Salary negotiation 101: Part 2

While changing jobs has been proven to be an effective method for securing a considerable pay raise, mastering the art of salary negotiation can help you secure a better compensation package. Most hiring managers will give you a chance to think about the offer and won't expect an immediate response. So don't hesitate!?In addition to our initial edition on salary negotiation, here are eight new tips that will assist you in tactfully and confidently requesting what you desire.

• Assess Your Skills and Highlight Them Confidently:

Knowing your soft and hard skills is crucial when negotiating your salary. Take the time to evaluate your skills, both interpersonal and technical, and be prepared to articulate them with relevant examples. Consider using a professional personality test to map your strengths and connect them to real-life scenarios.

• Construct your argument

have an understanding of salary ranges within similar companies and make reasonable requests during negotiations. Asking for unreasonable or unrealistic demands can be a major deterrent. It signals a lack of market research and can hinder the negotiation process. On the other hand, when candidates provide well-documented arguments that support their desired compensation package, it significantly increases the chances of a positive response to their requests.

• Determine Your Walk-Away Number:

Whether you're a junior or senior professional, it's essential to establish the minimum salary you are willing to accept for a particular job. Knowing your walk-away number helps you set clear boundaries during negotiations and ensures you don't settle for less than you deserve.

• Avoid Disclosing Previous Salaries:

When engaging in salary negotiations, avoid sharing your previous salary details. Focusing on your current value and future potential is more important than your past earnings. Emphasize the value you can bring to the company based on your skills, experience, and achievements.

• Timing Matters:

Timing plays a critical role throughout the hiring process. It's crucial to initiate salary discussions at the right moment, usually when you have a job offer on the table or when the employer explicitly brings up the topic. Opt for a phone conversation instead of relying solely on emails, as it allows for clearer communication and helps build rapport.

• Skillful Responses to Salary Expectation Questions:

When asked about your salary expectations, avoid hasty responses that may work against you. Instead, redirect the question by inquiring about the employer's evaluation for the job and the desired profile.

• Anticipate Counter Offers:

Be prepared for the likelihood of counter offers from the hiring manager. Adjust your expectations slightly higher to leave room for negotiation. This way, when the counter offer comes, you can work towards finding a middle ground that satisfies both parties.

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• Likeability is key:

Likeability should not be underestimated.?People will only argue in your favour if they really like you. Any action that diminishes your sympathy during a negotiation reduces the likelihood that the other party will try to get a better deal for you. This goes beyond being polite; it's about effectively managing the tensions inherent in negotiations. For example, it's about asking for what you deserve without appearing greedy, addressing the shortcomings of the offer without appearing petty, and being persistent without becoming embarrassing. Practice with other professionals or friends to avoid these pitflalls and assess your likeability.

Negotiating your salary requires careful preparation and strategic thinking. By following these tips and developing your negotiation skills, you can maximize your earning potential and secure a compensation package that aligns with your worth. Remember, effective salary negotiation is not about winning or losing, but rather finding a mutually beneficial agreement that recognizes your value and contributions.

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