The Art of Salary Negotiation
Preparation is just as important for salary negotiation as it is for the interview. If you aren’t prepared you hand all the aces to the employer.
Negotiation skills will stop you from securing your dream job, on a nightmare package.
These tips will help you get the deal you really want. They’ve been proven where it matters, in the cut and thrust of negotiation. It’s all about what works.
The real meaning of negotiation
www.answers.com describes negotiation as “the process of two individuals or groups reaching joint agreement about differing needs or ideas”.
Good salary negotiation is a win-win for you and the employer
The key thing is that salary negotiation involves both of you. It’s a mutual give and take. This is what the employer expects. You’re not rude or uncooperative for trying to get the best deal for yourself.
Did you know that the most likely time to secure major increases in salary are when moving to a new employer? Make the most of this opportunity!
Salary Negotiation tips
Decide your priorities
• The first step to getting what you want is knowing what it is. It will make you far more effective in the nitty gritty of negotiation. Consider what you would be willing to give up, and what you would want in return.
• ESSENTIALS – List all things that are must. What can you absolutely not compromise?
• TRADE OFFS – List things you might be willing to trade in exchange for others. During negotiation you can give some of these up during the process, to show you are playing ball.
Timing is everything
• Don’t negotiate before time. The right time to talk about the package is when they have made you an offer.
Know your worth
• The stronger you convince the interviewer that you are the best person for the job, then the more likely you are to do well when it comes to negotiating the package as a whole. Be ready to justify your worth.
• Know what you want, but know the strength of your bargaining position. The more you need this job, the more flexible you may have to be in order to make sure you get it.
See the big picture
• Think of the total package. It’s not all about salary. Even if there is no flexibility on salary you can still improve the overall package by looking at other areas. Benefits and bonuses can be worth a lot to you
Get the right deal
• When asked about salary, never give a range unless you are happy with the lower figure. They will offer you the lower figure. Every time.
• Know the point where you will be willing to walk away.
Keep it a win-win situation
• Don’t volunteer too much information about other offers you are considering unless you’re going to take them. Employers don’t enjoy being held to ransom.
• Don’t move the goalposts. Employers hate candidates who offer up new demands after the deal has been done.
• Even if it sounds like what you are after, don’t accept an offer straight away. Let them know it sounds good, and you need a day or two to make sure. You need to be satisfied with the WHOLE package before accepting.
Weighing up a job offer
How to talk benefits and salary
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