“So, what are your salary expectations for this role?”
Often, we find ourselves in a tricky situation because of this one question. Negotiating salary offers is never a piece of cake. It is a stressful, lengthy, and somewhat frustrating process. But it is also a necessary process you cannot skip over while contemplating a job offer.
Negotiating salary offers is essential as it helps your employers understand the skills you will bring to the table and helps you get the pay you deserve. Beyond the monetary benefits, the negotiation process will give you an understanding of how you can tackle difficult situations in the workplace while being professional, diplomatic, and cooperative.
One of the best job interview tips is to ride through the salary negotiation process calmly, rationally, and with some understanding. If you’re looking for better guidance about how to negotiate salary in an interview and how you can land the right job, our course has everything you need.
From useful CV tips and tricks to salary negotiation tips, the course covers the basics and the details in a practical manner. Moreover, with PowerPass, you get access to more such courses that can help you #RaiseYourPower through the tools of information and guidance. Click here to learn more.
How to negotiate a salary during an interview
According to Fidelity Investments, 85% of those who negotiated on salary, other compensation, and benefits, got at least some of what they requested. With the right salary negotiation tips and the correct timing, you can also succeed at getting the job you want at the pay you deserve.
We’ve come up with 5 mistakes to steer clear of while negotiating salary offers, that will aid you in getting what you ask for:
- Bringing up the offer too soon
Although we do work primarily for pay, it doesn’t give off the best impression if you make it clear that the pay is your main priority. This is why you shouldn’t bring up the salary offer too soon. For example, at the end of the interview, when they ask if you have any questions for them, don’t jump straight to the salary.
Wait for the interviewer to bring up the topic. Even then, when they ask you about your expectations, be careful about how you answer them. Don’t give them a number, and try to direct the question back to them.
For example, you can answer with a response such as “It is too early in the process for me to form any concrete expectations. It would be appreciated if you could help me with the salary range approved for this role.”
2. Getting emotional and rigid
You may come across many situations where the job is exactly what you’re looking for, save the salary. During such times, it is possible you may get frustrated and annoyed when you receive an offer that isn’t ideal.
No matter how shocked or upset you may be, try to conceal your emotions as best you can and carry out the negotiation with a rational mindset.
On the other hand, you also need to remember that negotiation works both ways, and the company also has its needs. Thus, being extremely rigid about your salary expectations may not work in your favour. While you need to be firm while negotiating salary offers, you must also be willing to adjust.
3. Not negotiating benefits other than salary
A company offers several benefits outside of a salary to its employees, such as incentives, holiday bonuses, paid leaves, health insurance, and more. Not considering these benefits would be a grave error on your part.
If a company is offering a salary higher than you expected, chances are the benefits provided aren’t as impressive. This is why you mustn’t overlook these benefits. In case the salary provided is less, the company sometimes compensates in other departments by providing more paid leaves or incentives.
Look at the complete package and consider all factors before you accept or reject an offer.
4. Undervaluing or overvaluing yourself
Knowing the value you will be adding to the company plays an important role in how you negotiate your salary. If nothing, it will build your confidence and help you put forth your points more effectively.
Sometimes, we don’t negotiate because we believe we’re still new to the industry and still inexperienced. However, speaking to other persons in a similar role or in the industry will give you an understanding of how much you should be getting paid. This helps you avoid getting lowballed by the employer.
However, keeping your experience and position in mind, try not to overachieve either. If you’re not confident about your previous work experience and professional accomplishments, it is best to not negotiate too much.
5. Worrying you’ll offend the interviewer
If you’re confident you deserve more than they’re offering and you have evidence to back your claim, the last thing you need to worry about is offending your interviewer. So long as you’re professional about it, your interviewer will not take any offence to you trying to get higher pay.
Accepting a less- than- ideal offer under pressure or due to fear of offending your employer isn’t the right way to go about the process. If you strongly feel you deserve more, you can tackle the situation by politely asking for a higher consideration or rejecting the offer.
We hope our job tips provided some clarity on how to negotiate salary in an interview effectively. For further assistance related to salary negotiation, resume format for freshers, or qualities of a good CV, join Kool Kanya's ‘Resume to Increment! Get your dream job’ course and get the answers you’re looking for!