Negotiating your salary can actually “make or break” your chance of being chosen. It’s also a crucial step in ensuring that you are fairly compensated for your credentials and experience. Here are some do’s and don’ts to help you navigate salary negotiation effectively.
Do’s
Do Your Research
Know the current market and industry standards for the position you’re applying for. Understand the salary range in your geographical area and use websites like SEEK and LinkedIn to gather valuable information.
It is also suggested to prepare in explaining your salary expectation. Highlight your unique skills, experiences, and accomplishments that make you an asset to the company. Concrete examples and metrics that demonstrate your impact in previous roles can be very persuasive.
Consider the Compensation Package
Salary is just one part of your compensation. Oftentimes, there are benefits included in the whole package like health insurance, retirement contributions, bonuses, stock options, and work-life balance factors like flexible hours or remote work options which are, in fact, important. Take the time to consider these factors as part of the overall package.
Show Enthusiasm
Expressing genuine enthusiasm for the role and the company can positively influence the negotiation. Do not display any signs of dissatisfaction when the salary does not meet your expectations- allow flexibility and maintain professionalism (this is the key!). Still, show the employer that you’re invested in the role you are applying for and how you can contribute positively to the company culture.
Don’ts
Don’t Accept the First Offer Immediately
It’s a common practice for employers to start with an initial offer. Politely acknowledge the offer and express your enthusiasm, but don’t be afraid to ask if it is still open for discussion. It is also best to keep the negotiation professional. Hence, avoid disclosing personal matters in the salary negotiation and instead, state your professional value and the current market rate for the role.
Don’t Be Rude
Salary negotiations should be collaborative, not confrontational or aggressive. Maintain a respectful and professional demeanour throughout the conversation. In addition, pay attention to what the employer is saying as there may be budget constraints on their end. Understanding their position can help you and the employer land on the same page.
Don’t Ignore Red Flags
Pay attention to how the employer handles the flow of the discussion. Their approach can give you an idea of their company culture and how they value their employees.
Negotiating your salary is an important step in your career progression. By preparing properly and approaching the conversation with confidence and professionalism, you can ensure that you receive the compensation you deserve.
Please feel free to visit our Job Seekers page for job-hunting tips and the available positions we have or contact us at 0800 587 546 or via info@therecruitmentalternative.co.nz.
