Irrespective of whether you are a novice or a seasoned pro, whether you love the art of salary negotiation or dread it, the truth is - you need to know salary negotiation tactics and how to avoid disaster to obtain the offer you deserve and that coveted job.
Some of the 'must-know' salary negotiation tactics are:
- Never assume salaries to be predetermined by employers and that qualifications, experience and performance are determining factors.Negotiation is a vital aspect of getting the right salary, but try avoiding premature salary discussion until the employer questions your requirements - otherwise, you can get screened out by talking about money too soon.
- Information is the key to any negotiation and a common mistake is to tell your employer what you would accept. Sometimes, it is hard not to disclose this, especially when asked about your salary history, requirement or expectations. But the earlier you give out the details; there is less room for negotiation when the time comes. Try to be noncommittal when asked about the salary requirements too early in the interview process.
- Do not underestimate your worth and accept what is offered even if it is an urgent requirement. Avoid such desperate acts as even the best offers need review. Most employers give you time to contemplate and consider negotiating for a better offer if you feel it would be better. Remember, the amount of time asked for is the time in which you take your decision.
- Do a thorough research on salary comparables and be aware of your worth. With unlimited online resources, you need to assess your market value and conduct adequate research on the prospective employer, the salary levels, negotiation policies and performance appraisals.
- Avoid declining offers immediately when the salary is much lower than expected. It is best to ask for time before an outright rejection. If the money is below average, you may be left with no choice, however if it is good but not as per your expectation, other benefits should also be taken into account.
- Always try and project an image commensurate with the negotiated salary and do not attach a high price tag without providing support to justify the salary figure, like previous salary history and performance indicators.
- Calculate benefits as part of the entire compensation package, and not just benefits or just salary. Never accept whatever severance the company offers without negotiation and simply play "hard to get" when there is little or nothing to leverage.
- Never negotiate salary over the telephone and use timing as part of establishing your value to the employers. Neither, lying about salary history or alternative salary offers would ever help.
- Everything said and done and with acceptable terms and conditions,always ask for the final offer in writing. No employer will have issues with that.
Finally, the bottom line is that salary negotiations need to be done in a dignified manner and in the right perspective.
