Let’s be honest.
Talking about salary is a dilemma and is awkward for most of us.
It’s about maintaining that thin balance between demanding an apt remuneration while not appearing greedy. This discussion happens usually at the end of your job interview, and your interviewer has already made their judgement on how much salary needs to be agreed upon.
If you think you’ll get time to think about a strategy for your salary negotiation during the interview, then you’re wrong. You must work on your strategy beforehand. Here are ways you can up your negotiation game and get what you deserve.
Do market research
You should know your industry and your job profile like the back of your hand; basically you must know the demand your job has in the market. These insights will help you quote a fair number to the interviewer. This is one of the ways you can learn how much your job profile and designation monetarily commands in the market.
You can also learn about this by searching through different job portals, talking to other professionals in the same field, or discussing with your family and relatives who have years of experience.
Calculate your expectations
The industry standard may quote a certain number, but your expectations need not match it. A few of you may have an educational loan, other financial commitments, family commitments among other things.
You need to map out all your expenses including travel, stay and other commitments. Then you need to arrive at a justifiable number which can then be explained to the interviewer. Remember you need to account for savings as well hence, that also should also be taken into account.
Pitch in towards the end
Many times, the salary discussion always takes place at the end. This is the best time to pitch your salary expectation as you get a chance to justify your quotation by talking about your value addition, skills, and experience you’re bringing to the table. The interviewer needs to believe in your skills and offerings so that it can be easier to convince them about your salary.
Don’t assume that whatever amount you quote will be given to you. You need to be diplomatic about this situation and make the interviewer understand that you’re not expecting something that’s unreasonable.
You will need to be assertive, reiterating your skillset and your expertise, and show enthusiasm about the job you’re being offered. It is possible that you will be questioned about your salary needs and expectations. You need to answer each question diplomatically and firmly. Remember do not lose patience.
Agree to the right number
What the interviewer might say and what actually comes on your offer letter might be different. What you may sign upon, will be the CTC and that will have various components. Check for the useful components like insurance, gratuity etc. Your in-hand salary at least matches to that what you quoted to the interviewer.
Follow these salary negotiation tips and we hope you get yourself the best salary possible!