Salary negotiation is an important part of the job interview process.
- You can negotiate for a good salary when interviewing for a new job
- You can also ask for better pay for your current job
If you are getting a new job, this is the best opportunity to get a pay package that you are comfortable with. You do not want a situation where you accept a job only to realize that your pay package is lower than the industry standard or even the standard for the company.
Take your time, prepare for the negotiation. You have come this far so you may as well get this part right.
Below are tips that will get you the best pay package:
Do your research
Go online and look for salary information for positions such as the one you are interviewing for.
Base your research on your level of experience and education standard. The company could have traditionally offered the job for a lower salary scale but if you put across an argument based on experience, you can get a better salary grade.
Make a good impression
Make a good impression during from the first time you start the interview. You want to appear as personable to the interviewer as possible. Though subjective, a good impression makes you appear respectable and deserving.
Prove your value
Sell yourself based on your value as an employee. Function heads always want to report back to the company that they have the most versatile, skilled and qualified team. If there is a gap in your skills, provide proof that you have enrolled for an executive MBA to improve your skills.
Show your value, with clear examples of how you have delivered profits and other business results. With good practice, you can appear to have a lot of value, even if you have only a few years’ experience.
Get this part right and you will convince the interviewer that you are worthy of a higher salary.
Accept more responsibility
If you are negotiating for a salary increase for a job you already hold, it can get very tricky. Usually, companies make blanket salary adjustments at the beginning of the year and it is very difficult to get an additional increase above the normal.
One of the things you could do in this situation is to take on additional job responsibilities. If your boss is going on leave for instance, ask him or her if there is any way you can ease the work load.
Do this a couple of times and next time you ask for a pay increase, your boss may just grant you your wish.
Negotiate for allowances instead
Your salary is subject to taxation. Therefore, it is actually counterintuitive to negotiate for more pay and then have a large percentage of it go to taxes.
It is better to take a different approach. For instance, if your work involves a good amount of travel, ask for a reasonable travel allowance.
You might even find that you are earning so much from your allowances that you will never need to ask for more pay.