Top Tips to Negotiate Your Salary Like a Pro : Jobs Near Me
Negotiating for a job was never easy. There are hundreds of people competing for a role, and given the current pandemic, it is even harder than ever.
When you first receive a job offer, your employer will possibly present you with your compensation package and other benefits you are entitled to. But, there are many situations you can put yourself in that may make it harder for you to negotiate a salary.
Consider the following situation: you are desperate for a job, or maybe you are a fresh graduate and have no prior experience. Your recruiter states that they see potential in you, you are likely to do great, but your skill sets and experience level do not meet the level we are looking for, so if we offer you a compensation offer, will you accept it?
In another scenario, you are between a series of interviews in a big firm that you hope to work for, and suddenly the hiring manager cuts to the chase and says,” We have shortlisted a few candidates. We really like you and think you will be a perfect fit for the role. If we offer you a package now, will you be able to accept it?”
In both the scenarios above, you are put into a situation where you have very little room to negotiate. These are some everyday situations that you are expected to face, and in this article, we will look into how you can effectively negotiate your salary and other benefits.
Understand industry standards and salary trend
Before you go running to negotiate your salary, it is essential to understand the industry standard and salary trends. Make sure you know your responsibilities and pay attention to how you can contribute to the company’s success. Suppose you think you are offered below the industry standard or believe that your skills are in demand. In that case, your hiring manager may have a tough time finding the right person with the correct balance of skill and experience and may be willing to negotiate a revised salary with you.
Tell them what you bring to the table.
Employers and hiring managers are looking for ways you can leave an impact on their business. So, if you can prove your worth, you can negotiate your compensation effectively. Several factors go into how effectively you can negotiate your salary.
Experience: Many hiring managers value experience above any other skills. Having the right set of experiences will allow you to create a value that hiring managers can not overlook. Also, look at what the minimum requirements of the job post you applied for. If the job requirements say 1-3 years and you have more than three years of experience, there is a high chance that your future employers might be willing to negotiate.
Education: Relevant bachelor’s, master’s PhD, or other specialized degree programs may impact your salary based on the job or the industry. Higher education or being certified for your skill can go a long way when negotiating your salary.
Skills: Many big companies and corporations are steadily putting much emphasis on skills. Many technical jobs like IT-based and programming based jobs require impeccable skill sets to succeed. There is always a shortage of highly skilled employees, so if you possess the right skill and can prove to the hiring managers of bringing value to their company, you can easily negotiate a good compensation package.
Certification: Employers may demand or require specific certificates or licenses. If you already have these, then you could be in a position to negotiate for higher compensation. When you start negotiations for your salary, be sure to state your reasons for being a great team member. Consider using these factors to justify the salary you want.
Confidence in your negotiation is just as vital as the words that you choose to use. The more confident you appear, the more assured the employer will feel about the way they evaluate your request, as confidence attributes to the capabilities and talent you possess. But remember, there is a fine line between being confident and being arrogant, you would not want to cross the line. Insufficient confidence could cause you to over-explain or apologize for the request, neither of which are beneficial in a negotiation. Instead, be confident and concise and describe your salary request with a brief explanation of your argument.
Keep in mind that you’re providing essential skills and knowledge to the company. The salary an employer offers must reflect the value you offer. If you think the company’s initial offer is not at an amount that matches your abilities and experience, be prepared with a thorough study of market research on salary and personal data on value to support your request.
Share job-related expenses
Another reason to seek a raise is the amount you have to pay for choosing the job in the first place. For instance, if you’re moving to a different city to take the job, it will be necessary to pay costs for moving and any other expenses associated with leasing or selling the home you currently reside in. If you’re working farther away from your home, you’ll need to include commute costs like train fares or gas as well as wear and tear on your car. It’s not uncommon for applicants to ask employers to alter the salary to accommodate expenses associated with taking the job.
It is also essential to be flexible at your end and understand the constraints that the hiring manager may have. If the employer isn’t able to pay the amount of salary you’d like to have, you’re likely to be offered alternative types of compensation. For instance, you could be able to negotiate additional stock options or vacation perks as well as a sign-on bonus or additional work-from-home days to ease the burden of a long commute. Prepare to request alternatives if the employer informs you immediately that they are unable to increase the pay offer. In certain situations, the alternatives could be just as important (or greater) than a salary.
These are some techniques that are proven to help you negotiate your salary and other compensation benefits. It is essential to understand that there is just no room to accommodate your request, and perhaps you either have to accept the salary the employee offers or be prepared to walk away.
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