Negotiating a salary is the part of a job interview most people are interested in. Well, except that we also get worried that we might not know how best to do it. You know, we don’t want to shoot ourselves in the leg by mentioning a figure that’s too small, neither do we want to scare the recruiter by going for something way above their budget. So, we get stuck in the middle.
In my first job interview, I thought I had everything figured out until we got to the point of negotiating a salary. Long story short, I shot myself in the leg. I think the hiring manager was pretty shocked when she heard the amount I had mention. I can tell you it wasn’t such a tough decision for them to make. I was hired immediately. I mean, not just because I had value to offer to the company, but I’d also be reducing their expenses. Who wouldn’t like that?
So, you see, when it comes to negotiating a salary, everyone wants to make sure they get what’s best for them. However, you should also know that the recruiter or employer-to-be also wants what’s best for the company; in terms of getting valuable skills and cutting expenses as much as they can. So, finding the balance between these will help you when negotiating a salary.
Below are 4 tips that can help you negotiate better for your next job offer.
1. Find out your industry average
The first thing you should do to help you do a good job when negotiating a salary is to find out what the industry average is. That way, you would be in a better position to negotiate an amount that will both favour you and your employer to be.
So, do your research. Find out the national average salary for the position. Also, find out how much similar companies in the area pay employees in that position. With this information, you’d be in a better place to negotiate a salary.
2. Help your recruiters understand what you have to offer
Okay, now you’re done with the research and you know how much money you’d like your employer-to-be to offer. The question is, why should they pay you that amount? Even if you think oh! It’s not a big deal. They can afford to pay you the amount of money as your monthly salary. Again, why?
You have to convince your recruiter that you have so much to bring to the table
Start by presenting your industry experience (if you aren’t an entry-level job seeker). Share your leadership skills and experiences. If you have other skills that might be relevant to the position, then feel free to also share. Share relevant certifications, licenses and degrees that might give you an advantage over others, and also suggest to your employer that you can offer a lot to the company.
When you present adequate information about the value you have to offer based on your experiences, achievements and knowledge, it becomes easy to convince the recruiter that you deserve the salary that you are negotiating.
Also, one reason why you need to know and evaluate the value that you are bringing to the table is that it helps improve your confidence (we will talk more about this later on in this post). When you are confident, you can easily present a counteroffer.
3. Have a salary range instead of a specific amount when negotiating a salary
Another important tip for negotiating a salary is to have a range in place of a specific figure.
Once you’ve done your research and you know the industry average, you can easily come up with a range around that figure. That way you’ll do a good job negotiating a salary. Here’s the thing; having an acceptable salary range helps you negotiate and come to a compromise easily, for both you and the recruiter.
4. Practise your pitch
I know you think that knowing the value that you have to offer is all you need to be confident, but it isn’t. For you to be completely confident in your delivery, you need to practise your pitch at least once or twice before the actual negotiation.
For instance, you need to know the order in which you want to present your pitch. Be organized. It’d boost your confidence.
Also, if you have to present a counteroffer, you need to be confident to do so. Hence, the need to be prepared.