Most candidates do not negotiate their salary they tend to accept the first offer that is presented to them and this is the biggest mistake that they commit if you don't negotiate your salary you end up losing a lot of money on the table hello everyone I'm shubham welcome in today's discussion I will be teaching you seven proven tips for salary negotiation I will also be teaching you how to conduct salary research for your job role and towards the end of the article I'll be providing you with a salary negotiation pitch that you can use to handle your salary negotiation effectively and professionally .
6. Leverage other job offers
1. Kill your fear
let's get straight into the video tip number one kill your fear most of the candidates do not negotiate because they have this biggest fear that negotiation will make them lose the job offer let me clear this misconception right away negotiation will never make you lose the job offer provided you do it in the right manner .
2. Preparation and research
This brings me to my second tip which is preparation and research the most important step in successful salary negotiation is to know your Market worth you can do this by conducting a thorough research and collecting data on salary comparison websites like pay scale classdoor indeed salary.com and seeing what the expected salaries are in your industry you can also go through various job postings and collect this data to have an overview of how much other peers in your industry are making this will give you a better idea of what range you can expect when you're negotiating your salary let me teach you how you can conduct salary research in your job role .
For example let it's open glassdoor.com let's see how much a data analyst in Mumbai is paid click on the search button now here you will get a very rich repository of data you can see what is the average base pay you can see the additional cash compensation structure you can also see the range that you can use when you are negotiating your salary now if you will scroll down you will also see a whole list of companies and how much is the average base pay for the role of a data analyst in Mumbai now as you know how important it is to conduct a thorough salary research.
3. Market value
Before you come up with the range it's equally important that you know your Market worth it's important to know that you will be paid on the basis of the following factors geographic location years of Industry experience years of leadership experience your qualifications skills certifications and licenses so when you begin to negotiate your salary make sure that you convince the interviewer that what value proposition you're bringing to the table make sure to consider all these factors when you are negotiating your salary to just Define the number that you are quoting.
4. Don't quote unrealistic numbers
This brings me to my tip number four which is don't quote unrealistic numbers by now you know one thing that salary negotiation is a real art the salary that you quote has to be backed up by strong research rather than just emotions so statements like the salary that you're quoting is very less or I have too many expenses that I have to take care is not going to work .
5. Tight salary range
Rather quote a tight salary range based on the years of experience you have your skill set and your qualification for example if your desired salary is 70 000 INR per month and the minimum number for which you are willing to settle for is 67 000 INR per month quote a tight salary range between 70 to 78 000 INR this way if the HR agrees for the lowest number which is 70 000 INR per month you still manage to get what you want however if the HR offers you below 67 000 INR per month which was the minimum number that you had in your mind you should gracefully decline the offer .
6. Leverage other job offers
Tip number six leverage other job offers if you have more than one job offer in hand you can use this in your negotiation process you can leverage other job offers to negotiate the desired salary that you want but you have to do this very carefully the hiring manager should not feel that you are threatening him that you're going to walk away if they don't listen to you remember if you have more job offers in hand it's a clear indicator that the other employers have already recognized your talent and they want that you should be on their team so if you have more than one job offer in hand you can say something like this to be fully transparent I have already received a job offer from another company with X salary and why benefits however I would like to be part of the team here is there any way that we can close this Gap
7. Please be polite
See even if the hiring manager is trying to be a tough negotiator don't lose your temperament because if you're having a conversation with the hiring manager regarding your salary expectations the likelihood of you getting selected for the position is already very high I'm sure if you will apply all the buff techniques you will be able to handle your salary negotiation like a pro now. let's have a look at the salary negotiation pitch that I have for you that will help you to negotiate your salary professionally so when the hiring manager asks you about your salary expectations you can say something like this I do understand the that the other positions that I have applied for offer salaries between xlpa to ylpa given my educational background skills years of experience I expect to receive a salary within that range however I would love to hear your thoughts regarding the same that's all for today.
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Business