The discussion among individuals to find out an alternative best suited to all is termed as negotiation. Itâ€™s always better to sit and discuss things face to face and reach to a conclusion satisfying all, rather than fighting and cribbing. One needs negotiation everywhere. Negotiation is the most required when it comes to deciding the salary of an individual. How will you feel if you are underpaid? An individual if is not paid as per his calibre will never find his work interesting and there is no way he can be motivated. Monetary factor is one of the most important factors to decide the performance of an individual at the work place.
Salaries must be justified to extract the best out of the employees and for them to develop interest in work and strive hard to achieve the goals of the organization. If they themselves are not well paid, they would not bother to generate revenues for the organization.
Let us go through some important tips an individual should keep in mind during salary negotiation:
Always remember that the organization also needs you as much as you need the job. There is always a dearth of talented people. The organizations are also in search of best talents and if you have the calibre and skills, you will definitely be paid a handsome salary. If you have reached the salary negotiation round, which in all probable cases is the last round, the company officials must have seen a spark in you. No need to panic or get nervous. Just be yourself and relax. Take care of your posture as well. Sit straight and make an eye contact with the person sitting on the other side of the table. Look confident and smart.
Go well prepared before the salary negotiation round. If possible try to find out the current market trend and also the salary structure of the organization you have applied for. Find out how much salary the organization offers to its employees at the level you have applied for. One gets a salary hike on his current salary. Be honest about your current salary. Donâ€™t lie or fake things as it might land you in trouble later. There are some organizations that do go for salary verification and you might be caught. You will get what you deserve, nothing more, and nothing less
Be very clear in your mind about your salary expectations. Ask yourself do you deserve this salary? If yes go for it. Be firm and do not change figures frequently. It sounds fishy. One should know how to justify his salary. If you are quoting any figure, make sure you have valid reasons to support that. Be very specific as to why the organization should pay you that much? Donâ€™t assume that you will just cook stories and the HR would trust you. Be specific and clear in your communication. Donâ€™t try to confuse the other person.
Quote a realistic figure. Donâ€™t ask for anything which is unrealistic or exceptionally too high. Salaries are decided on your current salary, your educational qualifications, your level in the team hierarchy and organizationâ€™s budget. Do keep in mind all these factors before asking for a salary.
Be very polite. Donâ€™t start fighting with others. After all money is not the only deciding factor. Oneâ€™s designation, the brand value of the organization, the roles and responsibilities are also important. Donâ€™t just run after money.
When the other person asks for your salary expectations, quote a figure higher than what you expect. It is a thumb rule that whatever you ask, the organization would definitely offer you less. Discuss with him and make him understand why you have asked for a particular figure. Try to convince him why you need the hike? Give him sensible and valid reasons.
Never show your desperation to anyone. Donâ€™t make it obvious that you need the job at any cost. Remember the organization is not doing any favour to you. They will make you work also once you join the firm. Donâ€™t beg for your salary. Itâ€™s your right.
If you find the salary offered by the organization is not meeting your expectations, its better to quit on a positive note rather than arguing and fighting. One should never spoil his relations with anyone. You might need them later. If you are not happy, walk away gracefully. If you are comfortable with the salary, do accept it, sign an acceptance letter and confirm your joining date and gear up to give your level best to the organization and stand apart from the crowd.