Best Salary Negotiation Tips

7 Best Salary Negotiation Tips

Money is the most sensitive issue in the whole hiring process. Discussing the compensation often causes anxiety in both employee and employer. Here are the best salary negotiation tips to make the process of salary negotiating efficient.

1) Research

Before the interview process begins, contact the professional organization representing your career field. You can examine your monthly cash requirements as soon as they provide you with your salary information. Remember that approximately 30% of your gross monthly salary is deducted once your taxes are added to your paycheck.

2) Determine your skills

It would be best if you understood that different segments of the economy require various skills depending on the industry setting. Once you have established what your skills are and what they are worth to the current employment market, you will know the limitations of your negotiation.

In stating your salary range, avoid basing your desired salary on your current salary. Always tell the truth when it comes to your past salary. It is acceptable to extend a range to approximately $6,000 to show that you are within the company’s price range but interested in more compensation.

3) Weigh the company’s compensation package

To determine your fair market value for a specific job, you should consider the job offer's economic, geographic, and industry factors. Weigh the benefits of compensation and promotions, insurance, allowed time off and retirement settlements of the proposal to ensure a fair proposed salary.

4) Sell yourself

If you know what you could offer, the company requires a more considerable income; never say it directly. Once you sell yourself discreetly, the interviewer will understand that the proposed salary is inappropriate for your background.

5) Have a positive attitude

In negotiating, never compete. Negotiation is a process that could benefit both parties. Understand your needs and those of the company.

6) The final offer

Be aware of when the negotiation is done. Pushing further when a deal has been set could give a negative first impression on your part.

7) Show what you are made of

The interview is only the first step in having an enhanced compensation. Once you are hired, offer your skills to the company and prove your worth by doing quality work. You may even get a promotion for doing so.

Based on a survey conducted by the Society for Human Resource Management, four out of five employees are willing to negotiate compensation. Understanding these essential tips will allow you to enhance the terms of your new job.

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