In the workplace today, salary negotiation is often considered an art. It is something that is not just done mindlessly, there has to be careful thinking and planning that takes place before you can ask your employer for a pay raise. It also comes in handy during job interviews, when your future employer will talk about the offer they can provide. But if you learn about the effective strategies, then you can easily get the pay that you’ve always wanted.
If you are being interviewed for a job, after the first few interviews you will already be asked about the package. This is an important opportunity that allows you to be assertive about what you want, so you don’t feel that you got the short end of the stick. It’s important to speak up but think well about what you say.
Before you accept anything and if your employer hasn’t brought it up, it’s your duty to discuss what compensation package is going to be provided. They will mention benefits and a salary, which you may not be very happy about. If this is the case, make the move on salary negotiation and tell them you will sleep on it first and get back to them a few days after. Then, you can send them an email confirming that you would like to increase the package offered, and let them know what you think.
Remember to never wait too long to accept an offer or write the company back. There will always be someone else who can take the job for a lesser pay, and the competition can be tight. A day or two is ample time to show them you have thought about the offer and you are ready to accept or decline it.
Your employer can also make up for the smaller salary at first by offering more benefits and compensation. This can be in the form of more vacation leaves as an incentive, rather than using cash. Some employees will also tell you that they will do a salary review after a few months, so holding them accountable to that will also give you time to prove your worth before they increase your pay.
Salary negotiation also involves assessment of your work. No company will pay an employee an outright high pay if they haven’t proved themselves first, so if you really like the job and the company, remember that you can always go back to them later on with facts that you have contributed to their profits and deserve better pay, or compensation.