The Art of Salary Negotiation

rahul0127

Rahul Verma
Friends,
How do you feel about the art of salary negotiation?Is it Okay to negotiate your salary at the time of the interview?Is it possible to negotiate your salary in these times of recession? Are the corporates just trying to fleece the young blood in accepting something which he feels is not really up to his caliber?Or what would be its impact on the workforce as a whole(Somebody with the same potential would be getting more than what the average Joe would in the present circumstances)?How should you go about it?
Come on ....the stage is set for you .........convince the crowd with your rationality!Its all about the money ,Honey!
 

savio13

MP Guru
Friends,
How do you feel about the art of salary negotiation?Is it Okay to negotiate your salary at the time of the interview?Is it possible to negotiate your salary in these times of recession? Are the corporates just trying to fleece the young blood in accepting something which he feels is not really up to his caliber?Or what would be its impact on the workforce as a whole(Somebody with the same potential would be getting more than what the average Joe would in the present circumstances)?How should you go about it?
Come on ....the stage is set for you .........convince the crowd with your rationality!Its all about the money ,Honey!

The companies shouldn't exploit the candidates by paying less... They should give according to their potential or they should provide amenitities so that the candidates will be able to work in a better environment....

Proper sanitation and environment should be the top priority of any company.
 

sarathmariner

New member
during the recession, a fresher is in no position to negotiate much about his salary if he's not backed by a good record.

and in case he has a good record, there's no stopping.

the best are always in demand.
 

rouger

Par 100 posts (V.I.P)
Every college graduate is excited on first job. Most of them try to get their hands on their preferred careers as they create resumes and cover letter for different companies in the same industry.
As soon as they see an opportunity, fresh graduates will grab it immediately. This is understandable for fresh graduates since they do not have the experience to show their actual experience. Almost anything that could come their way to ensure employment will be entertained.



But this often comes at a big price: most college graduates prefer to get a job fast no matter what the salary would be. The idea of having a job is quite overwhelming that the pay is not a primary consideration. During these times of recession, no one (especially fresh graduates) can just select a company since fewer and fewer companies are opting to hire more people to their workforce.



Negotiating is Okay
Fresh graduates consider the initial salary offer and accept it. Their frame of thinking suggests that since they do not really have anything to back-up their expertise except their education, they will not be able to demand too much from their employer.



But you have to remember that salary negotiation is not about getting away with a higher salary. Salary negotiation is all about getting your actual worth. Getting paid below your skills is just unfair. More often than not, companies do acknowledge this and will make some adjustments based on your requests.
 

AnandRathore

New member
Companies are just using the recession as a bluff for cutting salary, where a particular amount of salary should be paid whether there is recession or nt,.
Note that Indian economy had grown 6 % in recession
 

priyankappd

Par 100 posts (V.I.P)
5 Effective tips to negotiate better


* Avoid negotiating based on your salary needs: With a variety of salary information resources, such as professional associations and salary websites easily accessible, you must invest the time to determine your ‘market value’. Learn to differentiate between financial fact and fantasy. Do not under any circumstance; try to negotiate a higher salary simply because you need it due to personal circumstances. They will reward you according to the prevailing market rates plus a premium (if any) based on your ability to demonstrate special skills that will generate incremental value for their organization.


Source :- Shine.com
* Avoid revealing your minimum salary requirement too early: Remember - information is power, and the earlier you provide this information, the less room you’ll have for negotiating later. Even if the employer asks for a salary history or salary requirement early in the interview process, remain as noncommittal as possible. Only begin this discussion once you get the job offer, and are in a bargaining position.



* Never negotiate with the wrong mindset: Always keep in mind that at the end of the day, you and your employer both want to feel like you’ve got a good deal. Hence, when negotiating, always remain professional and never act too aggressively or be demanding. Make requests and suggestions, and be willing to accede to certain points to show your cooperativeness. Finally, once an agreement has been reached, recognize that the negotiations are over and you must not be tempted to ask for anything more.



