Salary Negotiation: Areas that matter for a first-time job aspirant

Salary Negotiation: Areas that matter for a first-time job aspirant

Let’s have a look at some tips on areas which make the most impact for a first-time job aspirant during salary negotiations.

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The right ways of salary negotiations. (Robert Walters Malaysia)
The right ways of salary negotiations. (Robert Walters Malaysia)

It’s a challenging phase in life when you are finally transiting from your college days to your professional life. More than getting a job, it’s difficult to get the right job, without much experience, even though justified. It’s not only the work experience that leads to a good, well-paying job, but some hand holding as well when it comes to negotiating salary.

And especially for your first-time job, it can be a really tricky task. So, how do you do that? Let’s have a look at some tips on areas which make the most impact for a first-time job aspirant during salary negotiations.

Make a Note:

Understand what has been offered to you. Really deep dive into it – understand your CTC, your salary structure and then understand what is lacking in it. And then think hard, before presenting your case.

Be prepared to explain:

When you ask for an increased remuneration than offered, you will have to present your case with full details of value additions that you are capable of making to the company. You should have realistic grounds on which you wish to negotiate your salary. The best position to negotiate is when you have multiple offers and you have the skills to tactfully inform your recruiters about the many skills you possess apart from just academic. In brief, be prepared with all pointers to rest your case.

The best position to negotiate is when you have multiple offers and you have the skills to tactfully inform your recruiters about the many skills you possess apart from just academic. In brief, be prepared with all pointers to rest your case.

Consider the whole picture:

While assessing an offer, don’t consider only the monetary compensation for the same. You have to check for the other non-monetary benefits to which you are entitled to. In addition to the salary figure, things like tuition reimbursement paid leaves, and employer’s contribution to various funds and many other allowances play an important role in your analysis. So, don’t just focus on negotiating your base salary but additional allowances as well, if they aren’t being offered.

Check if it’s the right time (Negotiate at right time):

Wait until you completely understand all your package benefits. Don’t initiate the money talks during the screening phase of the interview. If your potential employer takes up the talk regarding the same in the early stages of recruitment, then you can ask the recruiter to provide you with a salary range and suggest revisiting the subject once your role has been discussed in greater detail.

Get your priorities straight:

“Never chase money, chase opportunities”

One of the most important question to be considered before accepting any salary structure is to determine “What is more important for you”.

This will surely assist you in establishing how much you are willing to take up or how much you can deviate from your ideal working terms. Also, it is important for you to know that ‘when to say NO’. This means if your basic requirements are not fulfilled during negotiations, you must know how to reject the offer.

Detailed research (understand your job clearly)

Before you sit down to negotiate your salary, you must have done your homework. Career growth is of utmost importance at the beginning of your professional career. So, along with salary, what needs to be researched is, the growth prospects of your career in the field you are being offered.

Also, you have to think that whether your skills and experiences worth more than you are being offered. A detailed review of your role will also help you put up a confident front in front of the employers, as you will have all points to explain once the topic is up on the table for discussion.

Conclusion:

You need to be smart about how much you are asking for. No doubt, everyone wants their salary to be a brilliant amount but don’t miss out on a good job opportunity keeping an unrealistic figure in mind.

There’s an unsaid cap to what fresher jobs offer.

And more importantly, it’s not the end of the world. You will get many opportunities in the future where you can prove your worth and bag a much heavier amount than you are being offered now!

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