So you've cleared all your interviews. And now your potential employer has called you in to discuss your salary expectations. This is great news. But before you leave, you must realize that negotiating your salary is an overwhelming task. This is a time where you cannot sound too greedy. But on the flip side, you also have to ensure that you get the salary you deserve.
In certain circumstances, what happens is that candidates when they're about to join a new organization, in their excitement, they forget to pay attention on the salary negotiation part. And this is a mistake that if you make, it will definitely come back to haunt you one day, even if I talk about myself, I once made this mistake, and after a certain period of time, I got demoralized and started looking for other opportunities in the market. Why this is very important at this stage is because if when you join an organization, the next possible salary increase will be after at least one year. So you have to negotiate a salary, which you feel is enough for you to stay motivated and engaged for this period of time. In this lecture, I will share with you certain points that if you follow, I am hopeful that you will be able to negotiate a salary which is aligned with your expectations.
The first thing that you have to realize is before you start your salary negotiation, you must have a figure in mind. So, if you have done your research properly, you should be able to tell what is the prevailing salary average in that particular job field or that specific grade in that organization. Once you have this information, you should account for your academic background and your work experience if you have any, and try to find mutual grounds based on which you can join the organization. The second point that you should understand is that if your interview process has went well, he should always be patient and wait for your employers to bring up this topic, the topic of your salary negotiation. I say this because this is a topic that will be discussed eventually. And you should always wait for others to start it.
My tactic as far as negotiating a salary for myself is concerned has always been that I used to wait for the employer to share range Because I used to ask them that if they can share a range with me so that I can share my expectations accordingly. And in such cases, what happens is that they will share a range, and you can align whatever expectations that you have so that it does not become a deal breaker. Keep in mind, you have not yet been offered a formal offer letter. So they're still trying to assess you. So make sure that you share a range which is realistic, and also aligned with the internal equity of that organization. My next suggestion would be when you're negotiating your salary is that instead of sharing one specific figure, you should always share the range.
Why I say this is because if you share a range, it basically portrays a message to the employer that you are interested in joining the organization, despite whatever salary that is being offered. Having said that, it also tells them that there are certain limits in which you will operate in and they should try to find mutual grounds in order to make everyone happy. Then once you have shared your expectations, you must follow up with a powerful justification of why you are expecting such a salary. If you feel that you are slightly overqualified with regards to the role that you have applied for trying to negotiate in a way that you can somehow or another, get a nominal increase with regards to maybe the relevance of your academic background or your work experience, if you have any, Remember my words, when you join an organization, and if you know that your salary is slightly above the prevailing average in that job grid, it will serve as a huge morale booster for you for the next couple of years.
After this, you must inquire about all the possible employee benefits that you will be getting. I would like to inform you over here that in certain good organizations, Employee Benefits account for at least 50% of your annual salary. So you should inquire about them and account for employee benefits. For example, your provident fund, your gravity, number of days that you have to work, the number of days you get off in a year, then moving on to your medical benefits. And then finally, other non cash benefits that that organization may offer. These benefits carry a lot of importance because you will eventually get used to your salary, but benefits will always be there to keep You motivated throughout your tenure with that organization.
In the end, I would like to tell you that you have to ensure one thing, and that is that you cannot show the employers that you are a greedy person. Keep in mind that you have not yet been offered a position and they are still in the process of evaluating you. So yes, try to stand your ground and justify everything that you're asking for. But at the same time, try to be flexible as well. I say this, because you have already done all the hard work, and this should not be a showstopper for you. Even if you feel that they are being unfair, try to explain to them the value and the overall energy that you will be bringing in that organization and you never know they might end up giving you a salary raise once you are done with your probationary period.
Having said that, you must account for this fact that when HR is negotiating your salary, they have to keep in mind the overall internal equity of that organization. And they cannot at any cost make you happy at the expense of other employees. So remain flexible and try to find mutual grounds so that you can move forward and join organization and once you have joined perform in a way that they themselves realize that you are someone extraordinary and you are worth more than the salary that they initially offered.