Motivations are many in life, some get motivated from positive appreciation, and some get motivated by negative humiliation. Different people with different mentality for different strategies, but the biggest motivator irrespective to positive or negative ionic is money. The only factor which humans practically associate with growth and makes the job market volatile and competitive. Gone are the days where job stability and sustainability matters a lot. A maximum couple of years is the tenure for an individual to sustain in any organization nowadays due to the fact other competitive firms always offer more than the current pay scale.
But just due to this factor, leaving a secure job may not be a good nut to crack because to make the job advertisement lucrative the showcased salary and offered salary may have the variation because the employer and HR sitting at the next side of the table is way more intelligent which creates an urge at the other side of the table to become smarter as well. Hence smarter the candidate greater would be the pay package. Thus for all the agile and vivid candidates and potentially the best job seekers below are listed some do’s and don’ts while negotiating salary with HR.
Don’ts while Negotiating Salary with HR
1. Don’t Skip Negotiating
Probably the biggest mistake is merely accepting an offer received. Research shows that younger job seekers or freshers do that because they don’t know how to negotiate salary, lack confidence and dislike the act of negotiating, due to which at times they don’t understand the potential impact of their decision.
Settling for a lower salary than worth can have major financial consequences, both immediately and down the road. In the short term, is to earn less, receive smaller raises because most raises are based on a percentage of current salary, and in the long-term, being underpaid gives stress. Accepting a low offer can also hamper earning potential later, as future employers might ask for salary history when determining how much money they should offer you.
2. Don’t Accept a Job Offer Too Quickly
Always ask for time to review an offer and respect the time limit agreed upon to make the final decision. If they asked for a revert within a particular frame, all negotiating should be done within that frame. However, even the best offers should be reviewed with a clear head and without the pressure of a future boss or HR director staring at you.
3. Don’t Reveal How Much You Would Accept
Information is the key to any negotiation, and a common mistake job seekers make is telling the HR what they’ll accept. It can be hard not to offer this information, especially if the HR asks for salary history. Still, if at the earlier stage this kind of information is furnished, it creates less room for negotiating a better offer later. Always try to remain as noncommittal as possible when asked about salary requirements early in the interview process.
4. Don’t Make a Salary Pitch Too Early in the Process
Asking earlier in the process can be perceived as being too focused on money rather than on the job itself, and it may also force at an early stage to reveal what one would be willing to accept. Yet, many job seekers begin salary negotiations too early in the process. The ideal time for talking salary is once you get the job offer. It’s at that time when it can be asked for more specifics about salary, bonuses, commissions, insurance, and other perks.
5. Don’t Ask for Too Much in a Counteroffer
It’s not a good sign to renegotiate everything in a job offer. If that’s the case, either candidate or the employer or HR has misunderstood the situation, or one of them is trying to take advantage of the other. Trying to swing things the way isn’t likely to work in such a scenario.
Also Read: Top 10 Highest Paying Jobs in India 2020
Tips on How to Negotiate Salary with HR
1. Calculating Your Value
One must know exactly how much value he/she can offer an employer before beginning the process of negotiating a salary. Candidates must be sure about their value as an employee and consider using the below factors to justify your desired salary:
- Geographic location
- Years of industry experience
- Education level
- Career level
- Skills
- Licenses and certifications
2. Research the Market Average
Having this data can support a more successful negotiation. Knowing the market average gives a good baseline for salary request and can even be used as a justification. This includes factors like salaries listed from a past job or relevant job postings. Here are some inquiries to consider as you start your research.
- What is the national average salary for the position?
- What is the average salary in your geographic location and cities nearby?
- How much do similar companies in your area pay in this position?
3. Prepare Agenda Points
Developing negotiation notes is always helpful to answer the question such as: Why do you feel you deserve a higher salary than the one the HR is offering? Putting together a few talking points as listed below before interacting with HR could be helpful
Results achieved in previous roles such as goals achieved, the revenue generated with the use of actual numbers.
- Years of industry experience,
- Skills or certifications, especially if it is in high demand within your industry.
4. Rehearse Well
Practising the talking points can help you gain confidence and identify areas of improvement. The best way to practise would be in front of a trusted friend or mirror.
5. Be Confident
Once you have done the homework and equipped well with the information, what matters most is one needs to be confident about what HR is asking for. Until and unless the projection is self-assured and assertive, the HR would always have the upper hand in the conversation and try to bring down the package that has been asked for.
6. Ask for More
One fundamental rule of salary negotiation is to give HR a slightly higher number than your goal. This way, if they negotiate down, you’ll still find yourself with a salary offered that is comfortable in accepting. If a neck to neck salary expectation is provided, HR will likely settle on the lower end, so be sure the number you give still ends with an amount you feel is fair.
7. Share Incurring Expenses
Share incurring expenses is always a good deal to ask for an increased salary which involves accumulating the cost of moving to a new city for the job, commute expenses such as train fare or fuel and wear and tear on your vehicle if the job location is very far. It’s not unusual for candidates to ask HR to adjust the salary to account for their expenses.
8. Be Flexible
Even if the employer or HR is unable to provide the salary amount you want, they may be able to offer other forms of compensation. For example, you will be ready to negotiate more stock options, extra vacation days or additional work-from-home days to combat a lengthy commute. Don’t be shy about asking for alternatives. In some cases, they may be more valuable than the actual package offered.
9. Don’t be Afraid to Walk Away
In some cases, an employer or HR may not be able to meet your minimum salary requirement or offer additional benefits that make it worthy. Or the HR may counter-offer with a salary that’s higher than their first offer but not as high as your request. In this case, you’ll need to decide if the job is worth the lesser amount. If it’s less stressful than your current position, it is closer to home or offers you more flexibility or more free time, but at a lower salary, it must be accepted in such cases with open arms. However, if not, you ought to consider walking away and seeking other opportunities elsewhere.
10. Express Gratitude
Once you reach the last offer phase of the hiring process, you’ve probably invested in a fruitful deal with your time and energy applying and interviewing for the position. The employer and HR have also invested time in the process so you must recognise this and thank them for considering you for the opportunity. Be sure to share any specific reasons why you’re excited about the role like the culture or the merchandise.
I hope these tips will help you to negotiate salary during your job interview. Comment down below if you have any queries.