The process of job hunting is full of not just excitement but also anxiety. Preparing resume, applying for posts, getting ready for interviews, facing the interviewer, waiting for responses and making a decision gets tiring, to say the least. And once you get a job offer, what is most difficult is negotiating the salary part. Salary and compensation is that part of the job negotiation that can effectively make or break a deal. It is a very important aspect of finalizing a job opportunity.
Once a company has selected you, it will contact you for the vacant position. It is generally at this time that the salary is negotiated. Before agreeing to any offered salary, remember that the company requires your skills and finds you competent enough for that job. If you have applied for a new job while already being employed, you would obviously seek higher wages, a better working environment, and an overall upgrade in all aspects of your career.
It is generally a mistake to not ask about your salary up front. It is generally during the interview that the employer will ask you about your salary expectations. Research the market properly and find out what is the standard salary for that kind of profile. Generally, your experience and the standard of the company will also determine the salary offered to you. When asked directly, this can be a difficult question to answer, but remain confident and say what you really expect based on reason and logic. Your negotiation skills will play a good part here.
If you come prepared for such a question, it will be better and you wouldn’t look surprised when the question is popped to you. If your interview has gone well so far, you will be confident enough and upbeat when this question is asked. It is always safe to ask for a base-level salary, and telling the employer that based on your performance you expect a review of your performance in two months or 6 months. This way, the employer will know that you are not unrealistic in your salary demands and also confident of your own potential. Also if you are prepared, it will reflect your confidence in your own abilities.
When talking about your salary, understand things in clarity. What will be the additional benefits, the insurance cover, medical benefits, other bonuses, appraisal system etc. If your salary combines a fixed and a variable pay structure, get a clear brief on the same. These things will leave nothing to uncertainty and at the end of the month, you would not feel that you have been left with much less than what you bargained for. Get to know about the reimbursement policies of the company too. Find out what is the policy of the company about over time, travel compensation and even the severance amount, if need be.
If in case, the wages are not discussed during the interview, make sure you discuss it with the employer before the day of joining. This will ease out any misunderstanding or misconception on either side. While you are negotiating the salary, sound confident and let the employer know that you are aware of what you are worth. Also highlight how the company will benefit by having you on board. If you look the employer in the eye while negotiating your salary, it will give him a clear impression that you are not being afraid and he cannot quote a smaller salary to you. Suppose you are not satisfied with the salary offered but are keen on taking up the job, ask the employer about when the compensation review would be done.
However, if the salary offered is way below your expectations, tell the employer in no unclear terms that you need time to think about it. Ask them for some time and then don’t call up the employer. If they are in dire need, they will call you up themselves and hire you on your terms. If you are appearing for more than one interview at a time, don’t be afraid to let the interviewer know this. Tell them that you have other good offers in hand too and your final decision will only be taken after weighing all the options that you have in hand. Don’t make false claims here, bring it up only if it’s true.
Lastly, remember that if you are out of job then may be it is more important to have a job first so go ahead and accept that offer even if the salary offered is a little lower than what you expected. Once you have some experience added to your profile, you will always be able to negotiate a higher salary in your next job. So, be realistic and be aware of your market value. This is what will get you the salary that you deserve.
Geetika Jain writes on behalf of www.Naukri.com, a leading job portal for jobs in india. www.Naukri.com is a recruitment platform and provides services to the corporate world, placement agencies and job seekers in India and overseas. It offers a bouquet of products like Resume Database Access, and Response Management tools and its services include Job Postings, and branding solutions on the site. With 2, 00,000 jobs live at any point; Naukri.com serviced over 32500 corporate clients in the past year.