tips for negotiating salary

The Best Four Tips for Salary Negotiation

Introduction

Whether during a Job interview or when in actual employment already, being able to effectively negotiate one’s salary is fundamental. In Job interviews, many interviewees may have some difficulties in negotiating with the interviewer or employer when the salary question is being asked. For employees alike also, some even still find themselves puzzled when the salary issue is being discussed with their HR head or boss. However, there are some basic tips that when applied in a job interview or any other salary-related discussion, success is bound to occur.

These are the best four tips when negotiating for salary;

 

1. Do your research and base your salary request on data

Knowledge is power and data brings knowledge. Before going for an interview or having any salary related discussion, it’s proper you research on how much the job role gives or what is obtainable in the company at large. For example, if you are to interview with a telecommunication firm for the role of a specialist, there are basically three ways in which you can ascertain how much the role offers in that company.

  • Ask previous or current employees in that role of the company
    (This way you are able to ascertain the exact amount the company, say MTN offers the position holders and thus you will be able to negotiate with the exact salary data in mind.
  • Ask previous or current employees in that role of other companies in the same industry, say Airtel, Glo or 9Mobile
    (In cases where you do not have a connection who works or have worked in the particular firm before, getting the data of what the other competitors pay may just be very close to the truth. Thus you are negotiating with the industrial average salary in mind.
  • Use the MySalaryScale free salary survey to find out what others in the job role or company.
    (Here you simply get to access various data entered in by previous or current employees in the company you intend to work. Thus you are able to negotiate with given salary data in mind.

 

2. Make the First Offer

Conventional advice and tips would tell you to never be the first to mention a salary target, in case they were planning to offer you more than your wildest dreams. Truthfully, however, the opposite may just be the case. Let’s be realistic, they may likely throw a lower amount out to see if you will take it, and once that small figure is on the table, it may become uncomfortable to go after anything substantially larger. So you don’t have to wait for the interviewer or employer to mention a figure first. Therefore, it is advised you make the offer first – particularly based on the data you have gathered.

 

3. Show How You can Contribute to the Bottom Line

Whether as a job seeker in an interview or a current employee with a new offer, one of the major tips that will make the salary discussion fall in your favour is if you are able to show the interviewer or your boss how you can increase the firm’s profit. The ability to do this in the most industrious way is what makes the salary discussion to go smoothly and ultimately favour you more. The interviewer is thus convinced of the fact that what he is paying is commensurate with what is being given. With this you can likely get the offer you made.

 

4. Think beyond Naira and Kobo

Usually, most individuals focus on the actual figure, say #50,000 monthly or #300,000 monthly. However, effective salary negotiations should go beyond the actual figure. For example, a job offer with #200,000 base salary is obviously seen as worth more than one with #150,000. However, if you take time to take into consideration other fringe benefits, the latter may just be higher than the former. Take into consideration bonuses offered, vacation and other leave, length of time before salary increment and a host of other factors. So when this is put in mind before negotiation, you are bent to arrive at the best decision.

 

Conclusion

You don’t want to waste your valuable time on a company that is never going to pay you what you are worth. This means you need to understand how employers decide their salary levels and adjust your job search accordingly. If it’s a job interview, research about the company’s salary structure first before the interview. If for employees already in the organization, by now you should know your kind of employer and know if it’s even worth staying there in the first place.

Have you successfully negotiated your salary? We want to hear from you! Comment below

See also 5 Ways to Earn More Money in Your Current Job

Post Author: My SalaryScale

Leave a Reply

Your email address will not be published. Required fields are marked *