How to negotiate salary?
Negotiating salary is an important skill that is useful for everyone. For both employee and employer, the issue of finances is a key issue. Nowadays, the job market is becoming increasingly competitive. Many people are reluctant to talk about money. Negotiating salary is still a difficult subject for employees to deal with. It is a big challenge, so it is worth preparing for it. How do you take care of your own salary? How to negotiate salary and what to avoid?
TABLE OF CONTENTS
- Principles for agreeing on remuneration
- Negotiate the terms of the offer – not just the salary
- How to negotiate salary at a job interview?
- What to avoid during a salary interview?
Rules for agreeing remuneration
Negotiating salary regardless of our stage of employment is of paramount importance. The financial range we receive at the start of a job can be crucial to our career in the company. How do you approach the negotiation? Here are some valuable tips on how to negotiate salary.
Preparation is the most important part of negotiation. Before we go into a conversation, we need to analyse our current situation. Let’s first consider how much we want to earn and what our financial expectations are. To do this, we can look at salary reports and check salary ranges for a similar position. Another option is to interview friends in the industry. Be confident!
Choose the right moment
If we want to have a salary interview with our supervisor, let’s choose the right time to do it. Make an appointment in advance. Do not do it in the corridor, on the way to or from work. The other party, i.e. our supervisor, should also prepare solidly for this.
Prepare a list of your strengths
How do you negotiate salary? It is best to use substantive arguments. It is advisable to use arguments that show that your application is unique. Preparing a list of strengths can help to convince the interviewer of our value.
To do this effectively, you need to carefully analyse your skills and character traits. Consider what strengths you possess and how you present them. It is also worth taking into account your past experience and successes.
Prepare a list of yours in advance:
- key skills
- completed courses
- qualifications obtained
- the results of your work to date.
If you know you are a valuable employee with high qualifications and experience be confident!
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Negotiate the terms of the offer – not just the salary
Remember that negotiations do not have to be about financial issues alone. There are many other non-wage elements of remuneration. In addition to monetary benefits, we can apply for all sorts of perks. However, it all depends on our company. Such additional benefits for the employee are:
- private health insurance
- Multisport card
- company car
- additional holiday
- life insurance
- various types of subsidies
- training budget
How to negotiate salary at interview?
Many of us, before a job interview, have wondered how to negotiate salary. It is worth preparing for this in advance. If there will be no financial information given in the ad, do some research on the job market. Let’s check what the average salaries are for similar positions we are applying for. Let’s not forget about our experience. It is also crucial in negotiations. Also consider the size of the company and the possibility of employment in our region. This information can be crucial when negotiating salary at an interview.
Remember! The salary should not only be satisfactory for the candidate, but also realistic to achieve. Negotiating salary before signing a contract can be done in 2 ways:
- you can give a range or the rate you expect
- increase the rate from the advertisement by 10-15% compared to the average salary for the position.
When discussing remuneration, we should not quote a very low rate. Such a situation may close the way to better terms of cooperation. It will not necessarily increase our chances of getting the desired position.
Excessively high financial expectations mean that we may be excluded from further recruitment. During negotiations, we must remember that the most important quality is the ability to negotiate and convince.
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What to avoid during a salary interview?
Talking about salary is very stressful for some of us. It is important to remember that there are issues that we should avoid when talking about finances. First of all, you should behave appropriately and professionally at the interview. It is important to maintain an open attitude. We must not focus only on our own requirements. In most companies, employers provide their employees with numerous benefits, training programmes or other amenities. To some extent, these make up for the difference in our expected salary.
When negotiating, let us avoid citing our living situation as an argument for a higher salary. Unfortunately, our salary does not depend on the difficulties in our personal lives.
Such reactions, like emotional behaviour, should be restrained. The same will happen if the employer himself offers a much lower salary than we expect. Even in such situations, it is worth showing professionalism instead of arrogant behaviour.
Talking to an employer about our salary is not easy . For some people it is a very stressful situation. That’s why it’s a good idea to prepare for it in advance. Research the labour market and the salaries for a similar position. You should also develop a negotiation strategy. Consider the arguments in your favour, the financial possibilities of the company and your financial expectations from the employer.
When talking to your manager, be confident and communicate effectively. It is also important to listen to the other party and understand their point of view. Remember that your remuneration is not only about salary benefits, but also many non-wage benefits. It is worth negotiating such remuneration packages. Regardless of the outcome, let’s maintain a good relationship with the employer.
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