The most stressful part of applying for a new job can be when it comes time to talk about pay. Many people do not feel comfortable asking for a higher salary than what is offered when they are employed. The good thing is that most managers will give you a chance to consider the offer and won't expect an answer right away. In this article, we reveal tips on how to negotiate for salary, which can help you tactfully and confidently ask for what you want. These rules may also apply if you already have a job and plan to ask for a raise.
1. Familiarize yourself with salary trends in the industry in which you work
You should go into salary negotiations with as much as possible information. Information is your strongest ally. To get a current, realistic view of the state of your industry, subtly ask your peers and the market. Once you find the current salary for your position and experience level, you can adjust your expectations.
2. Build “your case”
Don't just counter with a bigger amount. Even if your research supports this, you will be more successful if you explain why do you think you deserve more. Emphasize your strengths and detail any benefits the company would receive from someone with your experience. Before negotiating salary, write down specific examples of how your skills and experience will benefit the company's bottom line. Certifications or specialized technical skills can enhance your ability to do the job, so be sure to mention them. By matching your strengths to the role you're taking on, you'll make a strong case for why you should be paid more than the original offer.
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3. Be fair and consider all benefits
It is the most important when negotiating salary complete honesty. This is important because the hiring manager may discover that you fabricated a competing job offer or inflated salary amounts for past jobs you applied for. In addition, wage negotiations often involve providing employee benefits. For the employer, it may be cheaper to give up additional vacation days, flexible working hours or, especially in today's conditions, work from home than to increase the salary.
4. Consider what is valuable to you and what would make the offer more attractive
If you are considering several offers, remember to directly compare all the benefits before making a final and correct decision. Also consider benefits such as professional development opportunities with a potential employer.
5. Practice your conversation
This may seem excessive to some people, but it is a good idea to ask a colleague, friend or someone close to you, to practice the conversation, which you will likely have with the hiring manager. The ideal partner is someone from the corporate sector, someone who knows the business and can teach you to show confidence and answer unexpected questions.
6. Know when to back off
A reasonable employer won't withdraw an offer just because you tried to negotiate, but delaying negotiations and making a decision can leave a bad impression on the person you interviewed for a job or promotion. If the company cannot meet your requirements after a few conversations, the respectfully withdraw and focus on opportunities that better meet your expectations.
7. Request everything in writing
Once you've agreed on a "compensation package" with the person you're negotiating with, ask for it written documentation. Make sure the document is signed by you and the employer. Some companies do this automatically as part of the employment contract, but if not, ask for some sort of informal documentation.
8. Stay positive
As much as we may hate this part of the job, don't be fooled, the same goes for employers, they don't like to negotiate. But remember that your future employer is not your adversary. Conservation positive tone during salary negotiations and benefits will help you conduct these discussions more effectively. If you want a better starting salary offer, you need to ask for it. All too often, job seekers accept the first offer "on the table". But whether the economy is strong or uncertain, employers want to bring in people with special skills and expertise, who can help them the most. Homework, tact, and confidence are the keys to your success in salary negotiations.
