Are You Making These Salary Negotiation Mistakes?
Do you fear salary negotiation?
It’s not only you. There are many more people like you who find it extremely difficult to negotiate their salary. It could be you’re not comfortable talking about money and it makes you feel weird.
Just because talking about money matters makes you feel awkward, it doesn’t mean that you should settle for whatever price your prospective employer agrees to pay you. It is your right to get a price that is fair and justifies your skills and values.
Furthermore, by failing in negotiating your salary you miss out on a lot of money that tends to accumulate over the period of time.
Salary negotiation is important not only if you’re already employed and are looking at a new job but also if you’re just starting out your career as your first salary plays an important role in determining how much progress you’ll make in your professional life.
To help you get started on the right path of salary negotiation, our career coach has highlighted some common mistakes that are generally made by employees while negotiating their salary. These mistakes must, therefore, be avoided whenever you find the conversation during a job interview veering towards salary:
1. Don’t Let Nervousness Ruin It
What you must remember is salary negotiation is very much a part of the whole recruiting process. It is not something only you’re going to do. The recruiters themselves expect you to negotiate salary with them. You must, therefore, never give in to your nerves. However, you must not rush into the conversation. Allow the recruiter to come up with the topic of salary. Also, you must always go prepared with research work about the job title, market rates and more so that the salary requests you make are in line with the latest industry standards.
2. Job Perks
Even though the salary is an important component of the job, you need to be careful in not losing the sight of other things that attracted you in the first place for the given job. Not always money has to be your only priority when you’re looking for a job. It’s alright to give other things a chance like an opportunity to develop new skills, better work-life balance, job flexibility or a satisfactory work environment. These things, however, are completely a personal choice and depend on your priorities in life. It is, therefore, important that you make an informed decision.
3. E-mail Correspondence
Do you feel more confident talking through email than having to do it in person? You might feel more comfortable discussing things through email but salary is not something that you should consider discussing it through online correspondence. It is because salary negotiation is a sensitive matter and you must not take it lightly. There are bright chances of things getting misinterpreted and that can actually jeopardize your job.
4. Inhibitions in Quoting the Initial Figure
By waiting for recruiters to make the first salary offer, you could simply be missing out your chance of revealing your expectations to the hiring team. You should, instead, consider setting parameters of the conversation by throwing out the first number or range so as not to let your chance simply pass by. There is absolutely nothing to be afraid about as long as you know what you’re going to bring up on the table.
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