Right, so you love the job being offered, you love the atmosphere and you are totally excited about this new beginning. However, there is a small hiccup- the money being offered is nowhere near your expectation. You don’t need to agree to any number thrown at you by the recruiter. You don’t need to reject the offer straight away and look for other better paying opportunities.
In most cases, salary negotiations are actually possible. Before you decide to dump the offer and look someplace else, here are 5 tips for salary negotiations that may actually help:
Never be the first one to talk about money
When you bring up money matters before the recruiter does, you immediately go on the back foot. By asking about money matters, you are projecting yourself as somebody who is just interested in the moolah. That is never a good strategy. Start by showing enthusiasm for the job being offered, ask questions about the company and your responsibilities and be interested all the time. Let the employer bring the money question first. It always puts you in a better position.
Give them numbers
When an employer is hiring you, he is interested to know what you can bring to the company. Candidates who quantify their value addition to a company are always able to negotiate their salary better. Instead of saying you can improve their performance and their bottom line, give them examples in numbers from your past work experience. For example, if you have worked in the HR department before, start by telling them how your initiatives helped bring the attrition rate down by so and so percentage. Numbers always speak louder than words.
Look for alternatives to cash
Sometimes, especially in a recession hit economy, companies are not in a position to talk an all-cash deal. You could always look for alternatives to cash to meet your salary expectations. Propose performance driven incentives or negotiate the benefits that are being offered. If you are really good, you could also propose a profit sharing agreement. In fact, profit sharing agreements are preferred by several companies, especially start-ups. They give you stock options in lieu of cash which you can sell at a later date.
Try not to be rigid
When you are negotiating salary, never adopt a “my way of the highway approach.” Be ready to listen and come to a mutual agreement. Always explore different options and listen to the employer with a cam and an open mind. Adopting a rigid mindset never worked for anybody, ever.
Negotiate on the hours
Sometimes, employer may be ready to pay you extra for a few hours of work every week. Or, the employer could be willing to offer you the expected remuneration if you agree to work from home. Negotiating on the hours is an alternative worth exploring when it comes to salary negotiations. Do not miss out on playing this card at the negotiating table.