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How to Negotiate the salary well in interview

How to Negotiate the Salary Well in Interview

At some point in the interview, you are going to be presented with the question about your salary expectations. Generally, they present you with a package that includes a proposed salary. However, if you feel that the pay does not align with your education, career level, skills or the experience that you have, you may choose to negotiate the salary range. You may also suggest another form of compensation, such as equity or stock options.

As an interviewee, it is common to feel a little anxious about naming your desired compensation. The salary question may seem like a make or break kind of statement. You may have mixed thoughts like “What if I say too little and the hiring manager pushes me off the candidate list”, or “What if I ask for too little and end up making way less than what I deserve”.

To gain more insights into how to tackle this question in a smart way, we have curated a few tips for you to answer this question. If you follow these tips, you will be able to negotiate your salary well and end up getting paid an amount that matches all your check boxes. Keep reading to know these tricks and ace that interview.

How to Negotiate Salary

Here are some tips to consider as you prepare for a possible salary negotiation.

Start by Calculating your Value

Before you begin the process of negotiating your salary with the hiring manager, you must know the value you bring into the business. Several factors can influence your compensation, such as:

  • Geographic Location
  • Years of industry experience
  • Education  Level
  • Skills
  • Certifications
  • Years of leadership experience

When you begin your salary negotiation, be sure to shed light on why you will be valuable employee and consider using the above factors to justify your desired salary.

Do your Research

Having a clear knowledge of the market average offered for the same Job Position as you have applied for leads to a more successful negotiation. It can provide you with a good baseline for your salary request and can even be used as a justification. It is usually advised to quote a range that is comparable with your experience and potential. Refrain for  asking too much as it may present you are if orant and arrogant.

Your starting salary is the anchor for your future salaries, your raises and bonuses are influenced by this amount. Starting too low could cost you a lot of the length over your career.

Prepare your Talking Points

If you want to get paid an amount that matches your skills and achievements, make sure to highlight them in the first place. Be sure to put forward pointers that may serve as proof pf work to the employer. You may talk about the results you have achieved in previous roles or the awards you have earned. Be as specific as possible and use numbers in order to showcase your results. Highlight your industry experience and the skills and certifications you hold that make you the perfect fir for the job.

Remember to focus on the value you will bring to the company given your experience and skills, rather than focusing only on yourself.

Be Confident

Delivering your negotiation with confidence is as important as the words you say. The more confidence you convey, the more confident the employer will be in their consideration of your feedback. Remember you are bringing an important set of skills and experience in the organisation and the pay you are being offered should account for the value you provide.

If you feel like the employers initial offer is less than what you deserve and the market baseline, be confident in asking for a better quotation.

Be Flexible

There may be a possibility that the interviewer is unable to provide the salary amount you ask for, but are willing to offer the same via other forms of compensation. For example, you may be able to negotiate more stock options or additional work from home days or any other compensation you want. Do not shy away from asking for alternatives. In some case, they may just be as valuable, or even more valuable in some cases that the actual paycheque.

How to Negotiate Salary in a Face to Face Interview

Here is how you should approach the salary question when it comes up in the interview.

“Thank You so much for elaborating the offer package for the Sales Manager position. Needless to say, I am excited about the opportunity and would like to reiterate how grateful I am that you have considered me for this role. I believe in the business you are engaged in and know that I can help you drive greater results. However, before I accept this offer, I would like to discuss the proposed salary. As I mentioned before, I have more than 5 years of experience in sales along with two added years of management experience. This is more than what was stated in the job description. In my last role, me and my team showed visible results with our work. Given my experience and expertise, I am seeking an annual salary of INR 10,00,000 TO 12,00,000. However, I am open to discussing alternative compensation such as performance based bonuses or stock options.”

Salary negotiations are an important step in the hiring process. By taking the time to talk through why you feel you need more compensation, you can help employers better understand the values you provide. By using the above tips, you can walk into the conversation confident, prepared and ready to secure the pay you deserve.

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