The most common mistake made by candidates during an interview, with respect to salary negotiation, happens when they shoot out an amount without first judging other factors. Ask for too much and you’ll be out of there before you can pick up your CV. Ask for too little and the employer will think there’s something cooking underneath.
Before discussing the best techniques in salary negotiation, it’s important to know when is the right time to do so. As a general rule “You are not in a position to negotiate until the employer is ready to make an offer or actually makes one.”
What is your market value?
Once you feel that the time is right, don’t take an amount out of thin air. In order to come up with a sensible amount, a salary that you deserve, you need to know your “market value.” That’s right! When you are being employed by a company, that company is hiring your services, and the salary is a payment with respect to your services. You should therefore know what your services are worth. When trying to determine a salary, the first thing to consider is your worth to your future employer – how much you can actually contribute to the organisation.
How do you do this? There are a multitude of surveys and resources on the internet to see what the norm in your profession is. Another way, is to ask people that are in your same line of work. However, make sure you compare like with like. If you are applying for a job in IT, and you are a graduate with no experience, don’t expect to be paid as much as a graduate with about 10 years of experience.
Ask a recruitment agency
When calling up an employment agency, do not ask for the salary of a particular position with a particular company. Agencies are bound by their clients to keep this information confidential until the interview. On the other hand, we will be more than glad to provide people with an approximate range. Just make sure you provide all details, such as experience and relevant qualifications.
Call up other companies, apart from the one you are interviewing for, and ask them their salary ranges. Some will be more than glad to help you, whilst others may not.
Sometimes, during an interview, you might find yourself in the awkward position of being asked by your employer what you expect to get paid early in the interview. Do Not Answer – You still do not have enough information to provide him/her with a sensible figure.
How to deal
Delay the conversation. ”I’d like to tackle salary discussions when we are both sure I’m right for the job.”
Give a nonspecific response. “As long as you pay a fair market value, and the responsibilities fit my skill level, we’ll have no problem.”
Ask your potential employer this question. “What would a person with my background and qualifications typically earn in this position with your company?”
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