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How to Negotiate the Salary You Deserve
When you are offered additional or extended jobs, they usually show you a better salary package. However, there are times when your salary doesn’t reflect the value of your work. If you don’t feel your education, skills, and strengths are not being compensated well, you can negotiate your salary.
Importance of Negotiating Your Salary
Negotiating your salary is a typical part of your employment process. Getting better salary negotiations is also an advancement in your career.
Companies show their appreciation through their salary to you. It also supports your career development and work-life balance. There are some perks that you can consider in your negotiations. This includes college tuition, training, health and fitness, and professional development.
Tips on Negotiating Your Salary
Negotiating your salary learning how to negotiate a raise can be nerve-wracking. But with practice, you can get the salary you deserve. Here are tips on how you can negotiate your salary effectively.
How to Negotiate the Salary: Calculate Your Value
Before you start negotiating your salary, you should know how much work value you can offer. You have to emphasize why you are a valuable employee. There are factors to know your values.
First, you should know your years of experience. If you have leadership experience, you should also state the years of your experience. Declare your education level, career level, and skills. If you have a license and certifications, present it to them.
Know the Market Average
Do your research before you engage with the negotiation. Know the national average salary for your position. You may also consider researching the salary appropriate for your geographical location. Some companies offer a better salary based on your geographical location.
Another thing to research is other company’s salary offerings in your position. By doing your research, you will have your baseline for your salary request.
Practice Your Pitch
Before going to the actual negotiation, rehearse your pitch with a trusted friend. Practicing can help you point out your weak points and areas for improvement. Aside from that, it can also help boost your confidence.
Ask your friend to listen and critique your pitch. It can also help you be comfortable with your presentation. You can also try to record your conversation in a camera or face a mirror. This way, you can have a visual idea of what to improve.
If you are anxious about the negotiation, try as much as possible to be gracious. Whatever the result, be understanding and appreciative. Your employer might mistake your proposal as demanding to avoid this situation, and you have to show graciousness in your presentation.
How to Negotiate Salary Offer: Be Confident
It is essential to be confident in your delivery. If you show confidence in your presentation, your employers will also feel confident about considering your feedback.
If you think that your employer offers you a lower salary than your value, be confident. Then negotiate the salary you deserve. Give some basis on your proposed salary—research about the reasonable salary for your skill and position.
There are instances where your employee cannot give you what you need. This happens if it involves higher compensation. Some may offer other alternatives for a salary such as extra vacation days or additional work-from-home days.
You can be flexible by accepting their alternative offer. You can also ask them for other alternatives, but do not be shy about asking for them.
Ask Higher than Your Goal
The bottom line for negotiation is to get a higher salary or goal. Make sure that you have a salary range based on other earnings in the same field.
Put in mind that the lower range should be fair enough for your skills. Most employees would settle at the lowest price on the range you have provided. Also, offer a range that is slightly higher than your goal. By doing this, you will still get a fair salary even if your employees try to negotiate down.
How to Negotiate the Salary: Don’t Settle for the First Offer
There will be instances when you need to figure out an offer. Do not hesitate to tell your employee that you need more time to think about their offer. But make sure to come back in 24 or 48 hours after the first meeting. Also, prepare your counteroffer.
Some employees will not meet your standard salary requirement. They might even offer you other alternatives. Others may offer a higher salary but not as high as your proposed amount. In this situation, you have to think if it is worth accepting the offer.
Show Your Gratitude
Once you are done with the negotiation, whatever the result is, express your gratitude to the employer. Thank them for considering your offer and investing their time in you. Be sure to specify the reasons why you are thankful. That’s how to negotiate salary offer.
If ever the negotiation didn’t turn out the way you want it, it is important to remain professional. Be friendly and still show gratitude. Those are some of the tips for negotiating your salary. Remember that your salary increase comes with a new job title. Be prepared for higher responsibilities. Prove to them that you are worth and deserving of higher compensation.
How to Negotiate the Salary: Positive Credit Score
Surprised? Some companies, especially financial ones, would check your credit score to know what type of person you are and how responsible you will be.
Having a high salary does not assure that you will be financially stable. There will be times that when your salary is not enough to cover the bills, cashmart.com.sg mentioned that you would likely want to get a loan from a money lender in tampines or anywhere in Singapore. Once you get a loan, repay it on time, and increase your credit score, and you can show that you are a responsible person.
Many companies like Singapore would first look at the employee’s credit record when they consider a promotion or a salary increase. Negotiating for a higher salary may not be as easy as it looks, but there is nothing wrong with asking to get what you honestly think is worth your hard work. Now you know how to negotiate a salary offer!