Does it make you nervous and uncomfortable to start a salary negotiation with an employer? Or the pay offered does not align with your academics, skills, and experience? In both cases, you might be looking for an effective way to start a salary negotiation.
An employer will include a salary and benefits package with a job offer. It is normal to want an increase in the offered amount based on your skills, expertise, or job-related expenses. But how will you deliver your salary negotiation with confidence?
Check out our six tips with examples to start a successful salary negotiation.
Tip 1: Evaluate Your Worth
Before negotiating your salary with an employer, it is critical to conduct a self-evaluation. Consider the following factors to demonstrate how much value you can bring to a company:
- Previous Experience: If the employer is looking for someone with 2-3 years of experience in the industry and you have more experience, it might help you negotiate a higher salary.
- Your Academics: You can also mention your degree or high grades to demonstrate your skills.
- Extra Skills: An extra skill is always a plus and may help to negotiate a higher salary.
- Geographic Location: Consider mentioning your living costs according to your geographic location. For example, you can ask for a higher salary to live in San Franciso than in Sedona.
Tip 2: Do Relevant Research
Salary negotiations cannot be a blind game. Do your research about the average salary range of the position you have been offered. Knowing the average market range can help you establish a strong baseline for a successful salary negotiation.
For example, if you have been offered a managerial position in a software house, conduct your research by finding answers to the following questions:
- What is the national average salary for a software house manager?
- What is the expected salary of a software house manager in your city or nearby towns?
- How much do other companies pay software house managers?
Tip 3: Have Confidence in Yourself
Deliver your salary negotiation with confidence. An employer has a keen sense of detecting a lack of confidence or hesitation. Therefore, the more confident you are, the more an employer will consider your objectives.
Have confidence in your abilities, experience, and skills. Prepare to answer any questions about your resume and have confidence in your ability to help the hiring company grow. Lack of confidence can lead to being defensive and over-explaining, neither of which is beneficial in salary negotiations.
Tip 4: State Job-Related Expenses
An employer may also consider the additional expenses you will incur due to the job. For example, if the company is a long distance from your home, you will have to bear the train fare, fuel charges, or wear and tear on your vehicle. Therefore, you can negotiate to adjust the salary according to your job-related expenses.
Tip 5: Be Ready to Answer Tough Questions
You can expect your hiring manager to ask some tough questions between salary negotiations. It is crucial to get ready to confidently answer the questions to impress your employer. He can ask the following or similar questions during a salary negotiation:
- How much travel expense will you have to bear to get to the office?
- If we agree to your demand, will you join us immediately?
- Do you have a flexible schedule and put in extra hours when necessary?
Tip 6: Be Flexible
It is not necessary for an employer to immediately agree to your salary demand. In this case, consider being flexible and looking for alternatives. For example, if the employer refuses to pay a higher paycheck, ask for extra holidays, annual bonuses, insurance policies, etc.
The Bottom Line
Negotiating and discussing your salary with an employer is your right. However, the more polite and prepared you are, the better your chances of winning the argument. You may be surprised to know that almost 70% of employers keep a margin while making a salary offer and negotiating a salary at the time of hiring. So, start a salary discussion with confidence and use our tips to make it a success.
