If you have a job offer from a company, it is essential that you are clear about how much you are willing to negotiate on your salary. Once you define your objective, you can evaluate the market and thus be effective when speaking with your new employers. A candidate must appear for the interview with clear and realistic expectations to negotiate the salary with recruiters and secure a position. To assertively pursue salary negotiation, you must know the jobs market, the offers, and the remuneration for your professional level.
Job offers come in two ways: traditional or integral salary. The best way to negotiate a salary is by taking it annually. You must add up everything that a traditional or integral salary gives you in a year. This way, you will be able to compare how much money you will earn annually since it is usual to believe that an increase in the integral salary is good, but it can be dodgy if it is seen in annual terms.
What Do Recruiters Suggest?
According to recruiters, you must also investigate the context. Study the monetary flash in the company you want to work for, the most recent personnel movements, and the market situation. Furthermore, discover the gender pay gap. Similarly, it is vital to balance the results of your research and your personal needs to determine a realistic salary range and thus be able to establish a decent figure.
What Is Successful Salary Negotiation?
Successful salary negotiation for a position requires careful preparation and analysis. It is a good idea to wait for the prospective employer to bring it up to make sure they want to hire you. If asked about your salary expectations, avoid mentioning your last salary. You can tell the interviewer that you prefer to know more about the position.
Also, consider other options. If your salary negotiation is limited, consider other alternatives not directly related to remuneration, such as emotional benefits, types of promotion and development, and offers for your family.
Therefore, we want to mention 15 tips you should consider before and during the salary negotiation or a pay raise.
Know The Numbers Of The Sector
Set an amount to negotiate, but before doing so, find out how much they pay in the industry at the equivalent position. Find out how much other companies are paying for the offered jobs or the position you seek. You can search for public compensation studies, and we also recommend visiting sites like Glassdoor to compare the salaries that a sector or industry is paying.
2. Not Everything Is About Salary
The most obvious thing is negotiating on an economic remuneration in monetary terms. But remember that remuneration also considers benefits, performance bonuses, more vacation days, or simply reducing working hours. If the salary negotiation does not progress when speaking in monetary terms, move the conversation to include these concepts.
3. Start The Salary Negotiation Above Your Ideal Wage
You are indeed taking a risk, but you have to have a margin to give in when you start the negotiation. Not only to be able to develop a more friendly process with the other party, in which the goodwill of both is seen but also at the end of the process it will generate greater satisfaction than getting the same salary in the first attempt without having to negotiate it. Has it ever happened to you that you got what you were looking for on the first try, and you were left with the feeling that you could do something more?
4. Set A Future Date
If you don’t accomplish anything, set a future salary review date, and be sure to document and justify your progress during this time. At the time of the review, they will be virtually indebted to you because you will have demonstrated that the return on investment that your contribution represents is real.
5. When You Reach A Point, Stop Negotiating
When requesting a raise, you must demonstrate the return on investment you suppose for them. In other words, if you are going to charge more, you must assure an increase in revenue or a profit for the company. If you have already made progress in the negotiation and suspect that it will not go further, stop! Stop negotiating and evaluate if both parties are satisfied. Remember, the initial idea in a negotiation is that all parties must win.
6. Prepare Yourself Before Starting A Salary Conversation
Researching the salaries paid in the market for the position you seek is part of preparing for a job interview. Use tools like Glassdoor. Study the company where you are applying and adjust the desired amount accordingly. For example, a small business or start-up may not offer the same salary for a position as an established large company.
7. Recognize Your Value To The Company
Before the interview, consider your skills and contribution to the company. Do you bring with you a unique knowledge or a differentiating experience? Is the company offering you a new or existing position? Do you have the minimum qualifications required for the position? Are there other candidates in the process? Once you have all these answers, take the next step.
8. Memorize Your Arguments And Stay Calm
Base your arguments about salary on reasons that make sense to the company and in which they can see the value. Do not use personal reasons (for example, the need to pay mortgages, outstanding debts, or children’s education) to defend your position. Also, don’t go overboard on your application compared to your current salary. An increasing percentage of between 10% and 15% in the current state of the economy is adequate. But be flexible in the event of a negotiation.
9. Consider The Entire Package
Do not stop considering the entire compensation package, broadly and not solely based on salary. Even if the salary offered to you is not what you expected, there may be other non-financial benefits that could compensate you, and that could be more relevant—for example, a health plan, training, or flexible hours, among others.
10. Analyze Your Situation And That Of The Company
When carrying out a salary negotiation, you must understand the needs, objectives, motivations, and risks associated with you while working for the company. Identify what they agree on and what they don’t. Analyze the priorities of each part. Ask what is necessary throughout the process to get the information you need.
11. Define And Focus On Your Ideal Salary
You have to know how much you want to earn. If you cannot answer this question, not only are you going to look bad when it comes to negotiating, but you are also going to lose consideration when it comes to getting the job. Keep your expectations high with an excellent scale in mind.
12. Asking For A Low Salary Doesn’t Help
No more, no less. Your work is worth a raise, so it is fair to claim that amount. One of the great myths about salary negotiation is that accepting a low salary will increase your chances of landing the position you want. It is essential to advocate. Let your employer know what value you will bring to the organization and be compensated accordingly.
