In your job selection process, of course, you’ll hope for getting the best salary package from your boss. So how to negotiate a salary offer befitting your skills and qualifications and the recent boom in market need for talent? Yup, the recruitment sector has at least started improving, with 34 of 42 nations reviewed by the Manpower group pointing an ultimate growth in the proposed headcount for the first quarter of 2014.
If you have several job opportunities, you can enhance your negotiation skills. Practice with a companion you’re so-so about working for. If you are feeling positive, try for the companion with a great offer. Remember, if they are pulling off, then you’re the leading candidate. Use this ability to your favor.
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How To Negotiate A Salary Offer
The following are the great things to keep in mind while negotiating:
- Don’t negotiate until you have a bid in writing. Let the boss proceed first with the offer. Nevertheless, if they ask you first, tell your salary range (that you decided with the Circumstances in this deal).
- Restate their offer, and then process it. Maintain an honest but non-emotional reply (including body language) according to your research.
- If it is less than you look forward, suggest that it is lower than you anticipated per your research. Be ready to assert the sources of your research.
- Counter-offer with your experiment-based reply and expected range. Stay polite, objective, and optimistic.
- Never accept an offer straight then and there. Ask when they have to know your conclusion. An upstanding firm does not ask you to reply right away.
Their Reaction and Your Arguments
They might need to discuss with the company and come back to you. Seldom do they draw back an offer as a reason of a counteroffer, but they might if the company is shaking up or downsizing. Promisingly the employer comes back with a wholesome offer. Otherwise, they denote their objection and the offer that endures.
Numbers generally work in salary negotiation just like they do in your resume. Never commit emotion or subjective-based arguments, such as “I deserve it” or “My colleagues actually like me”. Pass positive business-related numbers like, “As vice president, I’ve diminished my department’s employee turnover by 40%” or “I increased yearly sales by $25,000”.
Dealing with Usual Salary and Raise Objections
You might hear any of the following objections. Here are a few ways to overcome these:
Their Objection Your Reply
1. “That’s not within our cipher for the post.”
“That’s all we have assigned for the post.”
- Convey your skills to the employer.
- Convince them to amend the budget allotment for the job.
- Show that the amount is below market value, with the help of your analyzed range (not an accurate amount).
- Convey your interest in the job, but tell that you cannot defend accepting less than the market value.
2. “Other workers with same experience and qualifications aren’t paid that much.”
“You’d be making more than others in this kind of job.”
“No one else has got a raise, so why do you think you have to?”
- Sway them that you have to gain more since you’re worth more. Give precise examples to back your argument (e.g., more experience or more advanced degree than others).
- Propose that they offer you a different job role so you fall into a higher salary package. Bid to take over extra responsibilities to threshold the higher pay. Generally big companies aren’t hurried to smudge job roles and salary levels. But smaller companies not having any standard par-scales may be more inclined to this.
3. “Your pay history doesn’t warrant such an increase.”
“That’s a lot more than your past salary.”
Insist that you look to be paid for the value of your work and what you intend to accomplish within the company. Help the employer understand that past salaries are illogical to this position. Try using these replies in conditions of your situation:
- “Yes, I have been paid less at my previous job. However, I deemed that position for 3 years and the experience I’ve acquired surely justifies an increase.”
- “What I’m paid is less than market value. That’s one reason I’m seeking for a new job. Because of my abilities and new degree, I don’t wish to go with anything less than market value for a new job.”
4. “You haven’t been on the job for a while.”
- Don’t let them have a hunch that you’re ready to work for less, require retraining or are determined for a new job. Let them acknowledge that you offer as much as those with topical experience.
- Insist that your efforts away from job (education, training, personal projects, volunteer work) developed you as an employee.
- Take on a lesser pay and ask for a performance review in 6 months. Ask for a promise that if you reach your goals, they’ll increase you to the market rate.
5. “I’m sorry, but it’s our strategy not to negotiate.”
- Investigate whether this is real about the company. If it is literal, you might have no choice. If it might not be true, say, “I understand you don’t usually negotiate salary. But I’m an oddity, because…”
- Negotiate for effective non-payment benefits.
Recognize when to stop. If you feel the employer getting disappointed with your offerings or tells that this is what they could do, stop and assess the given offer. Do not give the opinion that you are grabby or impatient; you might irritate the employer if you push beyond the boundaries, and they might decline the offer.
When they respond to you with their ultimate offer, be prepared to appraise and choose to accept or decline. As soon as offer and package is accepted upon by means of language, always make sure that they’re about to mail it to you in a signed document (an “offer of employment” letter).
Salary is not the only thing to negotiate. If the employer declines your expected salary or in specific jobs, companies and industries where salary is non-flexible, you still have other alternatives. These other alternatives might be more significant to you and could be flexible.
To better train and negotiate, you may need to ask their HR department to know about options and benefits available. These might include:
- Performance reviews (including percentage and timing)
- Work-from-home days
- Bonuses (performance-based)
- Overtime policies
- Termination contract
- Retirement or pension plans
- Tuition reimbursement
- Health, life, disability and dental insurance
- Employee discounts
- Stock options
- Profit sharing plans
- Vacation and sick days
- Relocation or moving expenses
- Gym memberships or professional association
- Sign-on bonus
- Company car and expense accounts (such as computer expenses)
Check out the video to learn more about ‘how to negotiate a salary offer‘: