How to Negotiate Salary
If you have been offered a job, it can be tempting to instantly accept it and then realize after careful consideration, that the package is not what you expected or is less than market value. You don't need to accept a job just because you have been offered it and if it doesn't meet your expectations, you are unlikely to stay for long. Most employers will have some room for moving on the salary, but you need to understand what you are being offered and be able to back up your request for a better salary. These are some ways to negotiate on your salary.
Understand the Package The salary is just one aspect of the package and in many cases, the other benefits can either meet or exceed the value of the salary. It is important to understand the full package before you go into negotiations. It may be that the salary is lower than your previous job, but the other benefits outweigh the difference. You should also take into account opportunities for development within the company. It may be that the salary is lower but there are more options for promotion than your previous employment or what competitors are offering.
Know Your Value Everyone has expectations on what they are worth and this is usually based on previous salaries and similar roles. It is important not to undervalue yourself when it comes to the salary you will accept based on your experience. Most employers will base your offer on your last role, so the last thing you want is to be paid less than you were previously. You should always aim to improve your salary while also taking other benefits into account.
Be Enthusiastic You should always enter salary negotiations by remaining enthusiastic about joining the company. If the employer thinks that you are only interested in the salary, they will probably end up regretting offering you the job in the first place. It is far better to show that you are enthusiastic about the role and the company, however, you don't want to be on a lower salary than you were in your previous job. If the employer won't move on the salary, stay open minded about what else they can offer you. The salary, although important, is not the only aspect to consider when accepting a new job.
Conduct Research It is not enough to just ask for a better salary, you need to be able to show that it is under the market value, if this is the case. If the job is different to your previous one, you might not have a clear idea of the market rate. You can find this out by conducting some research on competitors and similar roles, which you can use to support your salary negotiations. There are plenty of ways to find this out through searching online. Many companies don't actively conduct regular research, so they may not be aware that what they are offering is less than similar companies.
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