Harry got selected as a manager in a multi-national company. He was immensely pleased with the opportunity. The same night he went back to his home and told his family about the equitable offer. All the family members returned back home after hearing the news and celebrated whole-heartedly. “Are you going to negotiate salary?” asked his younger brother Bob.
“I am thinking of that”, said Kevin.
“No don’t do that”, retorted his mother.
“Kevin, don’t listen to anything Bob says. You are getting such a nice offer in this company. Are you going to ruin that?”
Now his father also joined the conversation and said, “Yes Kevin, listen to your mother’s advice and just join the company”.
Kevin contemplated for a second and said, “Okay, I’ll just join the company first and then think about anything else”.
A few days later, he went to the company and was very excited to start his work. He met his colleague who joined the same day as him. Having the same age, experience and profile, they clicked instantly. After talking for several hours, Kevin got to know that his colleague is getting $10000 more than him. His mood has been off since then and now he couldn’t concentrate on his work.
A more in-depth study on salary negotiation
When you are working for a long time in an organization or a company and had a few years’ experiences then you hope for an increase in salary. This, in turn, could lead to our professional growth. Even if you are a fresher or an experienced person and you feel that your salary is not up to the standard than you should show the company your worth and make them realize that you deserve much more.
If we ponder more on the above example then we could understand that if Kevin had negotiated about his salary at the time then he might have been getting similar pay to his colleague. Since he was not very familiar with negotiation procedure, hence he was behind his colleague in terms of monetary payment. ?
Margaret Neale, Professor of Management, Stanford GSB once gave an example, “You’ve got a job offer and now you have a choice: negotiate or not. If you decide not to, and your buddy who got the same offer negotiates and gets a $7,000 increase, by the end of 30 years, your buddy will be making $100,000 more a year than you.”
She further explains that negotiation does not mean to get an agreement. But instead, it means not to get just a deal but an all-over good deal. To listen more from Margaret Neale on negotiation, click here.
What is your worth so that you can negotiate salary ?
Know your worth : The first and foremost step is to know your worth. Before a salary negotiation, you should research around and get to know that how much people are making of similar position and experience. You should reach out to more people or an insider of a company to know what might be a suitable salary. Salary remains varied for a different region, position or industry. Make a comparison of the result before starting a negotiation. You can also look online for more details.
Stay in contact with recruiters : Talking to recruiters enhances your chances to know what you are worthy of. Whenever a call comes from the recruiter, don’t avoid it. Always try to get the best from the conversation. In this way, you’ll know what are the qualifications and experience they require, and what will be the expected salary.
If you are fresher and want to know how to get a job fast, then staying in touch of the recruiter is your safest choice. Sign up at KnockingJob and get a call from recruiters.
Tips to negotiate salary
Show confidence and excitement : Be confident while going inside the room. Your confidence level can increase the chances of being successful in your endeavour. While discussing with the concerned officials, be a little excited about working for your organization so that the person in front of you can feel your sincerity.
Don’t show that you are earning less : While tackling the negotiation process, don’t tell them that your previous salary was this much plus additional bonus. Instead, include a bonus in your total salary and tell them that you want more than the current salary plus additional bonuses.
Show your importance : Show them the importance of your presence and what they can gain by recruiting you. You need to make them believe that they need you more than you need them.
Make-believe them that you are compromising : Always quote more than what you were expecting. Later when the recruiters or other officials give their own numbers then try to be accommodating and get your number down to what you expected. This might do wonders for you.
Don’t ever hesitate to discuss on salary negotiation. It is your right. Talking about it for the first time might be a tough job but later on, you’ll get used to it and can freely discuss with the employer. If you are worthy enough then the employer will also look positively towards it and hope for the happy results.