Introduction
As we all know, people typically earn a living according to their skills. However, you could always augment your salary by a salary negotiation counter offer. A salary negotiation email, negotiating job offer, or negotiating salary offer could help you in this regard. Negotiating a raise would help you to set an augmented basis for your future job opportunities as well.
Here are various salary negotiation tactics to help you know the best way to negotiate pay range.
Best Salary Negotiation Tips and Strategies
Negotiating a higher pay would proffer you umpteen perks and benefits.
1. Estimate Your Economical Value
You should always know your value in economical terms according to your skill set, education, and talents. If you have cognizance about your economical value, then your hiring manager cannot exploit you in economical terms. You should fetch fruitful result according to your worth.
2. Have a Word With the Recruiter
The recruiter can provide you a better understanding of the environment of the company. He or she acts as a link between the employer and you. He may proffer you an offer regarding your salary from the company’s side. This aids in knowing the minimum base salary which the company is expected to give you. Since he is a link in between, he may even tell you if the company could augment your salary. You can have a salary range discussion and a salary raise negotiation with her or him.
3. Research About the Dynamic Nature of the Market
You should always research the average income of the people working in the same field. This would help you to have cognizance of the average job market salary. Since the nature of the market is dynamic, the amount of salaries may also fluctuate with time.
4. Fabricate Some Notes
After conducting proper research, you should always jot down the important points related to your salary negotiation strategies. This would help you to memorize your speech and avert any rambling.
5. Be Cordial and Enthusiastic to Work in the Company
While negotiating for a salary increase, you should be overly polite with your recruiter and hiring manager. Politeness may work as a catalyst in boosting your negotiation process. Your enthusiasm and dedication to work in the company may help you to amass an augmented salary.
6. Set Up a Heightened Amount
You should always set up an augmented amount for a salary. This would help you to amass the required salary you want. Say, for example, you want Rs30000 as your salary. You could set up the amount as Rs60,000. Seeing your higher salary expectations, the company would furnish you with an amount of less than Rs60,000.
7. Inform the Hiring Manager of Your Aim to Add Value to the Company
You should inform the hiring manager of your sole aim to add value to the company. With an augmented salary, you would add an effectual value to the company. A higher salary would work as an incentive for you to perform better for the company. You would be satisfied and give your best to the company.
8. Rehearse and Practice
You should always practice before negotiating a raise. This would help you to be better and memorize your notes well. You could rehearse your negotiation speech in front of your friends. They could point out your weaknesses so that you can ameliorate yourself. In the case of negative feedback from them, you could modify your speech to make it more polite.
9. Contact Through a Call and Not an Email
Communicating through a call facilitates easy exchange of information. You could put out your points in a lucid way. The hiring manager would also hesitate in denying you a suitable income for your skills.
10. Ensure Confidence while Communicating
Low self-confidence would make the manager doubt your credibility. You would seem doubtful about your own statements. On the other hand, a confident and compelling negotiation would force the hiring manager to augment your salary.
11. Flexibility
While negotiating, you should be flexible enough to hear the points of the hiring manager as well. In the case of variations in opinions, you both should come to a mutual agreement. This would be possible only if you ensure flexibility in your attitude.
12. Reject the Opportunity if Unsatisfied
You should walk away if you are not proffered the required salary. You should not put your efforts into a company that cannot provide you the required income. You should know your worth and if the company doesn’t recognize it, you should leave the company.
13. Inform Your Incurring Expenses to the Company
You should tell your approximate expenses to the company. The company would get an idea about your expenditure and would provide you the income according to it. They can have an idea about your income expectations.
14. Find a Suitable Time for Negotiation
Researches show that you are more likely to have a positive negotiation on a Thursday. Monday is the beginning of the week and hence a busy day. On the other hand, Thursdays initiate the weekend. The hiring manager has less work on this day and hence may listen to your negotiation.
15. Exhibit Gratitude
Exhibiting gratitude at the end of a conversation is a social ethic. You should always be thankful to the recruiter or the hiring manager for sparing his time for you. If the negotiation is successful, then you could thank the manager for agreeing to your proposal. On the other hand, a negative negotiation should also be ended with a note of gratitude. You should thank the hiring manager for listening to your terms and conditions. You can even thank her or him for offering you the job opportunity.
Conclusion
Negotiating a higher salary is the result of your expert negotiation skills, heightened education, and talents. Your hard work should yield fruitful results. According to research, only 37% of the people offer negotiation email. This truncated amount is due to the fear amongst the people. However, effectual bargaining strategies are crucial to help you augment your future income base as well.