Negotiating Salary & Benefits
by OMG at Work
During the interview and hiring process you may engage in salary negotiation for the first time or enter discussions for an increase of your current salary or benefits at your current employment. This can be a very daunting task. On the one hand, you do not want to appear too demanding, but you have a right to a salary which suits your responsibilities and your role within the organization. It is important to approach such a discussion with confidence, but also respectfully.
Here are three vital tips that you can follow for a positive salary negotiation.
- The main goal for all negotiations should be for a compromise. Neither side should be attempting to leave the negotiation a “winner”, but rather the best negotiations come about when both sides aim for a win-win situation.
- Be aware of reasonable expectations for your position. Do proper research when negotiating a salary. Find out the typical pay range for someone in your position and for others within your company. This will help you to have that ballpark idea of what the company should be willing to pay you, again working toward a win-win situation.
- Have a positive attitude, and be flexible. It is important to go in with a positive attitude. You want to have a set goal in mind, but also approach the negotiation with an open mind. For example, the employer may not offer you quite as high a salary as you expected, but the benefits may offset the difference in monetary compensation. Benefits have as much value as salary and while one position may not have as high a salary as another, the benefits may very well be better. Another approach is to have a predetermined list of items you feel you should have, versus those that you are willing to compromise for (and may give up).
Entering salary and benefit negotiations with all of this in mind will make for a much smoother process. Know that you have the right to pursue what you want and feel you deserve, but also understand that the company has to look out for itself as well. Be realistic.
Understanding all of this and applying it will give you the best possible outcome.
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