How to negotiate salary?

Salary negotiation is an important act in career progress. As we progress in our career, it is become important that our compensation is aligned with our professional growth. Here we discuss about the salary negotiation part in the job interview.

Review industry standards

Before negotiate your salary, research salary ranges of different companies for the positions you have applied for. Let’s consider following factors such as Level of work experience, Education and certifications and Location, etc.

Assess your market value

After the market research, assess your market value based on your qualifications and industry experience. Recruiters offer a salary package based on your competitive worth.

Evaluate other components

Apart from the salary the other components including allowances, HRA, insurance, bonuses, incentives, etc also part of your salary package. You can ask them to increase the other components apart from the basic.

Prepare a pitch

Build a pitch with your past achievements and how will your contribute to the company. While discussions you can show excitement and convey expectations.

Rehearse, rehearse, and rehearse

If you practice above points, it will ensure you deliver smoothly and convey the important points without missing any.

Have conviction in your strengths

There are chances that you may not project your convictions properly. To avoid that make a realistic self-assessment of your educational qualifications, social competence, attitude, and other strengths, and that you have belief in your competence.

Timing

Take care of timing when you are initiating salary negotiation. The best time for salary negotiation is to be discussed towards the final round of interview.

Promise what you can deliver

It is important to deliver the output what you have promised in the interview. If you have quoted a figure to your employer, make sure that you have the competence and knowledge to live up to it.