Negotiating for your salary
If you are a Fresher, chances are you don’t know how to negotiate for your salary and that’s how you can get hired at pay which is much lesser than industry standards and probably well below your earning potential. Not just freshers, but even experienced individuals have a hard time negotiating their salary for promotions, increments or when they switch jobs. Money tends to be a sensitive topic and we don’t follow a strategy when we go and negotiate your salary with HR or your boss.
Why getting an increment is important
Increasing your professional income is vital for career advancement as and when you decide to move on to another role, it can be for the same company or when you join a different organization. Owing to the post-pandemic Job shuffle Job Vacancy In Delhi are at an all-time high as people are switching jobs which offer them a better work-life balance.
Employees put in a lot of thought and compare their salaries which affects their psychology and in the long- run their work productivity. In every organization, HR managers, and even third-party recruiters are incentivised to keep hiring salaries low and negotiate a hard deal with individuals.
Negotiating is an acquired skill
Negotiating is an art as well as an acquired skill. Your mindset needs to be res-structured to approach this issue. Due to high competition in India for a single job, companies get an edge over Freshers. Any signs of Desperation or your need for the job if detected in your body language, or how you speak, can be used by companies to hammer down salaries and hire individuals at lower pay.
4 Tips to follow while negotiating for your salary
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Never settle for Less
The first rule when you go into a salary discussion is to never settle for the first salary amount that is put on the table. A golden rule for good negotiation is that you should be able to walk away if required.
When you take the first offer, the whole idea of negotiation is thrown out of the window. You lose your bargaining power and just simple transfers the power back to your employer.
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Do thorough Research
Before approaching your employer/ HR with this issue, everything should be prepared from your end. It is imperative to do market research and know what your role is worth before you step into Job vacancy interview and negotiate for a higher salary.
With all the research gathered, you would then be able to enter a salary negotiation with more confidence and back your claims with more ease.
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Practice before the final meeting
Practise negotiating with a mentor/ experienced individual before the actual negotiation. You should have a list of all your achievements prepared and read it before the actual negotiation so that you start with a positive state of mind and this will reflect positively in the way the company approaches the negotiation.
Your focus should be on Base salary for any negotiation, since it will act as the foundation for all future compensation factors– annual bonuses, commissions, provident fund, insurance and even stock options.
Living in metro cities like Delhi, Mumbai, Bangalore is very expensive. Base salary for Job vacancy in Mumbai is usually high.
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Take it as a Chance to Grow
Negotiations won’t always go your way. There is always a chance of a fallout happening. The hiring manager may not agree with you on your points. They may even outrightly deny your request. However, you should take it as a learning experience in your practice of being more assertive. This will boost your self-confidence.
Follow these tips in your negotiation and have confidence in yourself.