* Avert demanding too many changes to the offer: If you are keen on the job but unhappy with the offer, pick your battles and identify one or two most important elements that you wish to change. Go specific and deep! For example, ask for 15% higher base salary and 5 more vacation days, and develop focused, compelling arguments for that. This is infinitely better than trying to change the salary, insurance coverage, relocation package, housing and car allowance as they just make you look greedy and less credible.



* Finally, don’t burn any bridges: If for any reason, the negotiations break down and neither you nor your potential employer is willing to budge, do not be rude or sarcastic and create any ugly scene. Instead, thank them graciously and walk away with your head held high- you never know when you may benefit from this association in the future


:SugarwareZ-283:
 

priyankappd

Par 100 posts (V.I.P)
Tips for negotiating salary during recession


* Know your real worth: Invest time in researching about salaries earned by people from a similar background in your industry and the company you are going to join. You may use the Shine Salary tool for the same. Research will help you understand the salary trends that your industry is witnessing after recession and calculate your real worth. This will give you an idea about what salary you can ask for and expect to get.



* Work on your timing: Ensure that your timing is perfect. Do not start negotiating as soon as you get the offer. Take some time from the recruiter to analyse the offer. This not only gives you time to think about the offer but also gives an impression that the amount you quote is well thought about. Starting your negotiation as soon as you get the offer makes you look impulsive. Also, ensure that the hiring managers are in a good mood when you start and try and take up different components of the salary package separately.



* Analyse the complete package: Instead of just focusing on the in-hand salary or gross salary, look at the complete package objectively. There may be many other benefits that may make up for a lesser in-hand salary than you expected. These benefits include health benefits, tax benefits, flexible work timings etc. In fact, it is quite possible that the company may not be ready to pay too much cash in these troubled times. If the company is not ready to budge after a certain point, you can try negotiating on the benefits to get a better overall package.



* Know the limits: Your research would have given you your real worth. Try to negotiate around the same figure. You can try giving a range and then asking the recruiters to decide. But, ensure that you stay within your limits. If the expectations are too high, the company may just decide not to hire you. Similarly, also understand that companies are in a cost cutting mode and paying too much will be out of the question for them. Do not act difficult. Be firm but know the limits.



* Chart out a win-win situation for both the company and yourself: Remember that salary negotiation is not a competition between you and the hiring manager. It is a discussion to reach a salary package that works for both the parties. So, when negotiating, always keep the company perspective in mind. Start at a higher point, but know how low you will stop. Ensure that you get your worth and it does not look outrageous to the company either.


:SugarwareZ-272:

Source :- Shine.com
 

priyankappd

Par 100 posts (V.I.P)
Increase your negotiation power


* Specialise: What is it that makes you more valuable than your counterparts? Well, the answer is specialisation, and your salary to a large extent depends on your specialisation. So, specialise in your field of work. Try to be in line with the new developments in your work area and learn new skills. Present yourself as the one-stop answer to all the company’s problems.

* Innovate: Ensure that when you answer the interview questions, you add a hint of innovation to them. Research about the company and come up with ideas that you think can help the company grow. Talk about the cost cutting strategies that you can help develop and implement.

* Acquire new skills: Companies always look for people who can contribute that extra bit to the success of the organisation. Look at the ways you can use your extra skills for the benefit of the company. During the interview, apart from the knowledge that you need for the job, also talk about those special skills that you can bring to the table.

* Research: Spend some time researching about the salaries earned by other people in your profession. Also try and get information about the salary structure and policies of the company you are going to join and the kind of salaries it offers to its employees. This will help you in negotiating for a better compensation package that works well both for you and the company.

* Understand the negotiation process: Try to understand the negotiation process the company follows. Do not reveal your current salary or salary expectations till the time you have been short listed and the company is keen on hiring you. Instead of just sticking to numbers, try to work out a better perks and benefits package. Understand the company’s paying capabilities and make a plan to leverage the knowledge for your benefit.



Remember that what you earn depends a lot on the way you present and market yourself. The companies will always offer you a low salary than what you are worth keeping a bracket for negotiation. So, establish yourself as a valuable employee and convince them that you are worth the bigger money.

:SugarwareZ-140:


Source :- Shine.com
 
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