Do you also feel shy or get excited while discussing salary during an Interview?
If you are not a good salary negotiator, you are losing money on the table, and I am sure no one would like to be one.
Fact: Employers prefer Candidates who are confident about their skill set and expertise and are good negotiators.
Here are the quick tips to be more confident during the Salary Negotiation round at the Interview-
- Know Your Market Value: The most critical foundation step to nailing the art of salary negotiation is to know your market value.
It requires intensive research on current industry trends depending on the following factors:
- Industry and Job role
- Geographic location, country and city
- Your skill set, specialisation, expertise level
- Your work experience
- Your current salary structure
- Your USP, what will you bring to the table when joining the team?
- Researching about what the people are getting with similar skillset and experience as you
- Research what the competitor companies are offering for your role.
Also Read: TOP 8 PAIN AREAS OF JOBSEEKERS
2. Don’t forget about other Employee Benefits: While negotiating salary, don’t just focus on monetary benefits. Try to understand complete salary breakup and consider the following factors:
- Health insurance coverage
- Retirement Saving Plans
- Professional Development Plans
- Joining bonus, if applicable
- Leaves and vacation policy
- Mode of operation-Flexible / Hybrid/ WFH
- Reimbursements are provided for travel, transportation, food etc.
Identify your need- It may be a higher paycheck, or it might be about a bonus, benefits, title or scope of the job. Be honest and justifiable about your demand.
3. How to excel Salary Negotiation: Your confidence level for the salary negotiation will be entirely dependent on your Interview Performance.
The Key is to Know yourself completely and be confident about your capabilities and experience to solve the problem of the Employer.
Throughout your Interview, you need to focus on your strength that will be helpful in proving your candidature for the target role.
You may need to provide data with facts from your past work experience and achievements; your certificates and qualification will play a major role.
Explain how you will add value in terms of revenue, how well you will fit in the company, and your persona and energy.
4. Learn when to stop and be ready to walk away: If you and the recruiter both are on the same page that you deserve more, but the company is not ready to offer what you asked for, you need to Walk Away and be confident that you will get what you deserve.
Try not to sound too needy or arrogant to the Interviewer.
It always helps if you negotiate salary with the decision maker of the company.
Last but not least, end the Interview on a positive note and send a thank you email to the Interviewer to build a professional network.
