You created a killer resume. The interview went off smoothly and you know that a job offer is coming your way. There is one major hurdle that you still have to overcome; salary negotiations. Yes, these can be highly stressful, particularly in this tough economy. Competition is tough and vacancies in Sri Lanka and various other countries have become very limited so you don’t want to turn off your employer. What should you do and what shouldn’t you do? Here are some dos and don’ts for the salary negotiation process:
Do some research beforehand
Yes, you might have a figure in your head, but it is a better idea to base your ideal pay on hard facts such as company billing, industry standards as well as the availability of quality candidates for the job will get the negotiations going further. Employers already have a range in mind when they are hiring. Therefore, you need to do your research to know what you can ask for without sounding unreasonable.
Don’t bring up the salary first
Generally speaking, whoever brings up the salary first will lose. When one side mentions a dollar figure, the other has room to negotiate. Thus, whether you are working your way to one of the job vacancies in Sri Lanka, India, or in United Kingdome or United States, even if the employer asks you about your expectations, you first ask them their range. If you volunteer a figure, they will discuss your salary based on that amount. Let them mention an amount first.
Do give a salary range
If the employer presses you to name a figure, you can still maintain the upper hand in salary negotiations. How? Rather than locking yourself in to a particular amount, state a range you find suitable. This gives you wiggle room and it means that you can still negotiate.
Don’t accept the first offer
If the employer has put forward the first salary figure, don’t accept it right away. In most cases, the first offer is not their best offer because they are expecting you to negotiate. Even if competition is stiff, employees do negotiate for their salary and you can do so to ensure you are getting the best offer. Don’t sell yourself short by accepting the first offer because you will eventually feel as if you were taken advantage of.
Do make a strong case for yourself
Negotiation talks will not necessarily go without a hitch. This doesn’t mean that you should be deterred; this is the time where you sell yourself. Use your qualifications, experience and achievements to your advantage here. Avoid quoting your previous salary because that’s not the way to impress them and there are other candidates too. Use the fact that you are a perfect candidate as your weapon and you will get a much better offer.
Don’t be overconfident and stubborn
Yes, you need to have pride in yourself, but understand that a negotiation is not a dictation; it is a discussion. Listen to what the employer has to say and don’t get overconfident or stubborn or else you might lose the offer entirely.