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 Do your research
Learn as much as you can about the pay scale of the company that wants to hire you. Find out the industry average, as well. As part of your research, you need to have a clear idea of what your minimum salary expectations are. Do the calculation in advance and decide what your deal-breaker point is. There's no point wasting your time and theirs interviewing for a low-paying job in a company or industry that may not be able to offer the wages you need.
Don't tip your hand Leave the salary expectation question blank on application forms, and don't mention a specific salary level in your cover letters. You want to get past the paper screening into the "to be considered" file without anyone thinking your anticipated salary is too high. You also don't want to lock yourself into accepting an offer of Rs 3.2 lakh per year if the decision-makers had budgeted up to Rs 5 lakh to fill the vacancy.
Understand your value Consider whether you are in a position of power. If you're in high demand elsewhere, you have leverage. Draw attention to it, but be careful not to emphasize it too much. Avoid acting overly confident or cocky. It's okay to mention that you have interviews at other companies, but don't try to force a favourable decision. Let the company bring up the salary issue Avoid being the first to propose a salary figure. Tell them you're interested in a mutually rewarding career with the company and you're sure you can agree on an acceptable compensation package. If you're backed into a corner, introduce your salary range, but make it clear that it is "up for discussion." Don't ramble on. Say what you have to and then be quiet and listen. Emphasize the benefits of your skills When you talk about your last job, describe your accomplishments. Quantify your successes in terms of cost savings, increased productivity and overall contribution to the company. This will help the interviewers recognise the benefits of having you join their team, and will help boost the salary offer. If you earned performance bonuses or incentive awards, mention those so that you'll be viewed as an achiever who is of high worth. Don't blink Listen to how the offer is presented. When the interviewer or prospective new boss states a salary figure, nod your head to signify you're considering it, but keep quiet. If they are offering you less, the figure could make a quick jump in those few moments of consideration. Be reasonable From your research, you know the offer is low. What do you counter at? If you choose 10 per cent, you may have to accept a saw-off at 5 per cent. Don't be confrontational. It's a calculated risk to walk away from a job offer. They might call you back with a revised starting salary or they might just close your file and hire someone else if they feel you've been greedy, arrogant or overly demanding.
Be prepared to be flexible If you want this job, consider agreeing to start at the salary level they're offering, so long as they offer additional bonuses for specific accomplishments. Be prepared to define them. Money is important, but consider the complete other perks and benefits and get them in writing. Ask about the frequency of potential salary increases. As with any negotiation, your goal is to create a win-win situation. Note: This article is from Economic Times |
