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The interview
was good and now
its salary
negotiation
time. The
employer asks
you an
open-ended
question about
the salary you
are expecting.
You know that
your answer
could affect
your chances of
getting further
because if you
quote a figure
that is too high
then he might
mentally strike
you off the list
and if you quote
too low you will
be short selling
yourself. It is
an important
part of the
entire process
because it puts
a value on your
capabilities.
You ought to
know the value
you bring. This
is one question
that you cannot
be caught drivel
about so its
better you get
some information
and fix your
true value. And
the market price
for that job as
well.
First and
foremost find
your true value.
The base value
comes out of
your
qualifications
and experience
and the previous
value affixed to
it. If you are
going to stay in
the same line of
business, i.e.
if you have
developed some
core
competencies in
your area, you
would certainly
be looking to
get more than
what you were
previously
offered and a
higher
responsibility.
Additionally if
you have
accumulated some
more
qualifications
along the way it
will certainly
add to your
price tag. The
place of
posting, size
and type or
organization,
growth prospects
etc will
certainly matter
while you
consider your
value. Apart
from merely
making a
self-assessment
it also helps to
go through a
recruiter or
hiring agencies
because they are
more aware of
the market price
that
organizations
are willing to
pay. Apart from
making a purely
objective and
business
oriented
decision they
will give you a
fair
approximation of
your market
value.
Secondly, gather
information
about what the
market is paying
for the job you
applied for.
Look up sites on
the Internet,
check out the
recruiting
agencies, speak
to fellow
professionals,
refer to
industry
journals and get
an approximation
of what the job
is likely to
pay. There are
some fee based
services as well
that give you
this kind of
information. Now
you know what
the job pays and
what you think
you are worth.
Zero down to a
figure in the
range depending
on your
experience and
qualifications.
Never ever let
it be known that
you are
desperate for
the job because
that will
drastically
shift the power
in the
employer's favor
during the
negotiations.
Here all the
research you
have done will
come in handy.
Know all about
the packages
being offered in
terms of
allowances and
such so you are
not caught on
unsure ground.
While
negotiating the
salary, it is
best not to
venture out
information
first. Ask the
employer the
range they pay
for this
position and
what a fair and
just
compensation
would be
according to
them. If they
give some
figure, you can
always improve
on it. Start on
the higher end
of the scale
because they
will negotiate
as well. It is
best to quote a
range to begin
with so everyone
can feel around
for the kind of
figure that is
mutually
acceptable. If
you have done
your homework
you can convince
the employer why
you think you
deserve the kind
of compensation
you have quoted.
Normally if the
employer feels
that you fit the
job, they will
go some distance
to get you. It
is up to you to
convince your
employer that
you are worth
it.
It is always
best to leave
the negotiations
open ended in
the end. You
could say that
you are open to
their offer and
that you will
expect a fair
and just
compensation
package from
them. Take your
time to think
about the
package and use
your good
judgment in
terms of career
move, growth
prospects etc
while
considering
their offer.
Good luck!
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