The overwhelming reason candidates decide to explore new options is to get a better salary. At the same time most candidates are not sure – as to how to approach this tricky topic. Some are upfront about it and risk loosing their candidature. And there are some who are too nervous to even discuss this topic.
How does one go about managing this delicate issue of negotiating ones salary ?
Here are a few simple tips, to overcome the butterflies in your stomach and negotiate your salary in a clear and confident manner.
What is the likely salary for the position you are applying for ? You must keep in mind that organizations base salaries on what they pay currently to fill similar roles. Some homework to find out the going rate for the position can be of help. You can do this by asking your friends. Linkedin is a another great place to sound it out with your extended circle. There are social sites like salary.com and job portals which help you get a ballpark.
Wait it out…
Initiating the discussion about money will make you seem like a money chaser. You run the risk of appearing greedy and a misfit to the organisation. Better option would be to wait for the prospective employer to bring up the topic. This typically happens after a couple of rounds of discussions. This approach places you in a better position to negotiate as now the choice is yours – whether to accept or not.
Take your Time
Once an offer has been made take a couple of days to revert. Use the time to get clarification regarding all aspects of the offer, both cash and non – cash benefits.
Don’t just go for the Cash
The prevalent mind-set amongst most candidates is to get all the money in hand. This approach backfires when you don’t take into account the non-cash benefits the company has to offer. This could include enrolment to continuing education programs, meal vouchers, medical benefits, travel allowances. All this can add upto sizeable benefits in the long run -which you tend to miss out by focusing solely on the cash benefits.
Keep the salary out of your resume
Avoid mentioning your salary in your resume.Why disclose your salary in an open document like your resume. Unless specifically asked for you are not expected to mention your salary.
Citing your financial compulsions
The salary your company pays is for the skills and experience you bring to the table. Your home / car EMI should not be used as a negotiating point. Neither can your child’s schooling expenses.
Quality of Life
If a higher salary entails a miserable life for you-due to reasons of company culture, location or the nature of work- Think again. Be clear about what you are going to sacrifice in return for monetary gains.
I hope you found the tips to be useful. In-case you have any clarifications you can mail me on firstname.lastname@example.org