Negotiating Your Salary
What is the main purpose of negotiation about salary?
Salary negotiation is usually sensitive but very important part of an interview. Negotiation means discussion about an issue desired to reach some meaningful conclusion. Negotiation about salary is the basic right of a person who is being interviewed for employment in an organization. The purpose behind such an argument is to convince hiring authorities for a reasonable salary that would satisfy the concerned worker to serve that organization for a given period of time. If employee is pleased with the pay package, he/she contributes positively towards his assigned duties and responsibilities. However, failure in negotiation may bias the worker negatively towards the company, affecting his/her overall contribution. Reasonable pay package is quite essential for satisfactory conscience of an employee.
Is salary negotiation allowed?
Several organizations specifically ask their employees about their expected salary while interviewing them. It helps hiring officials in getting an idea of thinking and demands of employees. Therefore, the person, who feels he/she has impressed the company officials for hiring in job with his/her skills and qualifications, has every right to ask for expected salary. More often, such negotiations show a positive approach of the seriousness of a worker towards the job. Shyness in this regard may result in lesser salary than worth the nature of the work.
What is the culture about it?
The prevailing situations of job all around the world presents a gloomy picture for young fresh graduates. Most people desire for a job sufficient to run their home expenses and do not put forward their rightful pay before their bosses. They are willing to work for money, which may not justify their qualifications and skills. On the contrary, those who are working in some company but not satisfied about it will seek for further opportunities. They will certainly ask for salary higher than what they are actually getting at the moment.
What are the tips for convincing hiring authorities for desired salary?
There are plenty of strategies that can be adopted to convince the company authorities to hire you for your desired pay package. Some of them are:
- Assess your position during interview. If you feel the positive response in hiring and you are called for another interview, this certainly indicates that company needs your services. In such a case, you can put forward your desired salary and argue over it and it can be settled with mutual understanding. Always deliver your response confidently, and do not allow the intonation in your voice to turn your answer into a question. If you feel the company official don’t require you and are not impressed by your talent or education, you may be wasting your time by getting involved in needless argument over the pay package.
- You can put forward quite higher pay than you expect to get from the job if you have better opportunities in other companies. If you have multiple interviews scheduled in a short period, you can put this information in a slightest of manner in the ear of hiring officials that your skills are valued at many places and they may lose you if they don’t offer you satisfactory salary.
- If you have work experience, make it count effectively and convince officials that you deserve higher than candidates with less or no relevant work experience
- Don’t stop negotiating too soon as hiring officials are usually very experienced in such discussions (negotiations between employers/HR representatives and employee representatives/unions on pay increases can take hours if not days)
How do you find the reasonable salary package for a certain job?
Before appearing for interview, do your research regarding pay scales in government and private sectors. Consider the value of the vacancy you are applying for. Take into account the market value of the job’s nature. If you have worked in some industry or company before, you should know the salaries of persons working with you. If the company is doing successful business in the market in terms of revenue generation, you should expect higher salary. The suggestion of relatives or friends working in the similar areas may help you a lot in this regard.
Where to surrender and where to argue?
While negotiating, be careful not to show aggressive or proud nature. Be polite and humble to an extent that you convey your demands to them not in an authoritative manner. You may have to surrender in some cases if you are being interviewed after a long period of joblessness. You will prefer to get the job and think of salary afterwards. However, if you are already getting reasonable salary then you can argue for a higher pay in other companies as you have very little to lose. Don’t surrender until you feel you are justified by them.
What is the right time for negotiation?
Many companies arrange multiple interviews before hiring persons. Initially they look for technical aspects and then later on, they seek management skills and over all personality. Leave the negotiation to the last time when you are confident enough that they will hire you. You may wait for them to initiate this issue. They may initiate even at the start by asking you to fill out some forms. Don’t mention expected pay if possible. And if it is compulsory, mention around 20% higher pay than you think what actually is reasonable for the job.
What are the long term benefits of initial negotiation about salary?
The negotiation about salary must always be made before hiring in a company. After getting the job, your demands will not be entertained a great deal because you would’ve signed terms and conditions already. You can be benefited a great deal in the long run if you are successful in convincing authorities for a pay slightly higher than they were initially willing to pay. All the increments down the road will be according to the basic pay at the start. Suppose you are able to get 10% more than initially was set for you, then you get allowances according to a percentage of basic pay and it makes a huge difference on ad-hoc basis.