Most Excellent 6 tips For Employees on Salary Negotiation

Examine the Market Value

While you are coming up with your value, you also need to know what the market is paying for someone with your credentials and your level of experience. It means going out and talking to headhunters, talking to a manpower recruitment agency, career consultant, placement consultancy, etc.

They have the most abreast market knowledge. You should also talk to the people known to you who have similar job titles and the level of expertise. You can also rely on google to get the range. But the salaries may differ depending on the region and area that you are looking at. So, make sure that whatever data you find through the internet is accurate and valid to your specific region and your specific local area.

Other than that, the most important thing to keep in mind about doing market research is to use more than one resource to determine your expected salary. If you only rely on one person’s information and say that that’s the number that you want, it may turn around and hurt you, because it may not be in line with what the market is paying. So, you just need to essentially look at the multiple sources and determine an average number for yourself that you can reasonably expect.

Make It a Fix Number While Salary Negotiation

When an organization asks, “what are your salary desire?” most of the candidates conduce to strained up and are afraid of annoying the employer by providing just one specific number. So instead of doing this, they give a range. It’s the biggest mistake made by most employees at the time of salary negotiation. All this can lead you to grief by allowing the employer to give you lower than what you really wanted to.

They’re probably going to go for the lower number as you said that you are open to that despite what you really wanted. And from the hiring manager’s perspective, it also makes you look a bit wishy washy by sending them the idea that you don’t really know what it is in terms of salary. So, you want them to make the decision for you. This is not the way to do a salary negotiation. You have to provide them with one number and also to make sure that this number is fair, deserving, and at the same time, it lines up with what the market is paying.

So, there are two numbers that you actually want to keep in mind when it comes to salary negotiation:

1. Ideal number
2. Willing to settle a number

So the ideal number is the number that, if you got this salary, you would be ecstatic and happy because deep down you know that, it’s literally more than what you think, based on someone with your knowledge and value. Other than this, the willing to settle number that you know is truly justified, what you’re truly worth and what you deserve that you shouldn’t be getting any less than that. That’s the number that you’re worth.

Go in with weight and clout

Whenever you’re trying to justify a higher salary for yourself, you want to make sure that you can leverage everything and anything in your favor. It means when you are in a new job offer situation, and a company has just handed you a job offer but simultaneously you also know that there may be different proposals that may conceivably be coming in, so you should let the higher manager, headhunters, employment agencies or recruiters, know that. It enhances the scarcity mentality for the hiring managers. If they really want you, they will be ready to pay higher if they know that you’ll be easily snatched up by someone else.

Now, in terms of a situation where you may be supplicating for an increment, and you want to continue at your current company, then you don’t really want to bring up the fact that you’ve received multiple job offers or anything related to that even if you have the one.  All you can really say that this is what the market is offering, and you’re reasonably confident about it. It can help you to give them a hint about “what you actually want, without necessarily outright say it.

Saying it straight away can lead to a mess up in a relationship between you and your employers. Instead of doing this, you should leverage what is mentioned before, i.e., explain your values, talk about your achievements, accomplishments, highlight them clearly and concisely. You also need to prove to them that “why you are a top performer, why you stand out from everyone else. You really want to let them know that you are different from the rest of your team or the other people in your department, that you really do deserve more.

Snatch your time

If you are hiring for a new job, the only time you should discuss your salary expectations is when the recruiters ask you for it. Hence, it could be at the outset of the interview, or it could be at the very end when you’ve actually been hired by the employers. Employees should only make up their salary expectations when mentioned by the company’s manager or HRs’. Never make it up on your own because it makes you look avaricious, and this is not the hunch you want to be producing.

But, if you’re in a position where you want to do a salary negotiation from your current company, then you should schedule it during the performance review time, which is most likely towards the end of the year cause this is the time when most managers expect for these discussions to happen.

So it won’t be a surprise coming out for your managers. And on top of that, it’ll be a good opportunity for you to leverage your performance review result as well as the value conversation that you’ve made before and your market analysis results as well. So you can use all of those force and explain why you earn a higher salary

Humanity is the surest sign of strength

The whole salary negotiation process is just one where employees communicate their value and worth to an employer. It’s not about being aggressive and way too gullible. It’s just simply about explaining why they are worth for what they deserve. And when you can go in with a calm frame of mind and positive purpose, it will help to grow their possibilities of getting a positive outcome from the employer.