You could be a new job seeker or experiences professional and whether you like the art of salary negotiation or dread it, the fact is that knowing salary negotiation tactics and avoiding the landmines, are key to finding the job offer you seek and deserve as well. While lots of articles you will find about the tactics on how to negotiate salary, this article on career advice, concentrates on salary negotiation techniques you need to avoid, mistakes that could lead to a much lower job offer or worse lose the job offer you worked hard to obtain. To know more about the essential salary negotiation tips, keep reading.
You can avoid the mistakes by following the tips below:
1. Not Negotiating the Salary Offered:
Probably the biggest mistake is that simply deciding to settle and accept whatever they offer you. Research says younger and female job seekers often commit this mistake, either because they don’t know or dislike the salary negotiation process. Settling for a lower salary compared to your worth can have lead to several financial consequences, both immediately and later. Long-term, being underpaid could make you feel resentful of your duties. Always remember that in many professions, it is expected for to negotiate your salary. Hiring managers are habituated with these conversations so ask for what you think you are worthy of.
2. Focus on Your Needs Rather Than on Value:
This is one of the most significant salary negotiation tips. A very common error is to limit tour concentration on what you feel you need or deserve instead on your value and the value you would bring to the prospective employer. Employers don’t care if your salary is not sufficient to cover your mortgage or student loan payments or even your living expenses. So, to negotiate a job offer, do it based on proper research and a clear demonstration of what value you could add to the organization.
3. Reveal How Much You Are Ready To Accept:
Sometimes it is difficult not to offer this information, mainly if the employer asks for a salary history or any salary requirement. Use our Salary Calculator to know the actual worth. You must know how to handle this situation. The earlier you give this kind of information, the less room you would have for negotiating a better offer later.
4. Weak Research or Poor Negotiation Preparation:
With several online sources and tools, you can get the better idea of the expected salary. Also use online tools to find out your prospective employer’s historical salary levels, policies for negotiation, and performance appraisals.
5. Making a Salary Pitch Quite Early in the Process:
The best lesson is that the longer you wait the more good is for you. Yet, there are many job seekers that immediately start with salary negotiations too early in the process. The ideal time is when you are the final candidate selected and the job offer is made to you.
6. Rejecting a Job Offer Too Quickly:
Many job seekers tend to reject job offers too early when the employer offers a salary much less than what they expected. Though in several cases, rejecting an offer might be the right decision, yet it’s best to ask for time to consider and negotiate the offer before rejecting it quite soon.
7. Accepting a Job Offer Fast:
No matter the interview process takes longer, but the best offers must be reviewed with a clear head. Many employers are willing to give you little time to reflect the job offer, which could be typically several days to a week. If you want to negotiate, this is the time to do it. But be respectful of the time limit set to make your decision. Always remember this salary negotiation tips.
8. Asking for Too Much in a Counteroffer:
If you find the job and the employer a good fit, but the offer is too less then consider proposing a counteroffer. If you make a counteroffer, know that you can’t renegotiate every aspect of the offer. You need to be specific. Never sideline this essential salary negotiation tips.
9. Taking Salary Negotiations Personally:
No matter what happens in salary negotiation process, try to remain professional. If the employer offered you a job, keep in mind that you are the finalist for the position and you need to act accordingly. Even if the negotiations are not fruitful, they did make you an offer, though it is not the one that you plan to accept. If negotiations don’t result well for you, move on graciously, thanks to the employer again for an opportunity and move on.
10. Not Asking the Final Offer in Written:
Once the entire process of interviewing is done and you have received a job offer which you can accept, the last thing you must do is to ask for the final offer in writing. No legitimate employer must have issues with this step of the process, so if they have any issue, take it as a red flag.
If you are a new job seeker then consider following a good detailed and often, free Salary Negotiation Tutorials and online Salary Calculators before you accept a job offer, without any negotiation.
With this, we conclude our discussion on career guidance tips for the day. And keep looking into this space by career advice for more career guidance, news, and updates.