Prior to indulging in any salary negotiations with a potential employer it is important that you conduct your research thoroughly and know the standard salaries for that particular job. It is also important to also assess the worth of your experience as well as skills to the organization. Conducting a thorough research prior to engaging in any salary negotiations will ascertain that the offer you get on a job will be reasonable and realistic.
What Are Salary Negotiations?
A potential employer discussing an employment opportunity with a potential candidate to determine if the salary and benefits are suitable is what is referred to as a salary negotiation. If the terms do not meet the expectations of the candidate they can request for changes or considerations from the potential employer till both of them come to an agreement. At times the conditions provided in the employment opportunity can exceed the expectations of the potential employee.
Salary negotiations are most beneficial when it involves two individuals who share a common objective. This only happens when both parties want the employee at the end of the day to be adequately compensated for their input to the organization through the utilization of their experience and skills. Aggression and antagonism are not necessary ingredients present in a salary negotiation. It is important even for those individuals who are not willing to negotiate to realize that they are all members of the same organization. The salary negotiations comprise of allowances, vacations, bonuses, salaries, compensation and stock options.
Tips when negotiating salaries
Patience is a virtue that needs to be exercise when dealing with money. It is essential that a candidate waits for the most opportune moment to bring up the issue about salaries. It is advisable to wait till the potential employer brings up the issue about payments. The timing is everything.
When an offer is offered to you try as much as possible not to decline it. When asked about the salary you’d want keep an open mind and tell them you are open to any offer depending on the total compensation received for the position. You can inquire more about the roles and hardships that come hand in hand with the position before negotiating for a salary.
If the potential employer asks you to give them a figure of the expected salary you can give a standard figure derived from your comprehensive research. Justify why the amount is appropriate in regard to the work experience you have, your skill set and the roles you will charged with. Do not talk about your financial requirements at all costs.
When the employment offer is given to you take time before accepting it. Tell the potential employer you will require a short period of time to think about it. This simple statement can result to you getting an increase on the initial offer.
If you are not certain that the position is ideal for you can politely decline with a “No”. Saying no to offer can result to you even getting a much better offer than the initial one. However, if you seriously need the job do not take the risk of declining. The potential employer might decide to move along to the next potential candidate.
Don’t just settle for a good salary negotiate for employee benefits and allowances. In most cases when the salary is not negotiable the allowances and benefits might be.
Calculators for paychecks and salaries
When you receive any employment offer it is essential that you are aware of the net amount that you will be receiving. There are calculators available free of charge that can be used to calculate the amount that you will take home
Preparation for Negotiating a Raise
For individuals who are already employed and are thinking about requesting for a raise the first step is becoming prepared. Arm yourself with all the relevant information about salaries in your given profession from diverse places. The performance appraisals and salary survey data might be the best places to start conducting your research. Make yourself familiar with your organizations compensation policies. There are certain companies that can only offer salary raises at certain periods only. Research on the financial health of the company and the industry as a well.
Know precisely what you want
Calculate the salary you expect and give reasons to validate your request for the raise and compile them to be reviewed by your employer.
Be flexible enough to accommodate other offer provided by the employer rather than a raise such as an added duration of time for your vacation. Be prepared for any outcome, it might be positive or negative.
Organize a meeting
Ask your employer to have a sit down with you and present your case to them without letting your emotions get in the way. After presenting all the data give them time to ponder over it and don’t demand an instant response. Whatever the response is you will have given it a shot.