Simple tricks to WIN at Salary Negotiations

The Arts to WIN a Salary Negotiations

In terms of Bangladesh, when you are facing an interview and at salary negotiations part, if the employer thinks that you are an expensive asset for this position, there is a huge chance to get rejected, even though you are the best candidate. Now you can ask what a company actually wants?

A company benefits the most from getting the top candidate for the least amount of money possible.

It’s not that they don’t think you’re worth more. It’s just companies, usually, are planned to generate more money. And there are two ways to achieve that goal — sell more or spend less.

You and the recruiter all on the same side, working to the same goals, except when it comes to salaries. And then your company, becomes your opposition.

You are a cost.

It’s not about feelings or emotions. It’s not about loyalty or relationships.

No matter how amazing you are, you are replaceable.

Even the greatest companies, with the best cultures, want to pay only as much as they need to. It’s financially sound logical.

If you get time to think and let them know later, then one of the first lessons in salary negotiations is to take time to evaluate the offer. Although one’s first reaction is to immediately lock down the offer, you might benefit more from a less impulsive approach.

For many people working for social change, whether it is based at a nonprofit, foundation, university, or startup, salary isn’t the driving factor in one’s work satisfaction or career goals. But it is important to look at salary as part of an overall package in considering a job, and also in your personal life situation.

Here are my top tips for thinking about a salary negotiation:

1. Do your Homework: To be successful or achieve partial success in a salary negotiation, it is important to do your homework and be prepared. Even prior to getting to a final interview try to get a sense of what are the potential salary ranges that the position might have. Young people have access to more resources than any generation before them. Salary figures, interview questions, and information about company culture can easily be retrieved from sites like Glassdoor or through alumni groups. Take advantage of these resources liberally; they’ll dramatically increase your chances of getting the job you want, at the salary you want. Asking for more or negotiating is a good way to show that you are a strong individual and you want the best for you and also what you think you rightfully deserve.
2. Goal, Alternatives and Walk Away point: One of the most important things you can do prior to starting a salary negotiation is determining prior to any discussions what is your goal in terms of salary, what is your mid-level and what is your walk away point (when the job just isn’t worth it).
3. Understand Salaries: It’s common for new grads to focus on their annual salary without considering the other factors that come into play. Remember, you’re not just looking for the highest salary; you’re also looking for the best possible fit for your lifestyle.
4. Create Value: Before you can ever hope to convince a company to pay you more than you want, you have to come up with some good reasons “why”. Look beyond what you think your resume is supposed to convey, and dig into some reasons why you’d be valuable enough to warrant additional compensation. Cite your expertise, your speaking abilities, willingness to travel or anything that can set you apart from the pack. Again, this can’t just be you bragging about how much you know. You have to present concrete examples of how these skills can help the company. In asking for a higher salary than one that is initially offered, it isn’t sufficient to say please give me more money. You need to develop a compelling argument based on clear criteria that will help convince the employer. Reviewing the job description, looking at key criteria such as skills, languages, etc. are a key way to start. For example, if you have particular language skills, tech or background in a key sector area saying something like “I appreciate the offer for this position. I am very excited about this opportunity. However, given my strong experience in training and curriculum design which include 5+ years, more than 20 programs, and the centrality to this position, I would like to see a higher salary level”.
5. Talk the Talk: The most important part of negotiating salary is your ability to clearly communicate your desires and why you feel that way. Practice what you’re going to say well before you ever have to say it. Anticipate the questions you’ll receive and prepare your answers. The more confident you are, the more convincing you’ll be when it’s time to talk numbers.
6. Be prepared NOT to get what you want: In one salary negotiation, no matter how hard I tried, the employer refused to budge (it wasn’t a big amount). They provided an argument saying, although I was the top candidate I was missing skills in one area. In the end, I had to decide whether to take the job or not (I did). My decision was that overall the job was a great opportunity.

One thing I emphasized is that the negotiating doesn’t end with your salary. If you don’t get the number you’re looking for, there are other things of value that you can negotiate with your employer. These include:

1. Leaves: In one round of negotiations, I didn’t get the salary I wanted, so I asked for additional vacation days — and got them. Vacation days are valuable! You get to not go to work, and go somewhere fun, or stay at home and catch up on TV shows — and you still get paid. The thing to remember if you ask for this is to actually take the time off. This will prevent you from burning out.
2. Better hours: I once had to show up for work every day by 9 a.m., which meant rising and shining at 7:30 every morning. When I got promoted, I asked to change my schedule to 10 a.m., and that made a huge difference.
3. Benefits: An upgrade to your health care coverage, Provident Fund facility and all. A better match for your company’s plan. Stock options. There are a lot of different things you can put on the table.

Don’t take it personally. But do make sure you fight for your side. It doesn’t mean the company thinks any less of you. It’s a business transaction, the kind you’ll be tasked with handling if you get the job, so treat it as such. Don’t let the process of negotiation diminish your confidence. Think about all the things that your workplace can actually provide you, and work them into your negotiations.

If you are worth the moon, ask for the moon!