Tips on Salary Negotiation

One of the most important aspects of any job is the compensation it offers. This is one of the most crucial points of discussion while a company or a candidate finalizes a recruitment deal. There are certain things which you must keep in mind while negotiating the salary.

Be ready to discuss the salary

While you are going to appear for an interview, keep yourself mentally prepared to discuss the salary aspect. Don't get panicked when the recruiter takes out the salary issue. Discuss it calmly.

Have a salary range in mind

While negotiating the salary, have a range in mind and know the level below which you can't afford to go. Study the market properly and know what the companies are offering for a profile like the one you have applied for.

Don't be in a hurry to discuss the salary.

Be patient and let the recruiter give you a positive signal that he is interested in hiring you. Impatience may prove to be costly for you.

Don't jump on the figures as the discussion starts.

Try that the recruiter should make an offer before you speak out a figure and then negotiate it. You may ask questions like, what does the company offer for a position like this?

When the recruiter asks you about your expected salary, try to turn the ball in his court so that he makes the offer first. If that is not possible, give him a range rather than giving him an exact figure. Don't keep the range too broad otherwise you will be offered something towards the lower end. It will be better to say something like I expect something around late forties.

Many companies won't like to give you a very high basic salary but the benefits and perks will add up to a big amount. Take the total amount offered into consideration. May be you can negotiate on a club membership, company paid vacation or bonus.

Let the whole discussion proceed in an amicable environment and even if the discussion doesn't materialize because of the salary issues, do not ruin your personal relationship with the recruiter. The world is round, you can get to see the same person somewhere else in the future.

When you and the recruiter reach at a mutually agreeable figure, get the offer in writing.

Source : Internet