Negotiating Your Joining Salary

Most of us switch from one job to another, looking for a better position and better salary. So it is very important to get be offered right compensation package before you accept a new job offer. However, if you look at it from the potential employer's perspective, they would want to hire you at the minimum possible cost. So there is an obvious mis-match of goals between you and your future employer. This is where the art of negotiating comes into play.

You might argue that money is not everything, and you may want to accept a job offer on the basis of growth and learning opportunities. But doing that harms your future prospects. Employers are always looking for candidates who are earning well. A good salary is assumed to indicate competence and achievement that has been tried and tested by previous employers. So it is crucial to ask for what you deserve, without compromising a lot.

The Art Of Negotiating Salary

Yes, it is an art indeed to push the interviewer, and yet to know the limits. NFW brings you a little information about how to handle the salary negotiations during/after a job interview.

Don't Discuss Salary Initially: If you start talking money early on during the interview, you stand the risk of being rejected for a seemingly higher salary you may quote. If your demand is much in excess of what the other candidates have mentioned, you are out immediately. So let the interviewers "want to hire you" first. If they ask you about your expectations, just say that you are flexible and open to discussion.

Know Your Limits: Sometimes the interviewer may directly ask you the minimum salary below which you wouldn't accept the job under any circumstances. This puts you in a spot. So before you appear for the interview, think about the salary question and have figures ready in your mind. Decide what you want to earn, what you would quote initially, and what is the bare minimum that you absolutely need.

Sell: Once you know that they want you, it is time to market yourself as a useful resource who will help them further their own goals. Talk about your skills, experience, achievements and capabilities. This is what they are going to pay for, so give them all the information they need to decide.

Desired Salary: If you are asked to quote a "desired salary" figure, it is best to answer with a question. You could say, "What is the average salary for a job like this", or "What salary are you currently working with on this position". You could also say something as simple as, "I'd like to earn what other executives with my qualifications, skills and experience might earn in this job." If forced to quote a figure, be very careful of what you say.

Current salary: Try to avoid disclosing your current salary. If you tell them what you earn, you cannot negotiate any more. But if you keep it vague, they will be tempted to make their best offer if they really want you.

Decide: When an offer is made, do not take a decision immediately. Thank them for the offer and ask for a day to think it over. If the salary offered seems too low, consider the perks and benefits. Find out about them if you need to. Sometimes perks are almost 40% of the basic salary. So give it some time. Even if the offer seems great, think for a day before you sign on the dotted line.

If the offer seems too low and it is not open to further negotiation, turn it down politely. Thank them for the offer, but tell them that it would not be possible for you to accept those terms and conditions. Keep the whole discussion a very friendly process so that you can decline the offer without hurting any feelings or offending anyone.