7 tips to negotiate a high salary package!

7 tips to negotiate a high salary package!

Salary negotiation doesn’t come easy to everyone, not without prior expectations and preparations. “What are your salary expectations?” is the one question that is always hard to answer. You are afraid of landing on a low salary package if you keep the margins low and a much higher package claim can simply take you out without a chance at getting that job. Your expectations can be low or else you are at a loss while a much higher expectation can give them the impression that you are not affordable to them.

Here are some tips that will help you in salary negotiation to make sure you give them the right denomination in the best possible manner so as not so sound unrealistic or overambitious:

1. Know the packages

Do your homework beforehand. Get ideas on what the industry is giving to other employees in the similar positions. This will give you a more practical idea of what you could ask for and what not. While checking on the offers at other companies in the industry, also keep in the mind the years of experience they are looking for. Compare the package of those with similar working experience as yours.

Look into online portals or take help from friends, colleagues and relatives who have been in the industry.

2. Understand the job

Before jumping onto conclusions about laying forward your salary expectations, know the job well. Try to analyze what the role demands from you and how hard you will have to be working to fulfill the criteria. Consider how your skills are going to be useful for the job. Play on your strengths and that is possible only when you know what the company requires from you. They need the skills and you need the job.

3. Discuss experiences and skills

You are curious about the salary we all know that but it is always better to not jump about salary first and instead focus on keeping the discussion on the skills you have honed over the years, especially the ones that are highly required in the job. Talk about your previous experiences that are similar to this job and how they could be helpful in the current one. It is important to give a clear idea of what you are bringing to the table if they offer you the job.

4. Be patient

Instead of laying out your expectations, it will be better if you hear out what the employer has to offer. They are highly experienced in knowing what will click for you and what will not. If they want you in, their proposal is most likely to allure you to take up the job and if not, it is going to be a low figure that will want you to dash out of the room. Be patient if the offer is low and try negotiating. They do want to see if you know where you stand and will be up for a negotiation.

5. A range will work

Instead of giving a single figure, go for a range. You ought to let them know that you have done your homework and that your expectations aren’t unrealistic. The range should start just a bit higher to what you really expect and can go up to highest salary that the industry offers for your experience and skills. This should be determined from research and talking to people who know well, an HR probably will be your best friend for this task. You would also need to see that the range is not too broad.

6. Negotiate

Be ready to negotiate if the salary offered by them is lower to your expectations. They might also try luring you with other benefits and perks that come with the job but you have to decide your priorities. The perks are important too but do not lose focus. They might ask you for your package at the previous job which you know will be used to set up a range closer to home. Along with revealing the salary, you might mention that you are looking for growth opportunity. If your previous package was small, justify that with a suitable reason which could be that you lacked experience back then.

7. Make it work

Make them see why you deserve better and what you are bringing to the table along with you. You should be able to turn the tables in your favour if you want this. However, your negotiations should be reasonable and not too high.