Updated on 15 Sep 2023
Updated on 15 Sep 2023
Updated on 15 Sep 2023
Updated on 15 Sep 2023
Updated on 15 Sep 2023
Talking about how much you're worth and how much you expect to be paid for the particular position is a challenging process in job interview. Your skills to negotiate your salary can improve with time and experience, but you can get a head start by reading these essential negotiating skills to end up with a better take home pay at the end of the day.
The first step to an effective salary negotiation is understanding how companies benchmark salaries for different positions. Most employers use the following guidelines when deciding how much they are willing to pay for the position:
With this information, you can set a realistic salary expectation for agreeing to do the job.
You should always reserve salary negotiation until establishing your qualifications, even if it is employer-initiated. Deftly navigate the discussion to topics that will allow you to highlight why you are the right candidate for the position. Once the employer starts seeing how you’re perfect for the company and the job vacancy, you will be in a better position to negotiate for the salary you have in mind.
In situations where you get a low-ball offer from a company you really like, don’t hesitate to talk about possible performance-based incentives that are beneficial to both you and the company. In some industries it is not uncommon to hear of employees asking for a salary review after six months on the job in exchange for the employee accepting the initial low-ball offer. If they agree with your suggestion, make sure the discussion is documented in writing so you won’t have any problem getting them to honor their side of the bargain.
In such cases, it is important that you make the employer understand that you are accepting an offer that is lower than you would normally consider because you can prove your worth and revisit the salary discussion at a later stage. If you prove, during that period, that you’re truly as good as you say you are, then the company will be willing to retain you by offering you more.
Another way to close the gap between your expected salary and the employer’s exact offer is to be open to non-monetary incentives. Whether it’s flexible scheduling, an additional paid time off, free meals, or discounts on gym memberships, be ready to think about these perks and weigh your options. More often than not, non-cash incentives are more effective in bridging the difference between your asking price and the offered compensation package.
refer by : https://hk.jobsdb.com/en-hk/articles/negotiate-for-salary-during-job-interview