Salary Negotiating
Salary negotiating is a critical aspect of the employment process where candidates seek to establish a compensation package that reflects their skills and market value. This negotiation often occurs later in the interview process, typically in the second or third round, allowing candidates to demonstrate their worth before discussing salary. Effective salary negotiation requires candidates to be calm, professional, and prepared with knowledge of the average salary for their position, as well as a clear understanding of their minimum and maximum salary expectations.
Successful negotiations hinge on confidence, listening skills, and the ability to articulate one's value to the organization without appearing demanding. It is generally advised for candidates to wait for the employer to introduce salary discussions to avoid raising concerns about their priorities. Moreover, candidates should be prepared to highlight their contributions, such as past performance metrics, to justify their salary requests.
Overall, salary negotiating is not just a transactional exchange but a vital part of forming a positive long-term relationship between the employee and employer. By approaching negotiations thoughtfully and strategically, candidates can achieve a successful outcome that aligns with their expectations and the company's readiness to invest in their talent.
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Salary Negotiating
Salary negotiating is a delicate topic when it comes to employee-employer relationships. It is not usually discussed until the second, or even third, interview. For applicants, it can feel unpleasant and difficult and can become nerve-racking and even embarrassing. It is best for interviewees to remain calm and professional when negotiating a salary.
At the start of the hiring process, an employer will try to determine an applicant’s salary range. If an employer feels that an applicant is worth keeping, the company will generally find a compromise for the potential new hire and negotiate an agreeable salary.
Background
In any job, a salary is the monetary incentive that a company gives to an employee for their services. Salary is part of a payment package that also includes benefits such as health care, personal time off, and other incentives. While these incentives are not usually negotiated, the salary can—and many experts say, should—be negotiated during the interview process.
In order to effectively negotiate a salary, one must be confident, knowledgeable about the median salary of their position, flexible, and patient. When people negotiate—whether it be nuclear disarmament or who feeds the family pet on certain days—both sides must be clear about the outcome so that everybody can proceed without uncertainties.
Salary negotiating is similar to other types of negotiation. It takes confidence, a professional attitude, listening skills, and flexibility in order to have an open and constructive dialogue. The applicant must be firm yet flexible. Often, when in negotiating situations, people tend to be defensive and can be argumentative. The best way to make sure this does not happen during an interview is to practice with somebody who has experience hiring people. The applicant will enter the negotiating procedure with some experience, confidence, and a relatively calm disposition.
Experts in the hiring field argue that applicants should not accept an employer’s first offer. If the applicant feels that he or she is worth more than what is being offered, the applicant should have both a minimum and maximum salary in mind to see if the employer can at least match the minimum base.
Numerous websites—including www.glassdoor.com, www.salary.com, and payscale.com—provide average salaries for particular positions or industries. They show the market rate that companies usually pay for the position for which one is applying. They also provide tips and advice on how to negotiate salaries.
To successfully negotiate for a higher salary than what is offered, the applicant must demonstrate why they are worth the extra investment. Sometimes, an applicant has been in the same position or company for a number of years, doing the same work without change. This can have a negative impact on salary negotiations, because the applicant must have a clear reason why he or she deserves a higher salary than either his or her previous salary or what is being offered. One way to discuss raising a specific salary is to talk about pay performance. Pay performances are bonuses payed to the employee based on how well he or she can increase the revenue of the company. If applicable, a contract can be acquired to signify the pay performance.
Impact
Employees generally introduce the topic of salary late in the conversation with a prospective employee. Applicants should wait until the hiring manager brings up the topic before negotiating the proposed salary. If an applicant talks about salary earlier in the interview, the hiring manager may have second thoughts about continuing the interview process. It is even worse if the applicant discusses salary at the beginning of the interview, before even the job responsibilities are discussed. It is best if the applicant remain silent during the salary negotiations. Letting the hiring manager talk more is the best strategy, so that the applicant does not seem nervous or overreaching.
Prospective employees should be careful not to come off as demanding a particular salary. One must argue his or her value to the company. An applicant who merely throws out salary numbers without discussing why he or she deserves a higher salary than is being offered is likely to end up with a negative outcome. Salary negotiating during the hiring procedure can be either a long or a short discussion, depending on the nature of both the applicant and the employer. It is important not to take negotiating too personally or to change the salary request too frequently. The length of time negotiating is not as important as the outcome, where both sides have agreed and a settlement is made.
In conclusion, when negotiating salary, a candidate must be informed, focused, composed, and reasonable. Negotiating is a social skill that takes a good amount of intuition, competence, and strong will. A job is an integral part of a person’s life, and one may be in the same position for years. Therefore, beginning a relationship with a company where one is happy with his or her salary base and position will foster a healthy relationship for both parties.
Bibliography
Chapman, Jack. "Salary Negotiation Tips: Thou Shalt Not Agree." TheLadders. TheLadders, n.d. Web. 6 June 2015.
Coe, Alexis. "‘Don’t Ask, Don’t Get’: How to Fix the Gender Gap in Salary Negotiations." Atlantic. Atlantic Monthly Group, 10 Jan. 2015. Web. 6 June 2015.
Hansen, Randall S. "Avoiding These Ten Salary Negotiation Mistakes." QuintCareers.com. Quintessential Careers, n.d. Web. 28 June 2015.
Ladimeji, Kazim. "Ten Questions to Ask When Negotiating Your Starting Salary." Recruiter.com. Time, 17 July 2015. Web. 20 July 2015.
Long, Karawynn. "Salary Negotiation: Everything You’ve Been Told Is Wrong." Fortune. Fortune, 9 Nov. 2012. Web. 10 June 2015.
Roth, J. D. "How to Negotiate Your Salary." Lifehacker. Lifehacker.com, 23 Apr. 2014. Web. 28 June 2015.
Smith, Sarah. "This Is How You Handle Current Salary Requests during Salary Negotiation." Forbes. Forbes.com, 25 June 2015. Web. 25 June 2015.
Swanson, Peter. "The Secret to Smarter Salary Negotiation: Vacation Time." PayScale. PayScale, 10 July 2015. Web. 20 July 2015.