While you go to the interview process full prepared to take the personality test, there are few things you need to keep in mind, when negotiating your salary.
Does not matter if it’s your first job or fifth, negotiation is an important part of your recruitment process.
There are a number of things that cross your mind when your prospective recruiter asks about your current salary and how much do you expect from your offered job profile.
If you think about it carefully, negotiation is an art.
Once you receive the offer letter, you can take the opportunity to discuss and improve some elements of your employment package, which would include your basic salary, benefits, work hours, and other perks that the company is offering you.
While you go to the interview process full prepared to take the personality test, there are few things you need to keep in mind, when negotiating your salary.
- Company background
Not all companies are the same, which is why company background matters a lot when it comes to your salary. While well-established companies have no boundaries in offering lump sum pay package to a candidate, an average performing company or a start-up might not have as much revenue generation to offer you. However, if you find the profile of the company attractive and somewhere you’d want to work, try keeping it balanced.
- Market value
If you’re going to get the pay you deserve, it’s important that you know the package a candidate with your qualifications receives in the industry. Connectively, if you walk into a job, without negotiating your salary, you are the mercy of an experienced manager, who would simply make your decisions.
- Job description
Your job description states all the responsibilities you’re expected to carry out for that particular profile. You may have to learn about something new, as that would be an essential part of the job profile. In that case, negotiate for an optimum pay, as the company would put-in their time and effort in training you for that particular profile.
- Current CTC
Your current salary is the base amount that you draw. Unless you have taken a career break for a while, there is no reason to settle for a lower or even the same salary; which is why you should always aim for something that end up giving you a twenty to thirty percent hike from your current salary.
- Negotiate in person
Negotiation can be scary and time taking. You need to ponder over a number of things and then walk in with full confidence. While the task involves convincing the hiring manager to settle for a salary you think is good for the profile, the conversation should not just be made over the phone or by using some other means of technology. The more face-time you give to the hiring manager, more will be the impact of your convincing process.
Negotiation creates more option for you, not just career wise, but also in life. However, you have to make sure that you sound subtle and not somebody who knows it all.
