As the job search progresses, one of the top questions is “What salary should I ask for?” So, let’s talk salary!
When a candidate meets a company and falls in love with their dream job, they have to have some awkward conversations before they commit to each other. Salary is one of those conversations.
But talking about salary isn’t awkward!
The important thing is to prepare. You need to do your homework and understand what is fair. The last thing you want to do is distance yourself from a job because you didn’t realize you asked too much. Or worse, sell yourself short because you didn’t ask enough. It’s business time…so, let’s get down to business.
Here are some things you should know before you talk about salary:
Important aspects of salary negotiations
1. Always be prepared
You never know when an employer will bring up the question of salary—it could be this Job application Or maybe it was during your last job interview. That’s why they want to prepare for it. Know your numbers before you apply for a position so you don’t get caught off guard.
2. Don’t bring it up first
A common mistake people make in the hiring process is bringing up the salary too soon. It can hurt Chances are you will get a job offer Because the employer might think you are only in it for the money. Wait for the owner to bring it, then go from there.
3. Know what the competition is
Do your homework. Find out what the competition is for that role in that industry. You can use websites like Glass door, PayscaleAnd Salary.com To research competitive pay rates for similar positions.
4. Know your “walk-away” rate
After you’ve done your research, you’ll have an idea of both the highest and lowest salaries for similar roles in your field. This is an important thing to know because it allows you to work during negotiations (ie, it gives you some wiggle room). When you’re thinking about your range, it’s important to know your “walk-away” rate. This is the lowest offer you can accept without eating ramen noodles for the rest of your life. You don’t want to take an offer that doesn’t pay you enough to live comfortably. Otherwise, you’ll be back on the job hunt for a role that pays you more. However, you’ll want to understand the going pay rates for the position, so you don’t a) distance yourself from the job or b) sell yourself short.
Salary is another important factor to consider during negotiations
5. Don’t limit yourself to money
Even if you aim to earn a competitive salary, don’t just focus on the money. You can also negotiate for work-from-home opportunities, flexible hours, vacation days, and more. Other incentives. It depends on what is most important to you. Again, this gives you some wiggle room during negotiations.
6. Give them a reason to give you more
To get the salary you want, you need to prove that you will be a valuable asset to the company and that your unique skills/experiences make you the best fit for the role. You have to show them that you are worth the investment.
What to do when salary negotiations get tough
7. Don’t be afraid to say ‘no’
During salary negotiations, it’s okay to say “no” to a job offer if it doesn’t match what you think is appropriate based on your research and needs. Remember, saying “no” opens up negotiations. Also, if the employer says “no” to your counter offer, it doesn’t mean he or she doesn’t want to work with you, something that works for both parties (that’s why they call it negotiation!). That’s why you do a lot of prep work in the beginning. If you know your numbers, have a “walk-away” rate and Demonstrate your value For the employer, you have the opportunity to negotiate an offer that works for you. If not, this may not be the right opportunity for you at this time. Your dream job is still there, you just haven’t found it yet.
Yes, salary negotiations can be stressful. However, this is a big part of the hiring process. If you choose to abandon the negotiation process because you’re scared, you risk selling yourself short. Don’t do that to yourself! If you feel nervous, practice your negotiation skills with a friend or a Career coach. The more you practice, the more comfortable you will become.
see? You can dance this whole salary! And it doesn’t have to be awkward. As long as you apply these tips, you won’t have to worry about salary negotiations, and you’ll be able to easily answer the question, “What salary should I ask for?”
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This article was originally published on an earlier date.
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