There is no doubt that, for many, the process of looking for a job and being interviewed is stressful. However, many job seekers consider the next step – wage negotiation – the most complicated part.
But negotiating wages doesn’t have to be that scary. If you prepare well, you can calmly present your arguments to justify your desired salary and succeed in the conversation. Here are our tips for successful salary negotiation.
How to earn a good salary
1) Be prepared before starting the salary conversation
It is part of your preparation for the job interview, the investigation of wages practiced in the market for the desired position. Search for the company for which you are applying and adjust the desired value based on the size of the organization, longevity, and industry. For example, working in a small national startup company may not offer the same base salary for a similar position in a large, well-established company.
2) Understand your value to the company
Before the interview, consider your skills and how you can contribute to the company. Do you bring with you a unique knowledge or differentiated experience? Is the company offering you a new or existing position? Do you have the minimum qualifications required by the vacancy? Are there other candidates being interviewed for the position?
Companies want to know what the return on investment (ROI) will be. If you can prove that you will bring value and raise the bar, you are more likely to negotiate a base salary close to what you want.
3) Wait for the right moment
Avoid taking the initiative to talk about the topic. In general, recruiters prefer to do this after the first contact as a candidate. Control anxiety and get ready for when the moment of conversation comes.
4) Memorize your arguments and stay calm
Base your salary arguments on reasons that make sense for the company and on which it sees added value. Do not use personal reasons (for example, credit card debt, high funding or children’s education) to defend your point of view. In addition, do not overdo the desired increase percentage over the last payment. An adjustment percentage of around 10% and 15% in a scenario of a slow economy is adequate. And stay flexible for possible negotiations.
5) Consider the complete package
Don’t forget to consider the remuneration package broadly and not just the monthly salary. Even if the month-to-month value is not what you expect, there may be other non-financial benefits that are worth it or are more relevant to you. For example, high-end health insurance, study allowance, flexible hours, etc.
6) Ask for the formalization of the proposal in writing
Once you and the recruiter come up with an ideal proposal, ask for formalization in writing, along with a brief job description and a list of responsibilities for your new role. Check that the document is signed by you and the employer to ensure that they are in agreement.
Even in uncertain scenarios, there are sectors that are better than others, which will directly influence the success of your negotiation. We believe that with these guidelines you can get the desired salary or at least get as close to it as possible.
