Minggu, 21 April 2013

How to Negotiate Salary?

Salary is the important part of a job and the most valuable target in an interview. Companies negotiate salaries only with candidates who have cleared the technical rounds. The foremost point in salary negotiations is that the company is willing to include the candidate in their team and it will be based on the pay. Salary negotiation is similar to a straight line and its two endpoints.

Salary arrived at, should not dip below the candidate's actual worth
Salary asked for, should not rise above what the company can afford

First point implies company's gain and candidate's loss in terms of salary. The second point implies loss for both company and candidate in terms of a worthy employee and an opportunity respectively.


There are three stages in a salary negotiation, preparing for a negotiation, the actual negotiation talk and after the negotiation.

Preparing for a salary negotiation
The candidate has to have in mind that the company's representative is much more experienced in terms of salary negotiation. Therefore, ample preparation is necessary to reach a desirable conclusion. Preparations include the following aspects.

Salary range:
It is necessary to understand about the salary ranges for the job applied. This is very important for a first-ever salary negotiation. Salary ranges can be found from websites. For example, average accountant salaries in different states

Worth:
The candidate should know his/her worth before entering a salary negotiation. Ending up with a lesser-then-worth salary or losing the opportunity by negotiating for a skyrocketing one will not serve the purpose.

Experience, Performance:
The salary in mind should be proportional to the candidate's experience, achievements and mainly on performance in the interview.

Equated:
Salaries are not amounts of money. They also include benefits. A salary asked for should be a healthy equation comprising of monetary, perks and other benefits. Extra paid time off is also a benefit.

Company research:
Research about the company is a crucial factor in salary negotiations. Knowing the average salaries in the company will help.

Reason:
If the target company is reported to have a good growth or if a change in job is needed immediately, salary should not be a big concern. Switching to a job with better working conditions and less pressure is also an advantageous situation.

Actual negotiation talk
On the day of the negotiation, arriving on time is important. A professional attire identical to the one worn for the interview is necessary. While negotiating salary, few points have to be remembered.

Politeness in talk with literally no arrogance
Clear detailing of strengths, achievements and advantages
Asking, not demanding, for an appropriate salary, nominal increase from current job, with proper splits
Salary is not just money, added perks and benefits are a plus
Understanding the company's worth and future in the company
Understanding the negotiation time limit

After the negotiation
If the negotiation is successful, it is mandatory to obtain the salary terms discussed in a written format. In case of an unsuccessful negotiation, the candidate should leave with a handshake on a positive note.