30 December 2013

11 Tips for Salary Negotiations

Negotiating for a salary can be a tough one, especially if you are a fresher; however if you make the right moves you can bargain and land up with the best possible deal. Read the following post to know more about salary negotiations.
Searching for a job is not a cakewalk and landing with the job that you want has definitely got more than to do with than just obtaining a degree and appearing for an interview. It goes without saying that salary plays a significant role in search for a job even if it’s a fresher’s job. So, throughout your process of job search, always seriously consider the method of salary negotiation. Take into consideration things like—your qualification, your worth and of course how much should you be paid for the job description that they are offering. Though salary negotiating is something that hiring managers are more experienced at, but even as a fresher or an experienced candidate, you must end up negotiating properly for your salary.
Make a List of what you have to Offer
Know your forte and what all you have to offer to an employer. Make a proper list of all your skills, talents, abilities and knowledge. Always be prepared to show your employer what value you can bring into the organization.
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Try and Make the Employer Schedule Work to your Advantage
Firstly, find out how soon they need to fill the position and also how many candidates have been considered for the position. If the position is somewhat crucial and that needs to be fulfilled and you have an edge above the rest, they will obviously give you additional negotiating powers. Do play on this and keep trying your best.
Wait for the Final Offer to Come along
Always wait for the final offer that they make you and then start discussing your salary. Discussing salary until you have been offered the position, will not make things work easily.
Express Interest in the Job Profile
This is probably the first option available; make sure that you show enough interest in the job profile and always let the employer know that you are truly looking forward to it. However, do express interest but do not overdo it. Even if you are a fresher and you are anxiously waiting for your first job offer to come along, show your interest in a controlled way. You are interested but, may be the employers can work upon the compensation package.
Avoid any kind of personal discussion
Never discuss monetary needs of your family or any kind lifestyle expenses. It will never take things far in your job scenario.
Be aware of your Absolute Bottom Line
Know what should be your minimum salary package should be as per industry standards and then move forward with the negotiations. Although it is advisable that you do not raise such topics like package as per industry standards, but always keep it in mind before you begin your negotiations. Make sure any amount you quote is definitely slightly higher than the absolute bottom line figure.
Keep Yourself Abreast with Salary Options
Chalk out three proper salary figures for yourself – the minimum amount that you are willing to accept, an offer that you would accept willingly and the final one that you would ideally quote. Provide employers with a proper salary figure ranging between – middle to high range.
Understand that Employers do have a Budget
Well, yes all employers have a fixed range in mind—a proper chalked out budget. They begin with the absolute low end of the budget; this opens up room for negotiating with salary packages. However, this does not imply that they will end up offering you less than what you deserve. What they usually do is, leave the decision upon you demonstrate your value within the job market.
Allow the Employer to Bring up the Salary First
When your employers ask you about your expectations, answer back in phrases like, “I would consider an offer that is reasonable in every respect”. If the employers raise the question of salary too early, you can do away with statements like “.. I would like to discuss salary after I can understand the actual position and how my experience in the organization will benefit me.”
Employers prefer Candidates who are good at Negotiating
Potential employers always look for candidates who are good at negotiating. The method actually simply reinforces the idea that they have actually made the right choices in offering you a suitable position in the organization. They can always have the feeling that since you have kept your best interests in mind, you might be the right candidate who would look after the best interests of the organization as well.
Be Prepared to Advertise/ Market your Skills
Always emphasize as to why you are best suited and can justify the role completely. Do analyse your weaknesses; listen to all the questions that they ask and then answer after you have contemplated and thought over.
Negotiating for salary as a fresher can be a little tough; but always remember to play on your expertise and what can you offer to the organization. You might just end up getting whatever you always wanted.

Author Bio: Sampurna Majumder is a professional writer and a passionate blogger. Currently she is writing content for several websites such as Naukri.com that cover latest trends related to jobs and work related issues in the world and India in general such as these as well as other fields. The above post gives tips to negotiate salary.


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Debbie Alen said...

extra ordinary tips and advice...thanks for sharing!!

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Helen Keyes said...

As jobs become difficult to get...these tips are so important.
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