Tips Can Help You Prepare For The Salary Negotiation

 

Whether you are requesting a new job or a salary increment in your current position, salary negotiation is playing an important role. Being an employee showcase your talent to a current or future employer that what values you brings to the company. These will be deciding factors the company use during your salary negotiations.

 

The following tips can help you prepare for the salary negotiation to come:

•         Know your value
•          Consider other negotiable benefits
•          Right Time for Right Things
•          Prepare & Practice negotiation skills

 

1.       Know your value and limitation

You should always be ready with your minimum and desired expectation for salary negotiation so do some research about your industry and your job specification, you’ll likely come up with a range that represents your market value. That will help you to negotiate for a competitive salary

 

2. Consider other negotiable benefits

When negotiating salary for a new opportunity, consider the other benefits, including work-life balance, learning and advanced training opportunities, career growth, work flexibilities, reimbursement policy etc… Introducing a few of these benefits may be a useful tactic to further demonstrate your desire to increase your value to your employer.

 

3. Right Time for Right Things.

Studies show that you are more likely to get a raise if you ask in mid-week. There are times when salary negotiations are more successful, steps in your career, and stage of the hiring process. If possible, try to schedule your salary negotiation during one of these optimal times so you and your employer are best prepared.

When it comes to moments in your career, you can ask for a higher salary at certain stages, such as after advanced education or training, professional certifications, or added leadership responsibilities. If you are currently employed, you can ask your employer for a raise if you reach a company anniversary, earn workplace achievements and recognition or have proof that you helped the company achieve a goal. If you’re a new hire, you can discuss the previous experiences and accomplishments you mentioned during the interview process in terms of salary value at their company.

 

As a new employee, a salary negotiation typically occurs after your employer has made an offer. Employers often provide a timeframe in which candidates can think about the offer and possibly provide a counteroffer, beginning the negotiation process. You can take this time to evaluate the salary and benefits package and determine whether your qualifications are equal to the amount offered. If you want to begin the negotiation process, consider scheduling a meeting during optimal times of the day and week, if possible.

 

4. Prepare and Practice negotiation skills

Effective negotiation is learned, and your ability to present the value of your qualifications can improve with practice. Before a negotiation, use planning skills to outline each point of your argument. Use persuasion to highlight your most valuable qualities and the benefits each provides to your employer. If you are employed and your negotiation does not result in a raise, ask to meet with your boss to discuss why the increase was denied and what you can do to earn an increase in the future. This communication method can show your employer that you are committed to improving your skills and unlocking your potential.