13. What Makes You Have That Value?
It is essential to define your company’s price and understand what knowledge, characteristics, and tools make you have that value. Because another company or the market is paying something similar is not a sufficient reason. You must know the reasons, and even more, be able to communicate, explain, defend and justify them.
14. How To Answer The Question Of Your Current Salary?
Does the company ask you what your current salary is? If the difference between your ideal and required salary is not vast, sharing it is not a problem. If the difference is more significant, you have to be prepared to handle the answer. In the first case, you could answer your desired salary directly. If the company insists, answer with the current salary and how you justify that difference. But don’t get defensive. Justify what characteristics you have and your value in the market, and why the previous company could not pay.
15. Request The Formalization Of The Proposal In Writing
Avoid taking the initiative to talk about it. In general, recruiters prefer to discuss salary after the first contact with the candidate. Control your anxiety and prepare for the moment when the conversation comes. Once you and the recruiter reach an agreement, ask for a written document formalizing the agreement, along with a job description and a list of responsibilities related to your new role. Make sure the document is signed by both you and the employer to ensure that they agree.
Knowing how to play the cards right in a job interview is essential. These 15 tips will help you do better in the salary negotiation phase. Keep in mind that the best route is patience, tranquility, and professionalism. Good luck in your next negotiation! Are you looking for new job opportunities that will help you develop your full potential? Join our os4w community. Apply Now!
If you are looking for a job, don’t settle for just sending your CV. As a job seeker, you can do a lot before actively finding a new job. For any job applicant, professional application letters can open many doors since, in them, you will demonstrate your professional profile adapted to the job post you are applying for.
In this article, we will share tips on how to find a dream job and apply for it effectively.
Key Points to Help You Find Your Next Job
So, before your job hunt, gear up to face the job market in the best possible way. Here are some tips that you should take into account:
Be responsible: If you want to be a successful professional, you must always be responsible and fulfill your obligations. Prepare yourself to handle the unexpected.
Use social media: We live in an interconnected world where you are left out of everything if you do not handle social networks. Learn how to use them to refine your job hunt.
Learn to deal with rejection: Growing up has a lot to do with learning that you won’t always get everything you want. Be ready for that.
Take on a job interview: To land any job position, you must be prepared to face the intelligent questions of a recruiter. So, rehearse answers to common questions.
Organize your time: Time organization will be everything in your life, and if you manage your schedules in advance, you will be more and more efficient.
Practice networking: Having a good network of professional contacts is essential to be successful in today’s job market. Spend some time on it.
Write a good resume: If you don’t know how to write a good resume that highlights your skills, you will never get a recruiter’s attention. Learn some resume writing tricks to stand out.
Find your goals: Motivation will be the engine that drives you towards success. A job hunt is tedious, so you must be prepared to overcome pressing situations and move on to better things.
Evaluate the role: Once you’ve got the job offer, the hard part is to decide whether to accept it or not. Take a moment to analyze every aspect while keeping the objectives in mind to make the right decision.
Value work: If you get a job that you like and enjoy, you must know how to value it and be grateful for it.
As A Job Seeker, What Should You Keep in Mind Before Applying for A Job Offer?
If you want to be successful in finding a new job that fits your expectations, do not rush! Keep the following points in mind before applying for the job offer:
Review your CV and the documents you will send to ensure you do not make errors in content, geography, or adaptation to the offer in question.
Analyze if the company you will apply to is serious if it has a presence in the market. And, therefore, as a job applicant, you can decide to apply for it or not.
Find out everything you can about the company you are applying to and see if this is indeed a place you would like to work.
Think about the future, what do they offer you, is there a future, is the company reliable, what will be the quality of work-life. Do not limit yourself only to the present to choose, evaluate future prospects.
Does the company culture match what you are looking for? Do they promote actions that are in line with your values? Is this the type of company you would like to work for?
Consider if they offer you the salary you want and do you need anything else. Think about their offer to see if you would accept less than you are worth, or you will enter a vicious cycle of devaluation.
Look for similar offers and compare the conditions. This will help you get an idea of how appropriate or inconsistent the particular job offer is. What should a reasonable offer look like? How do you want to move forward? Answering these questions will give you the answer to whether or not you should join that company.
How to Apply for a Job?
Now that you have considered several aspects of the search for the ideal job, you must know how to make an effective job application. It is a formal style that has the advantage that if you know the main guidelines of the structure, then it is only a matter of customizing it. Find out what they are and start preparing for them.
Professional Job Letters you Need:
In this case, the job applicant asks a trusted former boss to write a letter talking about why they are the right person for a new job based on the competencies that they demonstrated in their company. Thanks to their vote of confidence, this helps the new employer.
A sample cover letter crafts a very good impression of its author to get a certain job. Therefore, the applicant must write a clear, brief, and concise application first, highlighting their abilities and why they want to get the job.
Keep The Following Points in Mind to Make Your Cover LetterStand Out:
Personal data: You must include your physical address, your email, your landline and your cell phone.
Work experience: List from most recent to the oldest companies you worked for, the position and the main responsibilities.
Education: Explain where you studied and specify the certifications or any courses you took, including languages.
Personal references: Include references or recommendations from trusted people with whom you have worked.
outsourcing4work can help you with finding a new job. With us, you can easily search and apply for new jobs as they become available. Sign up today and land a dream job.