Abasiakan DennySalary negotiation is cruical because it can significantly impact on your career and effficiency. When you get a job offer, the pay package presented to you may not be commensurate with your skills, experiences and contributions. Salary negotiation is beyond asking for more money but about knowing, and understanding your value and communicating the same to your employer so that you will be paid not on your position but according to your value.
Preparing for Salary Negotiation
You need to prepare adequately for the salary negotiation. This decision should not be taken at a whim because it has long-term consequences on your personality and efficiency. There are some essential steps you must take to have a positive outcome:
- Identify the value you bring to your employer. Life pays on value. Identifying and understanding your value will give you great leverage and set you up for a positive and confident salary negotiation. Your geographical location, soft skills, years of experience, educational qualifications, etc are great determinants to ask for a higher salary.
- Research for similar offers and the salary for the role. This will give you grounds to ask for an increase. Maximise platforms like Indeed, to be updated on the current market price for similar roles. The market average for a particular job will give you talking points for effective negotiation.
- Develop talking points from your research. Prepare concise and compelling reasons why you drive a higher salary. Highlight your years of experience, specialised skills, achievements past success records, the demands of your present role and your visions to make an impact.
- Determine a salary range and communicate with your employer. Avoid setting a fixed amount, but give a range of your salary, based on your findings.
Salary Negotiation Strategy
To secure a salary package commensurate with your value, you must understand and master the art and act of negotiation. These strategies include verbal and non-verbal communication skills. Negotiation is a battleground and every weapon must be kept ready for action if the situation demands such. Use the following key strategies for a positive outcome:
- Be confident about your skills, experiences, records and achievements. Communicate clearly what you aim to bring to the company, which requires reciprocal compensation by your employers. Don’t be afraid to communicate your salary range. Reiterate your qualifications and the importance of your contributions to the company.
- Master the art of compromise. Remain firm about your proposition, but be flexible and know when to assume a stance to favour both parties. Don’t be unusually hard and inconsiderate because that may give you a bad reputation before your employers.
- Understand and know when to use the right negotiation strategies. The hard-style negotiation strategy requires you to state clearly the reasons that justify the salary package you are advocating. The soft style is to state what is best for you, even if the relationship will get strained.
- Consider the overall deal. Focus on the responsibilities, opportunities for growth, promotion, and potential benefits. Ask for a breakdown of all the packages e.g. vacation, company car, phone, etc. Be prepared to accept a lower pay if the addons are juicy. Â
- Choose the right time. Schedule the discussion when it’s favourable for the hiring manager. Ask about his availability and decide on the right time. Early afternoon or the second part of the week may be periods you should consider scheduling the meeting.
- If possible, delay the salary negotiation and wait for the company to see your value. Your value may not be seen at first impression that is why it’s important to delay the discussion so that you won’t be rated and compensated before your value is seen. Go ahead and ask about the roles and sidestep the question about the salary.
- Be prepared to walk away if the salary package does not meet your minimum requirements. You can discuss your past role in similar positions or roles. Your worth should sponsor your confidence.
You are not to be paid for a role but for your value in such a role. By understanding your worth, boldly communicating and accurately employing top-notch negotiating strategies, you can get a higher salary and work with the confidence and rewards that compensate you for your skills and experiences.
