Tips to Master the Art of Salary Negotiation

Did you just do well in an interview and expecting a call from the HR manager? It sure must be exciting, but what about the terrifying part of salary negotiation? Some people are confident while negotiating while some are a nervous wreck while discussing salary with the hiring managers. This is a challenging task which requires a back and forth conversation between you and the employer until there is an agreement on a package that both parties accept. This is a tricky process, and it is important to make sure that this discussion ends in your favor.

Master the Art of Salary Negotiation by following the tips given below:

Know Your Worth

Before you go ahead with the salary discussion, browse through websites like glassdoor and payscale. Research over the kind of salary you should be getting as per your experience and skills. You can not negotiate well, or even reason with the hiring manager if you do not know your market value. You are worth more than you think you are! You don’t have to settle for something less.

Do Not Accept the Offer Immediately

While you are negotiating salary with the hiring manager, make sure you don’t say yes to the first offer. It does not mean that you have to refuse the offer made, instead ask the recruiter that you need a little time to think about it. Decide a deadline with the recruiter! Sit down and think if the salary offered is fair or not. If you feel like you deserve more, go ahead and say it, but do not accept it immediately.

Do Not Share the Numbers First

One of the most common questions hiring managers ask while interviewing you is “What are your salary expectations?” This definitely is a valid question but make sure you do not share the exact numbers, in fact in most cases avoid sharing a number at all. At times organizations have a much higher salary in their mind than your expectations, but they immediately settle if your quoted salary is lower. Give them a chance to quote numbers, and then think about it before proceeding further.

Think About the Additional Benefits

Many job seekers often forget to negotiate additional perks. The sole focus is on the take-home salary, whereas salary negotiation is much more than that. While negotiating with the employer, ask them about the health benefits, vacation time, bonus, travel allowance, and anything you feel is necessary. Hiring managers often have the budget to provide you with these little perks but skip, because no one asked them.

Keep A Straight Face

You need to keep a straight face while discussing your expected salary with the hiring manager. Even while you’re discussing it over the phone, you need to maintain a straight face. Salary negotiation is like a roller coaster ride. A lot of your emotions like sadness, fear, excitement and even anxiety are on the surface, but do not let the other person know. Portray yourself as a professional with a positive attitude.

Confidence Is The Key

To master the art of salary negotiation, you need to know that confidence is the key. It wouldn’t matter if the number you quoted is a little high. If you say it confidently, it might just work. As soon as the recruiters feel like you are confident, they know that you are firm about the numbers, and won’t change your mind. Make sure you don’t come across as rude or adamant. Understand that it is not a fight. Be nice, and just state your expectations clearly.

Balance Between Expectations & Employer Budget

Despite the market rate, every employer has a different budget. Know what is the maximum your employer can offer, and play around the same numbers. In case if you demand a salary which is much higher than what the organization can offer, you may end up losing the offer. A small non-profit organization can not offer as much as an MNC can! If you feel the job is perfect for you, and you see potential growth, go for the job.

Salary negotiation can be exhausting but is an important part of the process. By following these rules, it will not be such a hassling task.