Salary Negotiation

Salary Negotiation

It is believed that salary negotiation is an art. A systematized process of salary negotiation actually helps the prospective employers in hiring the best suitable candidates. Salary negotiation, a critical and crucial step in the selection procedures also helps in filling the vacancies more quickly in bigger organizations. But the process of salary negotiation should be handled in a timely and effective manner. At the same time, it is also true that salary negotiation is one of the most under-rated and neglected aspect of the hiring process.

Tips for Salary negotiation: 

Most of the people are not aware of the right salary negotiation process. Salary negotiation needs a good sense of balance. It is quite natural that no company would afford to loose a potentially eligible candidate in today's competitive job market. One must remember that to a great extent, a candidate's present salary also determines the future salary. 

Handling Money Questions

How Much are You Worth?

How to Get the Raise You Deserve?

Pay packages differs depending on the industry standards set for different positions. You should be fully prepared before you start your negotiation process. Here is a list of some salary negotiation tips that will help you in achieving the best deal:

·  Begin the salary negotiation process only after receiving the formal offer from the company.

·  Do some research and properly evaluate the job profile and the offered pay packages in the market before you start your final negotiation process.

·  Don't lie about your previous pay package or salary.

·  When you are negotiating don't forget to negotiate about the entire offer including performance bonus and other benefits and not only the salary part.

·  It will ultimately raise your overall remuneration as expected. 

·  Your appearance and mannerism also influences your salary negotiation success rate.

·  Know your limits and always be aware of the things that are not negotiable and try to avoid those parts that will only lead to friction. Be clear and straight forward.

·  Most importantly, know about your strengths and your worth on the basis of an anecdotal information about how people having similar qualification like you are generally paid in the market. Your extra skills that you feel are important to the position will give you an extra edge.

·  Try to examine your own as well as the needs of the company. It will help you in selecting the right pay package that aptly suits your needs and qualification.

·  Exploring alternatives will help you in creating several options that satisfy everyone's needs and interests. 

·  Last but not the least, focus entirely on your objective criteria and your goal. If you have the winning tendency it will create problems in the salary negotiation process.