Let us consider a typical situation that most of us encounter in our lives – you’ve sent your application for this supposedly excellent job opening and you’re filled with excitement (and some bit of anxiety of course) when you’re called for the interview. The multiple interview rounds have taken quite a toll on you but you feel a sense of contentment that everything has all gone well.
In fact, you soon find out that you’ve met, or possibly exceeded the company’s expectations. Quite obviously, you’re now eagerly awaiting the most important part of why you’re there – the salary!
If you believe that negotiating for a higher salary in your next job interview is achievable, here are 10 tips that you must keep in mind. These tips will help you make the most of your negotiation and assist you in realising your goal of achieving a higher salary.
1. Know exactly what you want
As the first step to achieving a higher salary and negotiating for that ideal salary hike, you must know exactly how much you want. Do thorough research and find out what the highest salary for your role is. Once you have that number, you will know the bandwidth that you can negotiate in.
2. Know the value of your skillset
Knowing the value of your skill set is another very important aspect to keep in mind, simply because you cannot really achieve a successful salary hike negotiation without actually knowing your own worth. Emphasising on your strong points (substantiated with facts and proof of course) will work well for you, clearly because you’re negotiating from a position of strength.
Related: 8 Mistakes to Avoid in Salary Negotiations
3. Get the timing right
The timing is all too important more often than not. You should know exactly when and how to pull it off. Don’t give your employer any indication before the end of all your interview rounds, as salary negotiations usually happen after you’ve been shortlisted for the job role. Be patient, and get your timing right. You should begin negotiating only after the negotiations actually begin. And when they do begin, make sure you are firm on what you want.
Related: 6 Tips on How to Recover After You’ve Asked for Too Little Money in an Interview
4. Compare the offers
Once you have an offer which seems like it might be a good one, make sure you compare a breakdown of the salary to what you are already getting. Sometimes it can happen that the numbers look great on the gross salary but when you see the net, it’s hardly better than what you are already getting.
5. Don’t be in a hurry to say yes
If you have already spoken to more than one prospective employers, don’t be in a hurry to say yes to the first guy who makes an offer close to what you want. Wait for the other employers to make their offers as well and see which one works best for you.
6. Take the time to consider an offer
You should not feel that the moment an offer is made, you are obligated to reply to it. Ask the company for a day or two to consider the offer and only then make your reply. This will also give you the time you need to compare the current offer with what you are already getting.
Related: 5 Reasons You Shouldn’t Be Afraid to Negotiate Your Salary
7. Be prepared to say no
This may seem counterintuitive but if you really want to get that higher salary than you must be ready to say no to an offer too. Sometimes saying no to an offer could bring the company back to the negotiating table. Just be careful not to get too frivolous with the rejection, only to lose out on a good opportunities.
Related: Should You Ever Take a Pay Cut?
8. Ask questions about the role
Asking questions about your job role is another way to show the employer your interest in the job. This will help you negotiate a decent salary hike as it evidently sends out the impression that you are keen on taking up the position.
Make sure you ask relevant questions pertaining to your job role. Asking questions that are divergent from the topic or particulars of your job role, won’t really benefit you. It only sends out an ambiguous message to your employer and will certainly not help you get that hike you’ve been wanting.
Related: 7 Smart Questions to Ask at the End of an Interview and 4 Not So Smart Ones
9. Think outside the box
If a company is not able to offer you exactly what you are asking for then see if you can negotiate on other things. You can negotiate with the company for more vacation time, opportunities for career growth, future performance incentive, cover for expenses etc.
10. Be prepared for rejections
Just as you could say no to an offer, the company could say no to you as well. it is important not to take such rejections personally. It could be simple matter of not being able to afford your offer. Keep looking and in time you may land the job that offers you what you were looking for.
Related: 5 Upcoming Sectors in Singapore and Colleges Where You Can Get Trained in Them
Keeping these tips in mind will help you be better placed to negotiate a salary hike. But the one thing that you need to keep in mind, above all, is to be confident when you speak. Your show of confidence could swing the whole negotiation in your favour.
Don’t miss out on our other career-related posts:
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- 6 Things You Should Stop Doing Now If You Are Unemployed
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