DO negotiate the best possible pay, and DON’T Hesitate TO DO YOUR Homework. Here’s how to do it:
Despite popular wisdom to always negotiate your wage, according to a HR poll, the majority of employees do not negotiate for higher pay when they are offered a job.
The thing is, managers are always likely to consider a counteroffer: Some employers claim they’re willing to compromise compensation on initial employment deals for entry-level jobs, and they usually recommend a smaller wage than they’re willing to pay to leave space for negotiation. We’ve outlined a few dos and don’ts for effectively negotiating your pay below:
DO examine your demeanour at the entrance.
Check in on your mood when you enter a wage agreement before you do something else, There’s nothing wrong with displaying a little passion. Behave and talk as though you think the wage agreement would be a fun, fruitful experience and it just could be.
Do not fail to Research
You can also look at pay levels for the job. “You should be prepared to know what the average starting wage is for that job, in that specific area, and for someone in that particular industry.” “You should be prepared to know what the average starting wage is for that job, in that place, and for someone with your level of experience.
Some helpful online resources to determine salary ranges include:
Do think about the take-home salary.
There’s nothing wrong with suggesting to the recruiting manager that your take-home salary, after taxes, insurance, and so forth, “won’t necessarily cover the median cost-of-living needs of my metropolitan area.
Do not believe you have to provide an exact figure
It is often best to begin by listing your salary request in the form of a range. This way, you don’t price yourself too low or too high, and you still demonstrate that there is space for negotiation.”
Do enquire about incentives.
Salary is just one component of the overall pay plan, so don’t get all wrapped up in the numbers. “Don’t overlook incentives and other contingent incentive plans, such as salaries and sign-on bonuses.
When making an educated decision, the ‘total wage’ figure (base income, insurance, and other contingent pay) is critical.”
To that end, keep in mind that compensation can still be negotiated, particularly if your pay doesn’t have much wiggle room. “Assume that everything you care about is at least debatable. If you are unable to get anything you want right now, request a review in three to six months.”
Do not consider the bid immediately
“You are not expected to consider, refuse, or counter a work offer on the spot,” says Dudley. “It is entirely appropriate to thank the recruiting manager, and then let her know you would like more time to consider the bid before responding with your approval or bargaining demands. Only make sure you answer quickly or you can miss the offer.”