Many financial experts are predicting a double dip depression even though there are signs of improvement in the economy. Is this the right time to negotiate a salary or just accept it if you get a job offer now? There is no harm in negotiating salary if we you are sure that you are not being paid what the job demands. How to negotiate a salary now is the question that is occupying our mind right now? Here are some tips to negotiate a salary.
1. Know your worth: Many candidates end up getting salary much lower than what their grade demands as they are not aware of their worth. There are various online career websites that gives you details about how much you are worth based on various parameters like your experience, certifications, skill set, etc. You may also speak to your colleagues or friends who are in the same field as you to know your worth. Few of these websites include PayScale, Salary, etc.
2. Wait till the employer asks you: Don’t do the mistake of talking about salary before your future employer starts the discussion. If you initiate discussions related to salary, employer may feel that you are more inclined towards salary and not the job. This may backfire and sometimes may result in you not getting the job even though you have the required qualification.
3. Avoid clear figures: Another mistake that many candidates do when negotiating salary is disclosing a clear figure. It is always wise to quote your salary expectations in range or percentage; an example would be 10 to 15% increase or $50,000 to $60,000. Make sure not to quote below what the employer is ready to offer. If you know the employer has budgeted $60,000 for the position, don’t end up quoting $40k or $45k. This budget should give you an idea about how much this position is worth.
4. An early review: If you liked the job and the company, but is sure that the employer will not be able to give you the salary you expect then you can negotiate to have your performance review earlier than the usual review period and give you a raise.
5. Negotiate Perks: There are situations when you might lose a job if the employer thinks you are asking for a very high pay. In such scenarios, it is better to negotiate in get the money you want in terms of perks. You may negotiate the employer to give you bonuses or various other perks. This way both you and the employer can be happy.
Keep these tips in mind when negotiating a salary and I am sure you will definitely be able to get better salary regardless of whether the economy is in upswing mode or downswing mode.
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