What are your salary expectations?
This is considered as commonly one of the first questions you are asked when interviewing for a new job. As a job hunter, you are trying to both get the job and obtain the highest possible compensation. In order to negotiate effectively, it is better for you to know some really-work salary negotiation tips. Here is how to do it:
Salary Negotiation Tips – Tips For Negotiating The Best Salary
1. Do Your Own Research
The first one in salary negotiation tips introduced here is to learn much more about the pay scale of the enterprise that you want to apply for or wants to hire you.
Also, you need to study about the average salary of that industry. Though you might desire to work for an airline, but in case the company’s practice is to hire from within, you may need to accept an entry-level position. However, union constraints might limit the flexibility on salary levels regardless of the numbers of university degrees you have. Another important part of the research, you should also figure out the minimum level of salary expectations. Find out the deal-breaker point you can afford as well. Knowing what you are willing to accept before walking in the door will help you prepare your emotional state for the negotiation. There are many candidates who never give themselves an opportunity to negotiate a higher salary as they do not invest enough time in thinking about this problem beforehand. Do not get locked in such a bad position as you are not sure about the salary level you will accept in the first place.
2. Keep Track Of Your Achievements
The greatest tool which you have in interviews is your achievements’ proof. Have the facts to support why you deserve what you are asking for and also do not afraid of asking for it.
Therefore, you should keep examples of the work you do the best, thank you notes from your customers, and recognitions and awards. If you want to compensation, then you had better show how you will compensate that enterprise by gaining its targets. So, be well prepared to sell return on investment. Showing them how you could make or save money for your previous or current company? Be ready to cite specific situations and explain how those examples relate to the position you are being offered.
When you explore the critical factors towards that company, and how you could meet those demands, you will be able to use these proofs of your value. In fact, it is much easier to negotiate a better salary once you have proof of your worth.
3. Know How To Provide Value
It might take from you effort as well as time, but if you could find out ways to address your specific demands of an enterprise, then you will have enormously more leverage when talking about the desired salary.
It is said that the best way to find out the company’s needs is to talk with some current employees of that company. As doing this preliminary research, you had better not spend time talking about yourself, but letting them know that you are trying your best to work at the company. Concentrate on finding out what is important to them.
4. Do Not Be The First Person To Budge
The single biggest mistake that most people make when it comes to salary negotiation is to tell the interviewers what you would be willing to accept.
Because the majority of interviewees do not like being pressured; therefore, they blurt out a number of that they are willing to take. Nevertheless, the best way for you to negotiate successfully is that you should not be the first person to name a number.
In order to avoid this common pitfall, you should ask about the salary range at the first time of meeting an interviewer.
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5. If Possible, Ask For More Than They Could Give
There is low hanging fruit in each salary negotiation. Often, the interviewers will sell interviewees on what the “gold mines” are without providing enough essential information.
Your task now is to make them quantify every aspect of the package of compensation that they offer you. You should not settle for general percentages or figures. You could be sure that each single piece of the package has a dollar amount assigned to it. To get it, you should ask the recruiters to add everything up in dollar amounts.
6. Be Reasonable
From the research of your own, you may know the offer is low. So, what will you do to resolve this problem? If you choose 10%, you might have to accept a level of 5%. So, do not be confrontational. It is a calculated-risk to walk away from a job offer. Maybe, they will call you back with a revised beginning salary or even close your file for hiring other people if they think you have been greedy, overly demanding, or arrogant.
7. Believe In Yourself
In some cases, the sole way to get a higher starting salary is by being actively sought for your own position. In other cases, you might need to illustrate your exact skills which meet the demand of that company and if you play your own cards right, you will be able to land the job you want at a salary level beyond your usual dreams.
In reality, just being well-prepared, making use of some psychological techniques, and applying innovative marketing and negotiation skills will assist you in maximizing your salary.
Believe in yourself so that you can negotiate confidently. While it is hard to find a job in this market, once you are chosen as a potential candidate that an enterprise wants to hire, then you have an excellent position of negotiating.
8. Delay The Discussion
Remember that if you ask about your demands before the enterprise has decided that they are willing to hire you, you should delay the current discussion. In fact, it is not all about the money as mentioned above. If this is the right job professional for you and you are the right person for that professional, both two sides will work out the details.
9. Be Responsive, Yet Try Not To Commit Early On
When talking about your own current or recent compensation level, you should ensure to distinguish between the “total” and “base” compensation. Then, avoid concentrating too much on salary, but referring about the main purpose of the conversation at this stage, from your own perspective. This will help you determine if the recruiter and you can fit each other.
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10. Use The Magic Four-Letter Word
When it comes to salary negotiation tips, if people are eventually willing to address the salary, as recommended above, they should let the company go first in order to maintain security. Experts suggest responding with a four-letter word. The magic word is, “Hmmm”. When they go first, you will compare their current offer with what you researched previously. Respond with the researched response. Keep in mind that, you have just proven and demonstrated your value through this point.
Read on: magic words to use when communicating.
11. Create Fairness And Finding Common Points
Keep in mind that it is really imperative to maintain a friendly tone, and develop your arguments based on objective facts, not your particular demands or desires.
You could go far by asking probing questions with a friendly smile. Sometimes, when you say something, there will be counter arguments coming from the other side, leading to entering of alternate facts during the discussion. If you negotiate based on facts and principles rather than desires and whims, you will show yourself to be reasonable and a solid professional. Though it is actually difficult at this point to argue against fairness, you are still great on your way to the best possible compensation for the value you bring to the new job.
12. Do Not Stop Negotiating Too Soon
The best negotiators will not shut down on the first signal of resistance. Rather than that, you should clarify questions and elongate the conversation. You will never know where that conversation might go. For many people, they tend to think too much about negotiations, making them feel uncomfortable. That seems as if they always look for the first opportunity to escape. However, just several minutes of discomfort could lead to long-lasting effect on your financial security and career.
13. Keep It Professional
Whether it is right or wrong, for a lot of people, money is closely connected to self-worth. If you are one of them, then you had better learn to be professional as well as optional during negotiations. However, this is usually easier said than done. Assessing the point of view of the company offering and your own will be your next step. Then, finishing each conversation with your “thank you” saying or writing.
These above salary negotiation tips, hopefully, will help negotiate successfully and get a higher salary. If you feel this article of salary negotiation tips is useful, then leave your comments at the end of this post to let us know your thoughts. We will feedback all soon!