Get Paid What You’re Worth: 5 Salary Negotiation Essentials
How to Talk About Your Salary: 5 Things You Should Remember
After successful interviews, you’ve been offered a job, but you’re only partially happy with their salary. So, should you talk things out? Yes, without a doubt.
An American poll found that 85% of people who made a counteroffer on pay or perks got at least some of what they asked for. However, 58% of those polled took the first offer without bargaining. When discussing pay, most people say, “Ask, and you shall receive.”
The following are five things you should remember when negotiating a new job’s salary:
The fact that a company puts its pay offer right in the job description is a good sign because it clarifies the hiring process. Applicants and the company save time because they can decide if they should put in the work based on the pay range.
It never hurts to send a counteroffer, even if the pay they offered you is within the range they first gave you. By negotiating, you can ensure that their package aligns with market rates for the role and the industry. Do your study before negotiating to get the most out of your deal.
Ask how much they spend.
Some companies give less than they want, so don’t feel you need to accept the job at the end of the interview. Show them that you know what you’re worth. Other people will ask for your last pay and base their offer on that. According to one report, employers do this to keep wages low for new workers and avoid making wages too high for present workers.
Please do not fall into that trap by giving them the exact amount. Doing so lets your past determine your future when you should be focused on your market value, which is based on your skills and the standards in your field.
Instead, ask them how much money they want to spend. When you get back to them after they tell you their limit, could you give them a range? This lets the company or hiring manager know you’re willing to talk things over while giving them helpful information.
When you have more than one offer, you have more power to negotiate.
Nothing makes a company want to hire you more than hearing that others want to hire you. Getting more than one job offer shows the potential company that you are a good candidate because you are valuable and in high demand. The company will likely offer you an excellent salary to work for them. When bargaining your pay, ensure they know about your other offers. Then, use these offers to get better pay from the company you want.
Also, if you get more than one offer, you’ll have to decide by a specific date whether to accept or reject it. This will force the company you want to work for to make a fair offer by a particular date.
Don’t just talk about your base salary.
Some people forget that pay is more than just a salary. Most companies offer different benefit packages that add to your pay and make them more appealing as a workplace. Indeed, it provides several benefits you can negotiate, such as signing or hiring bonuses, stock options, vacation time, and money to help with transportation.
You can also discuss opportunities to work from home if that’s important. This also allows you to discuss work plans and see if the other person is open to flexible hours, shorter workweeks, or other options. You can always discuss getting accommodations that fit your wants and preferences.
Don’t fight them; work with them.
When discussing different parts of the job offer, being polite and acting correctly is essential. Don’t be mean to the person you want to work for; instead, look for ways to reach a shared goal together.
Find out what the hiring manager’s salary requirements are and what their goals are. Then, look for ways to work together to benefit both of you.
No matter the result of the negotiation, thank the hiring manager or potential employer for giving you the chance to talk about salary and how excited you are to join their team. Best of luck, and I hope your talks about negotiating your pay go well!
Here are some related articles from your friends at Your Career Place.
https://yourcareerplace.com/jeffs-blog/salary-negotiation-may-4
