Bargaining for a better salary once offered a job is a necessary procedure that most candidates avoid for one reason: fear that they’d get the offer withdrawn. People do not know that most companies have Salary and Benefits negotiations open for the candidates to bargain for. In this article, I will show you how you can employ bargaining strategies without losing your job offer.
The reason for salary negotiation
The most unintentional blunder any candidate should ever commit is not negotiating for their worth after being hired. This is quite reasonable to expect for many because, while bargaining, people may fear that asking for more is unpatriotic, improper or rude, which may lead to a loss of employment. However, consider this: An experienced worker who starts their new job only to discover that they could have negotiated for an extra $1000 a month means that they would have earned another $12,000 extra in the first year alone. If we add to this the effect of pay raises, the potential lost revenue would be even higher.
However, according to these statistics, only one out of every three working population will negotiate their salary after getting a job offer. It seems surprising that 42 % of employers are willing to offer entry-level workers a chance to negotiate their wages; 75% are willing to negotiate on other non-salary incentives. Where, when and how to negotiate is important.
When to Negotiate Salary
Not all cases can afford salary negotiations. Here are the best times to consider negotiating your offer:
1. When You Have an Offer Letter
An error in making signals of negotiating before receiving a more apparent employment offer can be observed. Negotiating salary is best done after a candidate has the written offer. Writing the offer also puts the employer on record as having made a sound hiring decision about you, thus giving you more bargaining power.
2. When You Can Quantify Your Contribution
Your employer is concerned about what you can contribute to their organization more than you require to feed or pay your bills. Anytime you explain how you will further the interests of the organization through the use of your skills, then you are at a strong bargaining point. When claiming you will help the company succeed, quantify precisely how you will achieve it or provide examples of how you have done so.
3. When the Job Requires Extra Work or Long Hours
While some jobs require more time and effort than others, it will be reasonable to demand higher pay if you understand that the position requires you to work at night or gives you extra obligations. Think about how good you’ll feel having that salary in six months. If you already think it is low, it is time to negotiate.
When Not to Negotiate
However, there are moments when it is better to avoid bargaining altogether.
1. When You’ve Already Signed the Offer
Once you have agreed to the offer and have been awarded the contract, you cannot possibly negotiate for changes. Returning after signing can spoil your image and prove detrimental to your new employer’s relationship with you.
2. When the Employer Has Given Their Best Offer
A few organizations have a well-defined clampdown on total payroll costs, and therefore, if, by any luck, the employer informs you that their offer equates to their utmost best, you can be unlucky to get a deadlock. During the negotiation process, the company should remember the signals that indicate it has already reached the limit of its powers.
3. When the Offer Matches Industry Standards
Any serious applicant should study the market price for the job they are applying for before attending an interview. There may be no reason to bargain if the offer meets or fits into those clauses. One can appear to haggle merely for the pleasure of it or to garner more esteem than deserved in the eyes of others.
How to Negotiate Salary Effectively
Ladies and gentlemen, exceptional attentiveness should be paid to the conversation if you are ready for negotiations. Here are some critical steps to follow:
1. Be Prepared
Preparation is key. Search online for the average salary for a similar position within your industry and the city where you reside. Some sites like Glassdoor and PayScale can help you get ideas about that. The following information will help you gain a high level of confidence when discussing salary.
2. Do Not Describe Your Expected Salary
Leaving a specific amount out at the start is better regarding the expected salary. However, if the employer is not offering well, a high stake from your side can act as a deterrent. Instead of telling them you’re uncomfortable with the process, you would rather know more about the position before the salary discussions.
3. Don’t Jump at the First Offer
The offer may be open for bargaining on the first attempt. You have to pay your bills, so if the salary level is too low, you should not oppose asking about the possibility of negotiating it. It is unprofessional to ask raw, direct questions about pay scales, but asking about the company’s ceiling for such a position should suffice.
4. Negotiate Non-Salary Benefits
While salary is important, it’s not the only factor to consider. If the company isn’t able to raise the offer, think about negotiating other benefits like flexible working hours, additional vacation days, professional development opportunities, or continuing education sponsorships. These perks can greatly enhance your overall job satisfaction.
Conclusion
There should be no debate as to whether or not one should negotiate their salary because it is not only your right but also a way to get paid what you deserve. The employers expect some degree of bargaining and, if implemented, should satisfy both employers and employees. Suppose you prepare yourself properly and approach the negotiation exercises in the proper state of mind. In that case, you can gain a better severance package and salary increment within one or two negotiation sessions without losing your job offer. Before discussing strategies and approaches, the reader should remember that salary negotiation is not something one should be afraid of—it determines the compensation amount.
