Salary negotiation is the most important financial move that you are not making. Asking for more money at times seem very painful but could impact a lot in the paycheck for the rest of your life.
After spending long months on an exhaustive job search, sending out resumes and dutifully attending interviews; finally you get an offer for a job you wanted. Triumph? Nope you’re not done yet. An important task is awaited: salary negotiation.
A recent Glassdoor survey shows that women negotiates lesser than the male counterparts.
Connie Thanasoulis-Cerrachio stated that money is emotional, but following a well-disciplined strategy can help take the emotion out of it. Here are five of her negotiation tips to give you the correct market value.
Don’t hide your current figures
Don’t hide the truth when job recruiters ask for your salary. You might be tempted to fudge because you know that you are being paid below market value. Your salary history won’t remain hidden to the recruiting company, once you get an offer.
Instead during the interview process make it known that you need more leverage when compensation talks begin. And that way you can add any bonuses you’ve earned to your base salary in your response.
Don’t take the offer instantly
Resist the temptation to seal the deal quickly by accepting the first offer. You might be leaving a lot of money on the table if you lowball your own salary, says Thanasoulis-Cerrachio. This can include vacation, 401(k) match, stocks, education/training, commuting or moving expenses, and more.
Use objective numbers
Make a comparison survey for the salary and role before taking the offer. Prepare multiple data points that include salary websites like Glassdoor.com, Wetfeet.com and Salary.com, and compare like roles in similar companies within your industry.
Use the right language
Be affirmative in your words, that support the offer they’ve just given you. Expressing gratitude and excitement will help build on what you do agree with — and will hopefully land you and your potential employer at a realistic number that’ll make you both happy.
Practice the art of negotiation
Even if you’re trying your best to take the emotion out of it, negotiation is nerve-racking no matter how you slice it. The best thing you can do for yourself is to practice with someone you’re comfortable with — someone who will give you honest feedback.
“Practicing with someone who will say ‘no’ and ‘maybe’ will build your negotiating skill,” says Thanasoulis-Cerrachio. And practice until you look and feel confident.
You might not always get the number you want right now, but it’s not just salary that can be negotiated. Consider what will really make you happy to take on this job and then revisit the money question in another three months.
In a sample news ,India’s stock exchanges witness their overall cash market turnover dropping over 43 per cent during the first four months of 2016 .
During January-April 2016, the cash value of NSE stood at Rs 13.64 lakh crore while that of BSE touched Rs 2.3 lakh crore.
Of the total turnover, NSE took a 85.4 per cent share in the cash market segment whereas BSE accounted for 14.5 per cent.
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