“So, what are you searching for in regards to basic pay?” If you get this question from a recruiter you desire to join, what is the way to answer wisely? Most people avoid negotiating higher pay when an opportunity to work at their desired organization arises. According to the Ladders, only 36% of people ask for an increase in compensation when offered a post.
However, various experiences have shown that if you employ clever strategies to push for a better wage, you can get an increase from your prospective or present boss. So, how do you embark on salary negotiations like a pro? Here are the things you should know!
How to Negotiate a Higher Salary
Most job remuneration offers can be increased if you ask, even if you are a fresh graduate. However, before you begin negotiating an increase, you must first know the average wage and perks for the post that you’ve been offered or are holding currently. Here is a guide to coordinate you during the salary negotiation process:
Go Through Job Databases and Online Sources
Most employers won’t tell the exact amount they are offering early on. However, you can get accurate estimations for just about any job on popular tools and sites such as PayScale, Indeed, and Glassdoor. In some of these sites, you may apply filters to get results by location or other specifications.
Consider Extra Benefits That Have Monetary Value
There are other valuable things you can work out with a prospective employer apart from the pay. Examples include insurance policies, health cover, bonuses, etc.
Find Out Income Ranges from Recruiters
You can find valuable info from past recruiters who had reached out to you, though you did not like their offers. Ask them about the pay for similar positions.
Talk to Your Workmates, Ex-Boss, or Friends
Getting insight from people around you – ex-boss, colleagues, buddies – can help you come up with a scale. Use this information to discuss your compensation at the time of the interview or even in your current job.
Request for an Increment Before Resigning from a Job
Before you resign from your current post because of low pay, try renegotiating your income. You might get a rise in your wages and decide not to quit after all.
Know Your Remuneration Range to Sell Yourself Better
When you negotiate salary, highlight the value you bring to the workplace. If there are specific examples in your work history that can demonstrate your value, detail them.
While an employer will disclose a pay range, you should also have the expected range figured out. You can come up with this range by:
- Decide on the lowest you are willing to accept to meet your needs;
- Check how much similar employees earn;
- Determine your dream income;
- Use the middle and high points as your income range and use that to discuss with recruiters.
How to Negotiate Salary During a Job Interview
When a recruiter advertises a job opening, they already know the range they are willing to pay. Therefore, when the interviewer asks you what your income requirement is, they are hoping that you will mention a figure on the lower side of the scale. Here’re some salary negotiation tips on how to go about this question and get good pay:
- Try not to put forth a specific figure in the initial stages of screening;
- Convince the person assessing you to provide you with an estimation;
- Show your strong qualities to justify your pay demand;
- Take time to ponder on a salary counter offer;
- Inquire if there’s room to discuss earnings;
- If what you have in mind and the amount being offered is near similar, work with it;
- Ask what you are required to do to get an increment.
A great reply to “what are your salary expectations?” inquisition is: “I’m open to discussions about what you feel is a fair wage for the post. However, based on my experience in the industry and research, I understand that 85K to 95K a year is the average pay for the position and responsibilities.”
Answering Questions about What Income You Are Being Paid?
In some cases, the employer may show interest in what you are being paid currently. And while this question is illegal in some states, it’s not banned everywhere. Here’s a way to answer:
“I am sure you will understand that my current firm considers employees’ salaries as confidential, and such particulars are limited to internal management. For this reason, I’m not able to share it with you. You can, however, share your remuneration range for the opening, and I will confirm whether my pay is within the range or not.”
How to Negotiate Starting Salary
Use the range you determined, based on your in-depth digging, to push for the best base income in a new opportunity. You can give this range during the interview and say something like:
“I have provided a range because the job’s specifications and responsibilities will tell where the position fits in the spectrum. Therefore, the income is not my only motivator. I’m flexible and ready to grow my earnings based on whether my application goes through.”
How to Negotiate Salary After Job Offer Is on the Table
If you’ve been given a job offer, it means you passed the interview phase. Now, how can you make a counteroffer? Salary negotiations are best conducted in dialogue. However, email can also be helpful in the pay discussion process.
How to Negotiate Salary Over Email Professionally
If you’re informed about being shortlisted for a post via email, it will probably schedule a follow-up phone call. In this case, you can reply with a concise email showing your eagerness and plan to deliberate on other things. For instance:
I’m thankful for the chance and eager for the coming steps. I hope this will be an appropriate time for us to talk over a couple of things.
I will be waiting for your call.
How to Negotiate Salary Over the Phone and Make It Work
Before you begin salary negotiations on the phone, identify a quiet, private, and comfortable place to hold the call. Create short notes to assist you in remembering what you want to ask. Lastly, be confident when negotiating salary. Be careful, however, not to over-demand.
How to Negotiate Benefits Package for the Position
Apart from the base wage, you can also work out other benefits – vacation time, flexible days, student loan repayment, etc. For instance:
“Though I’m pleased with the basic wage, I’m concerned with the daily commuting to X (name of the town or city). Therefore, I’d be much grateful if I could do my duties from home a day or two in the week. This agreement will not affect the business, and I will perform as good as working within the work premises. Is it alright with you?”
How to Negotiate a Pay Raise in the Current Post
If you are a performing employee who’s always delivering on targets, it might be time to ask for a pay increment or better benefits. How then can you go about it?
How to Negotiate Promotion Salary to Match Your Title
A higher title comes with a window of opportunity to talk about a pay hike with your boss. Even if your request is not accepted, it’s still a great idea to bring up the topic. So, identify your valuable skills and accomplishment so far and go for it.
How to Negotiate Benefits Package / Wage for Women
Women, across various careers and levels, often highlight unequal pay issues. To take home as much pay as your male colleagues, conduct a salary negotiation before accepting a work from a new employer. Income differences between genders would reduce if women were willing to engage in salary negotiations.
Top Salary Negotiation Mistakes to Avoid
Throughout the whole remuneration deliberation process, you should never do the following:
- Commencing the screening by going straight into pay and perks matters.
- Claiming that you’re the most qualified applicant and even going as far as threatening to ignore the offer.
- Offering an apology for bringing up the issue. It might imply that you are open to compromise.
- Using negative language, for example, “No, I cannot accept that.” Instead, you could adopt a positive tone by saying, “I’ll be content with…”
- Getting in a situation that implies “you vs. the organization” opposition. So, instead of saying, “I require more employees under me,” rephrase and start with “the business will benefit immensely with more employees under me.”
Prove You Deserved the Pay Hike After a Salary Negotiation
Many people tend to forget about everything else after successfully negotiating a higher salary. That should not be your case. As an applicant, it is sensible to prove your significance in the workplace, showing your recruiter that you indeed deserved the increase in remuneration.
To conclude, negotiating a salary, when done with the above suggestions in mind, will always be a success. You’ll not only be in excellent standing to earn the amount that you deserve but also get the respect you want from your potential recruiter. And note, if you get that pay increment, be sure to do all that is expected of you. Good luck!