Salary negotiations are usually very sensitive, yet important. The reason most prospective employees lose out on juicy appointments is sometimes due to their ineptitude over the subject. I mean, like they say, “knowledge is power.”
Before you go for a job interview, you need to prepare your mind for salary negotiation. It is a part of the process, and unless you get it right, you may end up undoing yourself.
We’ve put together a few tips that are very important in salary negotiation, so you don’t end up making a mistake you could avoid the next time you have a job interview.
NOT NEGOTIATING AT ALL
Typically, in most parts of the world, when people go for interviews, and they are offered a salary, they end up immediately accepting it without trying to negotiate, and present their own demand to the recruiter. And the reason is not far from the fact that they’re simply afraid of losing out on the chance entirely in the face of increasing joblessness globally. But it is very wrong to do so. When a potential employer makes you an offer during an interview, you are expected to negotiate it, and try to get him to give you something higher. Settling could sometimes mean you’re cheap or you don’t know your worth.
PLACING A FIXED PRICE ON YOURSELF
I have heard people say things like “I can never do a job that pays me less than…” Well, there’s nothing wrong with having expectations, but just make sure they’re realistic.
Putting a firm price on yourself makes it impossible for negotiations to take place, and that means you’ll probably end up getting underpaid or losing the job entirely.
The best thing to do is always to have a range, and let your potential employer negotiate within it.
NEGOTIATING BASED ON YOUR NEEDS, AND NOT WORTH
No one is going to pay you a salary because you have all the bills in the world to pay, the company pays you what they want to based on their valuation of you. So when you go for an interview, during negotiations, if their offer is below expectations, just ask for something you think you’re worth, taking your qualifications and experience into account. Try not to bring up your bills or family size as a basis for asking for more.
IGNORANCE OF WHAT YOU’RE ACTUALLY WORTH
Everyone has a value. And it oftentimes depends on your experience level and your qualifications. Before you go for an interview, there’s nothing wrong with asking a few questions to people in your industry who might have an idea of what the salary range for someone like you could be. And if you do get an offer, take your time to think about it, and consider it. Do not just go in blindly, because that could have a lot of implications.
NEGOTIATING EVERY ASPECT OF THE OFFER
When employers make an offer, it sometimes could come in different ways. They could offer you a small salary with add-ons, or a big one without add-ons. Whichever one you get, it’s important to focus only on one when making negotiations. Do not try to negotiate everything (both the salary and allowance) at once so you don’t come off as desperate and difficult to please.
DECLINING AN OFFER IMMEDIATELY
Sometimes, you get an offer, and it seems big at that point, and after a while, that changes, and other times, a seemingly small pay can make sense after much consideration. So it’s not a good thing to immediately decline an offer you’ve been made, instead, take your time to think about it first before you make a final decision.
NOT ASKING FOR A FINAL OFFER IN WRITING
You need to understand that a job is a contract, with terms and conditions, so it’s very important to know what you’re doing when you go for one. Do not just accept an employment without asking for it to be written down in paper with signatures appended to it because things can change at any point. You don’t want to take up a job with a verbal agreement today, only for your salary or allowance to reduce the next.