding these basic tips will allow you to enhance the terms of your new job.