You are about to start your first job search and wondering what salary should I ask for during your interview with HR, then this discussion is for you..
Salary is one of the main aspects of an interview apart from gaining an important and meaningful job role.
Negotiation is an art in itself. When the candidate clears the initial rounds of interview and heads towards the final task of HR round it is very evident that the discussion would be focused on salary negotiation.
Hence, as per me one should understand the situation in hand and prepare well to attend this round of interview with an HR.
It is the art of a negotiator to fix the salary within the said limits. But from the candidate’s point of view the salary package matters, as it talks the worth of the experience held in hand and also the talent that comes from the individual.
Whilst talking so, it is very important to hold on to certain facts and figures of the market structure and know the demand in place for that job role.
It is interesting to know how many companies would claim to have no constraints in paying a good package.
However these are discussed in depth in the final round of interview just to fit the package into the budget.
For many beginners, it is inevitable but to accept the initial company’s salary offering. But for an experienced job seeker, it is very important to keep the facts in place and make the best deal.
Through internet you can find out the current salary offered to a person similar to your experience and job profile in the job market.
A thorough research of the company is required to understand where you stand in the company if placed and how much you should draw from the selected position.
Once you have the data, you can easily analyze the fair-market value with respect to the job title received and experience in hand.
To claim what you are worth at, it needs a certain amount of homework as one must not regret the decision taken upon the salary agreed.
Coming to know what and how one must prepare to claim the right salary; we give you certain tips on this topic:
How Much Should I Ask For Salary?
1. Don’t mention your salary before you get finalized:
Do not disclose the expectations you have in terms of money. It is important to understand the job role and the company before talking about the salary.
If the recruiter asks you to reveal your expectations before confirming your job in the company, do not reply it blindly.
Holding your confidence and attitude of an experienced job seeker, tackle this situation to let know the recruiter that you may want to discuss this only when you are been selected.
Meanwhile you need to get a clarity on the job role you would get assigned and the demand for the same in the market. It is then important to know the market value of this kind of job position.
After this, when the company selects you for the role and wants to discuss the remuneration package, you can now claim it in the most positive way to make them realize you know where you stand.
2. Know yourself:
Do a research through online, offline and other resources to analyze the face-value of the job role and title that you have been offered in the current market. This helps you seek information from various angles.
However, not all the sites or information received may match the expectation you are looking at. But the fact is; for any given role there is a said minimum and maximum limit of package assigned.
You may tend to fall anywhere in this bracket if not for an exact amount. Hence this will help you understand the position you stand for that job role and company.
3. Make the recruiter speak:
It is human tendency to accept a question from a recruiter and answer. Well, why not reverse this by making them speak what they have in store for a candidate.
When a question is posed to reveal your current salary or last drawn, find out what they want to offer for that particular role.
However, it is not always easy to do so, agreed. There are two things to this; one where in certain cases it becomes necessary to reveal the true package drawn before the recruiter offers and second where it is important to know what the company wants to offer.
In the first instance, only in certain situations it may help in getting you the desired package. But in the second instance where most of us fall prey to, it is important to know their view first.
As revealing your salary in the first place may change their view of offering, which results in much less than desired package.
Hence it is vital to know if you have been selected for the interviewed role or not The goal ultimately remains to win the job without hampering the required salary.
4. Do not agree to the initial package offered:
Well most of us agree to the initial package offered by the client. This may happen due to anxiety, pressure; panic; etc.
Not all could have a hand in dealing salary negotiation. By saying ‘OK’ or accepting the package without giving yourself a second chance may leave you disappointed from letting go off a handsome package.
There is a technique which many researchers have found. This could help your chances of gaining a better package.
Instead of agreeing to what has been offered, pretend or sound like not completely ‘OK’ with the offer mentioned. This can be done by extending a lengthy pause or by just saying ‘hmmm’. This technique may build pressure on the employers and may open chances making them increase the package.
5. Take support of incentives and compensations:
You need to benefit from the company’s compensations, bonus, allowances, etc. Hence taking decisions over money matter is advised only when the environment is comfortable and easy to handle.
Work around the benefits the company is ready to offer. Remember not to suppress your own benefits and perks.
6. Have the craving of wanting the job:
Candidates should be enthusiastic for a job offer. Well, this applies even while negotiating the salary. There is a wrong conception that many of us have.
Assuming that being “not so eager or desperate” might fetch a good package is a wrong understanding amongst job seekers.
Companies admire candidates who are enthusiastic about joining the company and not otherwise think that they can reduce the package since they behave neutral or not desperate.
For instance it may even encourage the employer to increase the pack for the right kind of candidate with good energy and interest to join the company.
7. Don’t get driven by the economic conditions:
Experts in the market have analyzed, many job seekers who have had a break and want to continue their career think they should not negotiate the salary terms.
This is because they think the terms and conditions of economic demand in the markets have changed and that they cannot be matched to the existing criteria.
This is not the case in real. One must negotiate regardless to the work break that has been passed by.
A person not negotiating the salary but accepting the terms put forth by the company may be less valued in the company showing that he or she is not up-to the mark (even if they are) or giving way for the company to hire the person for a less package than actually compared to.
Hence without giving any space for such speculations candidates must ensure to negotiate keeping in mind the demand, work profile, experience and confidence.
During this course even if one or two companies do not want to pay your worth, you should not get de-motivated.
Stick by your confidence and quote the rightful salary for the right role at the right time and things should be in place although it gets delayed.
Remember you are not negotiating with the economy, but with a person who wants to make a good deal from the company’s perspective.
8. Keep your ideologies in place:
According to me, being stern, confident, smart, impressive and logical are some of the components one must have, to attend the last round of interview where the main ingredient is ‘salary’. And make some rules so that you stay sturdy on your best decision before you enter the room to discuss.
While negotiating neither you nor the recruiter knows the actual amount to be considered. Hence, you need to work around to make a slab which makes things easier for you to put across to the employer and also to them to conclude on a final note.
Setting a range while deciding a salary is the best thing to arrive at a final rate. Besides these, also show your concern towards the work environment and the company so that it may have an effect on giving you the best package.
9. Make sure to utter those ideal digits:
It is good to announce your ideal number (salary) in the first instance rather than climbing the ladder in an ascending order.
Meaning, do not mention a price that the employer laughs off saying “such low package” and later exercise to make it bigger. Instead ensure you laugh off at a package offered by the employer saying “wow, such low offer”.
Always remember to apply the first tip” Mention not your salary before you get finalized” and also put forth you intentions in the right manner to showcase your worth.
10. Give time to think:
When an offer is being made and you feel you need space to think about it without letting go of the desired job than ensure to skillfully manage your employer and let them know you will respond to their offer as quickly as possible.
Take reasonable time to think and build your words carefully to put across your expectations. This game of negotiations has only one mantra: “Do get what you are worth for, yet not losing the opportunity”.
Finally, do not panic or feel pressured to handle or deal the salary quotient of a job opportunity. Do enough market research to find out your salary slab. Besides this, you also need to thoroughly research the company details.
Prepare yourself to negotiate better before attending that last round which ultimately decides your income per annum.
After having worked on re-framing your resume, applying online, contacting personally, clearing technical and profile related interviews and reaching this state no one wants to lose the opportunity or let go off a job.