A common problem most job seekers struggle with is salary negotiation. In the interview room, staring face-to-face with their potential employers, a tiny voice echoes to them to not lose their one shot at the job by aiming too high, and they listen to this voice. This is why most people shoot themselves in the foot during their salary negotiations. They just aren’t so comfortable asking for what they are worth. They would rather aim lower.
If this is you, then you’re in the right place. In this article, we will be outlining everything you need to know about salary negotiations so you can finally stop underselling yourself and tap into your inner confidence to ask for what you’re worth.
Here are 5 Things to know about Salary Negotiation:
1. Research is Important
The first thing you want to know during salary negotiations is your industry’s salary trends. In the engineering field, for instance, you want to know the salary range for the role you’re applying for. This gives you a realistic idea of what to expect and what not to settle for. Doing this research might be all you need to get the best offer, as knowing what the expected range is, you will know for a fact, that you won’t be going for less.
2. Your Confidence in Your Skills Determine How Much You’ll Get Paid
If you receive an unpleasant offer, the first thing to do is explain to your potential employer why you believe that you’re worth more, the value you will be bringing to the organization, your strengths, and how the firm can greatly benefit from your skills. Before you counter their offer with higher pay, make sure that they hear you speak. Be clear with your words and prove how worthy and valuable you are of the higher pay. This confidence gives them a newer perspective and makes them consider your offer.
3. Be Honest
In the process of salary negotiation, some employers might request to see what you’ve earned in past jobs. You might be tempted to inflate your former salaries, but resisting this temptation positions you as honest and as a person with integrity.
4. Negotiate other Perks and Benefits
Sometimes, job-seekers forget to factor in other perks such as bonuses, flexible hours, a work-from-home schedule, and paid vacation days. These are real benefits that organizations give to their employees. It’s always best to know what the perks are, outside of the financial compensation.
5. Get it in Writing
You want to ensure that you have the agreed compensation in writing with your signature and the employer’s signature. Read through the terms of the agreement properly or get a lawyer to assist if there are confusing clauses. This ensures that you’re completely on the same page with your potential employer.
In all, negotiating your salary might seem daunting, but the truth is it’s not so difficult. As demonstrated, thorough research and a confident attitude is all you need to succeed.