Honestly, for most of us, money has been (will always be) a fundamental of working life. We toil all day at our desks only to hear the clattering noise of withdrawing money from the ATM at the starting of each month. Nothing compares to the feeling of earning your own money.
But you have to ask yourself – Are you earning as much as your worth?
Well, since most of you are going to start your professional career now, it’s about time we discussed salary negotiation tips.
In an ideal world, you would get your perfect salary package right off the bat but, in this corporate world, you have to negotiate your way to a worthy salary package.
Most of us feel nervous talking about higher salary, appraisal, and additional perks while joining a new organization. So how do you extract what works the best without alienating the employer?
Well, in this blog we will discuss interview preparation tips like salary negotiation tips that help you get what you want, need, and deserve in terms of compensation.
Salary negotiation techniques
Nobody talks about salary negotiation tips while teaching you about the interview preparation tips. Salary negotiation is by far the most tricky and awkward conversation between an employer and a prospective employee.
However, we must find a way around it. You have to ask for what you want, make your case, and hope that the employer considers your request.
So, here are some note-worthy salary negotiation tips that all of you must be aware of.
Wait for it
It may sound odd but it is the right thing to do. Always remember this great piece of interview preparation tip; the first one to bring up money, loses.
When you prematurely start a salary discussion, it sends out a negative signal that you don’t place a high priority on being a part of the company instead you just care about the money.
In the same way, if a recruiter brings up salary matters right off the bat, you must smoothly change the subject so fully showcase your qualifications, experience and, talent before they even think about your worth.
Do not throw out the first number
You will obviously be asked about your salary expectation. Do not give away to the desire of saying the exact amount you’re willing to work for. Instead, be wise and say that your salary expectations are open based upon the position and the overall compensation package.
You can always swift away from the topic by asking full breakdown of the responsibilities and targets you would be expected to achieve while working.
Remember all the interview preparation tips but do not forget to dodge away from this question.
Treat it as a collaboration, not a war
One of the best salary negotiation tips is to use the phrase ‘Looking forward to working together on this’. This gives a signal to the HR manager that you are willing to negotiate salary to an agreeable level.
Do not serve your final salary quote as an ultimatum to the employer. Instead, play it cool and try to work out a way that works for both the parties.
Think beyond thousands and lakhs
Not always will your salary negotiation tips work in fetching you the desirable bank balance. Sometimes the employers are strictly tied when it comes to salaries of prospective employees.
In such cases, where the job is too good to be traded for another, you must discuss benefits compensation.
Consider what might be worth bartering for, whether it’s extra vacation days, better medical or dental benefits, a gym membership reimbursement, or even commissions. Well, who doesn’t enjoy some extra perks here and there?
Show how you can contribute
Demonstrate your value through the contributions you’ve made throughout your career; especially in your current role. Think of statistics and numbers that prove how you’ve added to the revenue, savings, efficiency, and productivity of your current employer.
If you’re passionate about what you do, all this will automatically reflect in your interview. But the employer must be filled-in with concrete proofs.
So, to make the salary negotiation a fruitful task – Follow the classic interview preparation tip of preparing a quick list of all your achievements and numbers to support the claims.
Be aware of the industry pay standards of the role in question and negotiate accordingly. This conversation with the employer can be a little overwhelming so it is best to mentally practice the whole scenario in your mind.
Do you agree? Well, to aid your interview preparation process, AMCAT has come up with MockAI, the mock interview tool that helps you practice interview at the comfort of your home.
Yes, you got it right! Mock AI is a smart tool that uses Artificial Intelligence and Machine Learning to analyze your body language, facial expression and, voice modulation during mock interview to provide feedback regarding your performance. This feedback report helps you identify your strong and weak areas in order to improve the overall interview performance.
So, if you’re hesitant about the salary negotiation conversation, try MockAI today. Use all the above salary negotiation tips while at it.