How to Negotiate Salary 12 Tips to become a Pro in Next 4 mins

How to Negotiate Salary 12 Tips to become a Pro in Next 4 mins How to Negotiate Salary? Become A Pro In The Next 4 mins5 min read Read ­ing Time: 4 min ­utesVery often we all seem to believe that we deserve a bet ­ter pack ­age or a salary increase. How ­ev ­er, we avoid nego ­ti ­at ­ing a high ­er salary for the same. It has been observed that most of the job can ­di ­dates are not aware of how to nego ­ti ­ate salary with the poten ­tial employ ­er or the hir ­ing man ­ag ­er dur ­ing job inter ­views or pro ­mo ­tions. The psy ­chol ­o ­gy behind the same is that while inter ­nal ­ly we all believe that we deserve more when it comes to con ­fronting the oth ­er per ­son for the same, our con ­fi ­dence wavers and we end up not keep ­ing our salary expec ­ta ­tion to our ­selves. This fear of rejec ­tion based on a high ­er nego ­ti ­a ­tion dri ­ves us to be qui ­et. We, how ­ev ­er, know much scari ­er is the prospect of not nego ­ti ­at ­ing salary. When we go for an inter ­view we wish to give our best and, at the same time, get the best salary and ben ­e ­fits pack ­age. Job Search All Cur ­rent Upcom ­ingOppor ­tu ­ni ­ties. Click here tofind over 4Lakh+Job Post ­ings in India. Here are some tips to guide you on how to negotiate salary: 1. Knowing your value Before you begin to nego ­ti ­ate a job offer, you must be well researched on the val ­ue of your posi ­tion, area, skills, and expe ­ri ­ence, along with oth ­er crit ­i ­cal fac ­tors in a com ­pa ­ny. This can often be done by con ­cen ­trat ­ed Google search ­es and talk ­ing to peo ­ple in the indus ­try and the com ­pa ­ny. This allows you to bet ­ter pitch the salary you want with ­out fir ­ing arrows in the dark. It also shows the com ­pa ­ny that you are seri ­ous about work ­ing with them. 2. Talking to recruiters Those pesky recruit ­ment calls you to get that you dis ­con ­nect, they can be a great source of infor ­ma ­tion about your val ­ue and what to nego ­ti ­ate once on the table. They keep tabs on peo ­ple and posi ­tions along with their mon ­e ­tary val ­ue. Get ­ting a spe ­cif ­ic num ­ber is unlike ­ly unless you vis ­it them or seek their help find ­ing you a job but gen ­er ­al ­ly know ­ing a range is not that dif ­fi ­cult in such con ­ver ­sa ­tions. 3. Start at the top Now that you know the range in which your salary must fall, start the salary nego ­ti ­a ­tion at the top of the base salary range. This serves a dual pur ­pose. One, it shows those on the oth ­er side of the table that you are con ­fi ­dent in your skills and abil ­i ­ties. Sec ­ond ­ly, the employ ­er will cer ­tain ­ly nego ­ti ­ate to go low ­er with the employ ­er offer so start ­ing high allows you to stay in the range you want ­ed. 4. Exact number When nego ­ti ­at ­ing salary, do not round up but rather quote an exact num ­ber. For instance, you can nego ­ti ­ate for 8.4 lakhs rather than 8 lakhs. This allows them to see you have researched more exten ­sive ­ly. This also improves your chances of get ­ting a high ­er pack ­age. Don’t be afraid to walk away â€" The num ­bers you have in mind remem ­ber to have a fixed low ­er lim ­it. If the nego ­ti ­a ­tions reach that point, polite ­ly but sure ­ly be ready to walk away from the offer. 5. Being ready This means that when you won ­der how to nego ­ti ­ate salary, you should also com ­pre ­hend why you have those salary require ­ments. Ques ­tions such as “do you have the right expe ­ri ­ence”, “have you han ­dled the right respon ­si ­bil ­i ­ties before”, “has your per ­for ­mance been above expec ­ta ­tions in the past” need to have a pos ­i ­tive answer for the employ ­er to recon ­sid ­er your com ­pen ­sa ­tion pack ­age. 6. Practice makes perfect As great as an impromp ­tu ora ­tor you may be, prac ­tic ­ing nev ­er hurt any ­one. A few run-through of nego ­ti ­at ­ing salary with friends or in front of the mir ­ror will help you see where you can pitch bet ­ter and will also have you bet ­ter pre ­pare for ques ­tions. You need to prac ­tice more on improv ­ing your com ­mu ­ni ­ca ­tion skills. 7. The walk-in The way you walk into a room sets the tone for every ­thing. This aspect shows your con ­fi ­dence in your ­self as well as the process. This also sets the tone for the nego ­ti ­a ­tion where you are not on the table on the back foot. 8. Focus on the future Often, those on the oth ­er side of the table will ask you your present salary or your salary his ­to ­ry. This becomes a prob ­lem if you’re under ­paid in the present job or look ­ing for a seri ­ous hike. In such cas ­es remem ­ber to focus on the future and what you bring to the table for them. 9. Be the first to ask Find the oppor ­tune time and put your num ­ber on the table first. The first num ­ber on the table is the most impor ­tant one as it sets the num ­bers rolling from there. If the oth ­er par ­ty puts a num ­ber out first then you are always run ­ning behind. You can also take this oppor ­tu ­ni ­ty to dis ­cuss your extra vaca ­tion days, work from home days, etc. 10. Don’t use a range Keep ­ing a range in mind is one thing but do not quote one while nego ­ti ­at ­ing salary as that allows the oth ­er par ­ty to use it to pay you the low ­est in the range. Quote high ­er than you want and quote a sin ­gle num ­ber as dis ­cussed ear ­li ­er. 11. Use email when you can While most nego ­ti ­a ­tions hap ­pen over a call or face to face, if your com ­mu ­ni ­ca ­tion with the recruiter is most ­ly over mail then you need to lay ­out your demands well in the nego ­ti ­a ­tion salary email. Also, click here to read the basic points for ­mat for a pro ­fes ­sion ­al email. 12. Don’t be afraid of the “no” You must remem ­ber that if they say no to your salary request, it is a part of the process of nego ­ti ­a ­tion of salary. Often times they may make a counter offer which might not be exact ­ly what you want. Where ­as some com ­pa ­nies sim ­ply offer a sign ­ing bonus and keep the salary offer as the same. Do not feel dis ­heart ­ened if the nego ­ti ­a ­tion does not go your way. If you keep the above points in mind, your nego ­ti ­a ­tion of the salary should go well. Remem ­ber that this is where you will be work ­ing for the fore ­see ­able future in the job mar ­ket and thus nego ­ti ­at ­ing salary while keep ­ing it all well is cru ­cial here. how to negotiate salarynegotiate salary tipsnegotiating salary