Salary Negotiations
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Throughout the job search process there are many decisions one has to face. In my opinion, the most important thing is the salary negotiation. Many candidates believe that they should accept the first compensation package offered by the employer, because if they try to negotiate the compensation package then there are ten other interviewees standing outside who the employer could give the job to. The best advice that can be given to someone, as rightly pointed out in the article “Women dont ask” by Linda Babcock, is that if you think you have the right educational qualification and experience and if you feel you are the right candidate for the job and deserve a salary package better than the one that is being offered you should “Ask For It”. Being shy and afraid to negotiate for salary can cost the interviewee a better salary and it doesnt stop here, every time a raise is offered it is based on the salary package that the person originally was offered.
Another very important aspect that needs to be focused on is concentrating on key issues while negotiating the salary, which is explained in the article “Personnel World” by Nunan and Hutton. You dont have to focus on minor issues like luxury cars or the kind of room that you will be staying in while on a business trip. Instead, focus on key issues such as bonus, medical health insurance, and the equity percentage which will be more beneficial in the long term. Once you can bag the big perks the small perks will follow.
Understanding the culture of the company before you start the salary negotiations is very important and can give a huge negotiating advantage. It is important to understand the functioning of the company and how you can benefit the company from the position being offered. Ask the interviewer what he expects from you and then answer by justifying and giving an explanation as to how you are the best fit for the position. If you think that this is exactly what you want to do in your career and you are right fit for this position you can negotiate the salary without any hesitation. But if you think that you might not be fit for the role and somehow get the job, the future advancements in career will be very slow and will only lead to monetary and mental dissatisfaction.
Timely talk is another very important aspect one should understand before starting the negotiations. As often as possible a candidate should never start the salary negotiation, its a death trap. It should always be initiated by the interviewer. This will help in further reading the mind of the interviewer and understanding as to what he can offer and what is the scope for asking for more. This style is better than randomly throwing out number at the interviewer. Also, if asked for salary expectations the candidate should always provide a range and not exact numbers. This increases flexibility and also an understanding between the interviewer