Negotiating Your Salary During A Job Interview
What is a salary negotiation?
Salary negotiations play a vital role between you and the representation of the company that you are applying for. Basically, the aim of the salary negotiation is to secure higher compensation for your particular job. Whether you are a freshly hired employee or a long-standing dedicated staff, salary is one of the things that anyone looks forward to as it represents the fruits of your hard work.
Should you feel as though your salary is not enough, requesting and negotiating for a raise is quite scary but important to address. Otherwise, your performance will be quite affected and you will feel partially demotivated knowing that you do not get the performance’s worth.
If you are in a job interview and wants to negotiate a higher wage, might as well be prepared by following these tips below:
- Be prepared to answer tough questions – Of course, the first thing to expect is that the company representative would ask “Why do you deserve this salary?” or “Why do you need a higher wage?”. Answering this question can sometimes take you back but you need to be honest and straightforward about your reasons.
- Elaborate your request – When it comes to requesting a higher salary, you need to prove that you are worth the investment and that you can become a company asset. You need to place your credentials and accomplishments that could benefit the company.
- Do not settle for less – An active negotiation and communication with the representative is important. Do not settle for answers like “yes” if you know that the offer is a minimal salary increase.
The importance of negotiating your salary with your employer
You need to keep in mind that negotiating your salary is something that is part of the employment process and that it is completely normal. If you think that you deserve higher pay to advance your career, so be it.
Since factors like childcare, training, university, and flexibility affect your salary, a pay increase is also a way of supporting your company’s work-life balance. Your salary is one of the factors that signifies that your company trusts and values your work and skills, so it is more than just a deposit to your account.
Proper salary negotiation tips to do during the job interview
Proper timing and be sensitive
In the cover letter or during the initial phone appraisal, referencing salary is a big no. Do not bring up the salary during the initial interview unless the representative is eager to hire you and has brought up the salary negotiation in your first and final interview before getting hired. On your initial interview, take this chance to impress them and show that you are the best candidate for the job.
Most likely you can address the salary negotiation during the second interview but you need to be sensitive and wise in mentioning this part. You do not just appear in an interview and bring up the salary increase all of a sudden.
What you need to do first is to express your profound interest in the position and in the company you are being interviewed for. Elaborate your strengths and possible contributions and even initiatives you can do so they could conclude that you are worth the investment and time. On the off chance that they bring up the salary, provide a price range so as to leave room for proper negotiation.
Do not be the one to first mention the salary
Being the rule of thumb, it is always important to let the employer be the one to provide the figures first. Being able to know their starting point is important so that you can provide an estimate of yours.
Some companies, however, will ask you about the salary expectations during the online application. If this is your case, do not provide the exact salary that you are expecting, instead, indicate your salary range just so the employer would have an idea that the candidate’s expectation is inlined with the company’s.
If you are not sure what to answer, you may ask and state it this way, “If I may ask, what is the salary range you are offering for this job post?”
Get your price right
You cannot simply guess nor demand the salary range you want. Definitely, no one wants to earn less but you need to do thorough research and homework of the job post and its responsibilities. Weigh down and perform proper analysis and calculations. Roll the Pay can provide and help you with some expected salary statistics.
Provide a reasonable salary range to your employer so there’s room for proper negotiation.
Politely defend your reasons
You do need to offer valid and compelling points for your position in every negotiation. discussion. Consider talking through your knowledge, skills, abilities, experience, and past accomplishments, especially those which have had a significant impact on the previous company that you have worked for.
If you are a fresh graduate, it is notable that you mention that you can be a great asset to the company providing that you state all the previous achievements you have made during your collegiate years and how your degree can be a substantial contribution to performing your tasks.
Whichever reason you want to put into, you need to have supporting data and proof of what you state.
Do not deceive your employer for the sake of raising your price
In a bid to negotiate your salary, never deceive a potential employer about your existing salary or concoct different work opportunities. The reality is going to come out soon and surely you do not want to tarnish your image to your employer.
Rather, when addressing compensation during an interview, highlight the strengths and contributions you may deliver to the company, and be transparent of your intentions.
Evaluate and think of the salary package
Make a careful assessment regarding the compensation package. You cannot just decline and insist on your expected range without breaking down all the benefits you will get and the coverage of your overall salary. Sometimes, the starting salary may be less than expected, but you need to also ask about the bigger picture in the long run. You should ask questions like “would health insurance, pension, holidays, be included in the salary package?”
When agreed upon, get it written in the contract
Kudos, you have earned the job offer and the pay you wanted! Request it in writing now. Don’t ever terminate your current employment without having the pay, job title, skills, and responsibilities, and other essentials details included.
Knowing how much you’re worth
It’s vital that you figure out the worth of your job critically considering factors such as experience and the location of your company.
Salaries vary widely by profession, length of service, and geography, and it would rely on applying for a fair pay offer to get the wage you deserve.
Roll the Pay can provide you with statistical data and analysis of the fair salary you deserve for whichever profession or job position you are eyeing. It can be scary to demand more and it can come quite surprising on your end if the salary is bigger than what you were demanding.
With that being said, meticulous research and comprehension are important before deciding for yourself what salary you are supposed to earn.
So what now after the salary negotiation?
It’s important to start planning about the next compensation agreement, even if you’ve already settled favorably or failed, so you can build yourself up for future success.
So what now after the salary negotiation? What to expect?
Your employer now expects highly of your performance and work productivity whether you have successfully negotiated your salary or not. Whether it is approved or not, you must oblige to the requirements and accomplish tasks. You need to prove yourself worthy of the position as this may reflect your work assessment that can be a substantial basis for future salary increases.
If a new job role comes with a pay rise, that’s more like a raise than salary negotiations. But although you’d have the same position, if you were offered a salary increase, your duties will also increase. You’ll have to prove you were right for deserving more pay after you stood up and proved your worth.
Your supervisor will have more respect for you and your expertise
You might find that your hiring manager respects and trusts you more and even ask for your guidance on bigger decisions. In addition, they will probably have more regard for you because they have seen the kind of confidence you have and how you see your job success at the company.
Food for thought
It’s important to know after the compensation agreement that it’s not the last and the least. If you end up taking on new duties, your work can become more challenging, or you may find yourself next year with a promotion.
A lot will change over the course of working in your company, so it’s important to make sure you’re getting paid for the work that you are delivering.
Salary negotiation is indeed a sensitive and tough conversation to have. But once you meet halfway with your supervisor, whether the agreement ends up being successful or not, you would still see greater outcomes in the future.
One is that you aim to hang around for a while at the organization, which is a positive sign for any boss. The second is that you’re someone who emphasizes the quality and integrity of the job they do and that directness and negotiation can be valued by your supervisor.