5 hacks to secure a higher salary package in a company (5 mins Read)
Negotiating a salary can be quite a difficult conversation even for the most experienced professionals, whether you are negotiating salary for a job with a new company or discussing your pay for a promotion, or asking for a hike. In order to help you get the hike you deserve, we’ve listed the following 5 hacks which will fetch you the desired package.
1.Find your worth: First you need to look at your experience, skills and the qualifications you have, study about the industry you’re in and after a thorough research, you will be able to know exactly what you are worth for. You can check on the salaries of any industry, company or a particular role from different websites like Glassdoor, Payscale and many others which will help you understand what’s the packages offered in the market.
Further, if you have any additional skills which others don’t have, then you know you deserve more than others. It’s extremely important to showcase your skills in the resume clearly. All these will give you a very good chance of getting the desired hike which you’re looking for.
2.Don’t quote an amount first: This is the most important of all the hacks. You should never mention a figure right at the beginning, as you don’t know what’s the budget of a particular company for a specific post. You should not mention at first as you might miss out on an extremely good offer if your figure is lower than what they were planning to offer you.
Every company wants to save their costs and expenditures, so don’t think that they’ll be honest enough to give you what they had in mind when you’re asking for an amount which is less. So, it’s better to keep quiet until they mention a figure to you first. Wait patiently for them to mention a figure to you first and then you can negotiate.
3.Build a very good rapport with the employer: When you know your worth, you need to show that to the employer. So, it’s extremely important that you communicate your worth to the employer by citing the examples of your great acheivements. You need to be very clear while conveying your skills, what you’re capable of and your attractive profile.
It’s very important to bring your employer on the same page about your worth as a thorough professional. You can do that only by building a good rapport during the entire interview process and being clear in communicating while showcasing your skills and potential. If you can make them like you in some way or the other, it will then give you a much better chance to ask for the package you desire. One good idea is to find out a common link between you and your employer to connect on a human level if possible.
- Quote an exact figure to counter if the offer is less: Once they like you and give you an offer then you can counter that with an exact figure if the offer is lower than what you want. This will show the employer that you’ve done your homework and the necessary research and understand the market and industry trends very well.
If you’re not very sure of an exact figure and give them an approximate number to work with, then they’ll easily convince you by giving some facts that you’ve never heard of, as they would be able to know that you are not aware of the market very well. So, you need to present yourself as a very knowledgeable professional who knows about their industry and the role.
- Wisely play the walking away card: If none of the tricks work then you can use the trump card. Let them know that you have some other better options available with you but you were eagerly looking forward to working with them. You need to tell them carefully that you were hoping to join the company but not by compromising on your salary and the overall package.
If they realize your worth then they will give you the package you want. If they do that then it’s great or else you can always find better options and companies which will recognize your talent and offer what you are worth for.
CONCLUSION: While negotiating your salary you need to understand your worth by doing thorough research about your industry, skills and your experience. You have to always maintain a healthy relationship and build a good rapport with the employer and don’t mention a figure at first and always counter their offer with an exact figure alongwith the valid reasons for that. If it doesn’t go your way then you need to be ready to walk away politely but not before making them think that they’re losing on a great employee which would have been a big asset for the company.