An interview is like a trade. You show off your skills, experiences and proficiencies, ‘sell’ it to a company, and they ‘buy’ them. When you are being offered the position, your salary negotiation skill will come into place!
Other than the need to know your worth and the median salary range in the market right now, you need to be equipped with negotiation skills! Using the wrong strategies might just lead you to the path of failure. No one wants to be underpaid and learning some great negotiation skills will do you some good!
Can’t wait to negotiate? Slow down! Be a smart candidate and here are the top 5 mistakes when negotiating a salary that you have to avoid:
Lack of research
Some candidates state their expected salary without much researching. They tend to decide the salary expectation merely based on what they need or by guessing.
Do research the valid market rate for the job position! Considering the working experience, qualifications, responsibilities and the geographic area of the industry are essential, as these points will determine the standard wage you deserve. Online salary reference is a useful resource, but keep in mind that the listed job titles might have a different scope of responsibilities.
It is also advisable to check within your network of people in the same job position. If it’s needed, do cross check with some recruiters from a professional organisation to find out how you should measure your expected salary.
Not asking for more
For some people, it might be awkward to negotiate a sensitive topic like salary. However, not negotiating at all might be worse off. Are you afraid if the employers will pull the offer? As long as you know where your capabilities are and the ability to fulfil well or even more than what the company expected. Do not ‘downgrade’ yourself so that you can get the job! Other than just considering the salary you are asking for, employers are also looking for the right talent fit!
Failing to consider non-salary items
Monetary might not give you the job satisfaction you need. Value your future employers, as they might be giving you a standard base salary but they could be offering other great benefits. A yearly bonus, regular business trips (across the cities or countries!), allowances, rewards to achievements and great retirement plan are some non-salary items worth considering! Thus, look at the overall package they are offering you.
Allow your future employers to know your last drawn salary
Some employers will ask you about the salary you are drawing in your previous job. Let them know and justify why you are currently asking for more.
Don’t take it personally
Salary negotiation is a good idea, but you might feel undervalued should the process goes the opposite direction. Do keep in mind that, business is still a business, and the employers will hire the best talents they can afford. When negotiation goes tough, and you are not able to accept the undervaluing offer, just let it go. Some companies also have their standard rules to the tier of salary package offered.
Salary negotiation is both challenging and tricky. Avoiding these 5 mistakes might help you out in future! Check out www.jobiness.com and find out what are you worth now!