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Salary Negotiations - Insider Help With
Job interviews are not easy and we don't know many people who actually enjoy attending them.
Aside from trying your best to impress the interviewer you are also concerned about being able to answer the job interview questions asked, without having a mental block.
The same applies to the part of the job interview where you're asked if you have any questions of your own. And the question we fear most is often the one about salary.
To help you, here's some advice on salary negotiations from actual interviewers:
How To Deal With Salary Negotiations
- Firstly, be prepared for salary negotiations. Do some research to find out how much a person with your qualifications is earning and this will help establish a salary range you feel confident talking about when the subject arises in your job interview.
- Know your budget. Make a note of the outgoings you have to meet each month and allow an amount for anything out of the ordinary which may need paying. This will give you a guide to the absolute minimum salary you can agree to.
- In order to sell yourself, be prepared to discuss your skills and achievements to date. Do your best to make the interviewer aware of the reasons why you are worth the salary you are negotiating.
- Try to avoid salary negotiations at the start of the job interview. You need to convince the interviewer that you are the right person for the job and that the company needs you as an employee. If, however, the interviewer persists, you could say you would like to know a little more about what the job entails before talking about your salary.
- When the question of desired salary does come up, try to put the question back to the interviewer by asking what salary the company would expect to pay someone with your qualifications and experience. If this fails, suggest a salary range you are comfortable with according to the homework you carried out before the job interview.
- Don't be the one to initiate salary negotiations unless you really have to. If the salary determines whether you take the job or not, you may have no choice, but leave it until the end of the interview. Be subtle. Something like this is good:
"Thanks for taking the time to see me and telling me more about the role. It sounds ideal and I'm very interested. Are you just able to tell me what salary I might expect if I were offered the job?"
- During salary negotiations, try to keep your past or current salary to yourself, at least at the start. You will lose your bargaining power if you reveal these details too early on. This way, you effectively force the hand of the employer into making a salary offer.
- If, at first, the salary turns out to be lower than you would have wished for, make sure you take into account any additional benefits offered such as insurance, stocks and shares in the company, and staff discounts, to mention just a few. These benefits can add up to another 40% of your basic salary.
- So, the salary offer is there in front of you on the table. At this point, ask for twenty four hours to think things over. This is good practice for at least two reasons:
- If the offer you have received is considerably higher than you expected, the twenty four hours will give you time to calm down and accept the salary showing a degree of decorum.
- On the other hand if the offer is less than you would be prepared to accept, the thinking period will make the interviewer aware that if a better salary is not offered they may lose you altogether.
- When an agreement on salary has been reached, ask for the offer to be put to you in writing outlining the salary and additional benefits applicable.
- If the offer is simply too low for you to possibly consider, be polite when you reject it. You never know, you may do business with this company at some time in the future and you do not want to have created a bad impression.
We hope this article has made you feel a little more confident about the art of salary negotiations and helped get rid of any anxiousness about the most feared job interview question of all.
And if you would like the answers to another 54 common job interview questions, download our 55-page Complete Guide To Great Job Interviews.
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