What is your expected salary?
Negotiating salary during a job interview is usually scary for most job seekers. Infact 57% of people survey in a study said they have never asked for a salary raise. If current employees finds it difficult to ask for a pay raise, how much more job seekers who are currently looking for a new role.
Unfortunately as part of the job interview process, negotiating your salary is one of the hurdles you have to pass before you get the offer.
For the experienced job seekers, it is something they are well prepared for. Life and work experience has taught the veterans a lot and so might be more prepared when it comes to negotiation a better job offer for them.
But for the young graduates especially in an unfriendly economy, the fear of remaining unemployed is enough to make them accept anything talk less of trying to negotiate a good pay offer for themselves.
Often times than not, the prospective job seekers usually see themselves as been and the receiving end. They believe that the recruiter or the company holds all the power and can decide to either employ them or not, so they go in timid and are ready to jump at any offer just to get.
Secondly, the art of negotiating is not something we were taught in the school. Negotiation is a skill that is learned .
Finally, prospective job seekers are not prepared for life outside the four walls of their campus so there is a lot of tendencies to miss it when it comes to getting a job talk less of getting a good offer for themselves.
Either way, every job comes with a salary offer. Without a good negotiation skill, you either get accept a salary offer that is well below what you want and you can start grumbling from day one if you eventually take up the job.
On the other side of the coin , is the fact that you might be asking for just a little more than you are worth for the job role.
Knowing exactly how to navigate the muddy water of bargaining a good offer for yourself is something you must be prepared for. A lot of recruiters will tell you the best way to answer the interview question is not to give a direct answer.
Yes, that can work but either way, when an offer is made you have to decide if you are going to accept the offer or not. This is where this guide comes in. Here we will prepare you for that point when you have to answer and tell the company how much you are willing to access as a salary if you are interested in joining their firm.
5 Tips to Negotiate Your Next Salary
Tip 1: It is a negotiation:
A salary discussion is a negotiation and not a battle. A negotiation is a discussion between two parties with the aim of reaching an agreement, each with its own aims,needs and point of view.
In negotiation, both parties are working together to achieve a particular end result even though their aim, need and objective may not be the same. The company is willing to make you an offer to join and add value to their business. You as a prospective employer is also agreeing to accept the offer based on what value you perceive you can add to the business.
Tip 2 : Be Prepared
Most job seekers will lose out when discussing their salary just because they are not prepared. Preparing well ahead for this question can help you to be armed which better information which can guide your request.
You need to be prepared how you are going to answer the question. Luckily, recruiter and company are kind of a little silly. Once they are past asking us for the questions, the next question that comes in is how much are you willingly to accept for this job?
What ways can you be prepared?
- First is to practice what you are going to say. The worst you can do is going in and mentioning an offer first. The best you can do is to not be the first to make an offer. Unfortunately, in real life, we are having different negotiation skills. So the trick is to defer from being the first to make an offer.
- The second preparation step is to be making informed research. You need to have answers to certain questions that can help you negotiate successfully. You want to know.
- What industry is the company playing in- Different industry pays based on certain criteria. Also, if you job role is within your niche, then you might have a chance of earning higher than if your job role is a secondary role to an industry.
- What is their financial strength- How strong is the company compared to competitors? Are they a startup or they are well established
- What is their salary structure – How do they pay their staffs? Do they have a fixed salary structure? Example some companies have a certain amount they pay e.g for entry levels no matter how much experience you might have.
Tip 3: How much are you worth?
How much are you worth? Do you know how much people with your skills and level of experience are earning? Now may be the right time to find out. There are lots of salary calculators that can help you make a decision. Some of these best salary tools are:
Find out how much you are worth and then use that as a guide in your negotiation.
Tip 4: Be flexible
Really be flexible. The best successful negotiators know that negotiating towards a win-win outcome is the best.
Once you have done your research and you have a salary in mind, whenever you are asked for your salary expectation, always remember to give a range.For example, say something like
“I will like to earn between this range”. When you do this, your recruiter understands that you have given them a room to negotiate. They then can now make you an offer and the discussion can continue from that point until you successfully arrived at a figure that works best for both parties.
Tip 5: Be realistic
This point is very much necessary in terms of a lot of factors. I have been opportune to sit in interviews where the job seeker is asking for a range that is actually outside the power of the employer to pay.
This is why it is important that you do your research and you prepared very well.
The answer to the question “what salary are you willingly to take” should not make you scare or fidget. Remember that the whole job interview is a discussion between two colleagues who are seeking to arrive at a position that will benefit both parties. Do not be too rigid and at the same time, don’t just take anything thrown at you.
Who knows, you might just negotiate your way into a much better salary.