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Salary Negotiation Tips

Friday, December 19th 2014. | Tips

Salary Negotiation Tips

Salary negotiation is something that has put a few knots in the stomach of individuals for very many years. Almost everyone goes through this at one point in life. Thus, it is important to make sure that you are well prepared for it so that you can end up getting what you deserve and more. There are some salary negotiation tips that you can work with to make sure you stay at the top, and some of them include:

Understand benchmarking

There is no need of wasting your valuable time on an organization that will never give you the remuneration you are worth. For this reason, you need to have an understanding of how employers decide the salary levels and adjust your job search accordingly. Various companies typically use a variety of benchmarking tools which include comparing their pay rates with things such as:

Average pay that other company in their industry give out to employees.

Average pay for other professionals who are at the same level as you in regards to education and level of experience.

Average pay for the professionals who are practicing in your field in that region of the country.

Most employers who are interested in talent will be found at the upper quartile of the market in regards to payment. Most employees however also know that paying more does not necessarily translate to employee retention thus you may not be able to negotiate for a higher sum than the norm regardless of how qualified you are.

Be patient

A wise man once said that the first person who brings up the topic of money normally looses out. This only means that you should refrain from per-maturely talking about salary as one of the salary negotiation tips. This is because it typically shows that you do not care about working for the company, but you are only focused on the dollar. However, if the recruiter brings it up, it would be an excellent idea to change the subject smoothly so that you can demonstrate your qualifications fully before discussing the salary requirements.

Talk about performance pay

You may come across an employer who may be interested in hiring you but is working with limited resources. If you want the job, it would be wise to open a discussion on bonuses that are performance based. Make sure you get the incentive pay agreements in writing to ensure that the employer is serious about going through with it.

Do not only talk about money

Among the salary negotiation tips that you should work with is not only to talk about money. This is because the discussions on the pay are supposed to be about the total compensation package. Go ahead and talk to the benefits specialists if the recruiter is not familiar with the value of the benefits package. Negotiating for the noncash benefits might end up bridging the gap between the employer’s offer and your asking price to land on a figure that works out well for both of you.