How to Negotiate Salary with HR?
Let’s discuss how to negotiate salary and get paid what you deserve.
How to Negotiate Salary with HR
Part 1: The importance of Salary Negotiation
Why is salary negotiation necessary?
Salary negotiation is an integral part of the job. Many employees are afraid to speak up even if they are not paid enough. But, by getting the right salary can:
- Your work can be recognized for its value.
- Increase your financial security.
- Get job satisfaction & motivation.
What happens if you don’t discuss it?
- You have to work unhappily and with a low salary.
- Taking on more responsibilities does not lead to growth.
- A salary increase will be difficult in the future.
Part 2: Preparing for a Salary Negotiation
Doing research:
It is essential to know about your work profile and the current trends in the industry beforehand. Understand the value of your skills.
Search Keyword: “[Your Job Role] Salary in [Location]”
Useful Websites:
- LinkedIn Salary
- Glassdoor
- Payscale
- Indeed
Know how valuable your competence is:
- Have additional certifications?
- Completed projects?
- Innovations for the company?
Determine your expectations
Salary expectations Range must be decided first.
Example:
If you mean 6,00,000 annually, ask for 6,50,000 – 7,00,000.
Then, you can receive at least 6,00,000 during negotiations
Topic: Do you want to know on How to write a perfect resume?
Part 3: Discussing salary in an interview
How should you talk about salary during an interview?
- Don’t talk about salary too soon.
- Start the discussion only once the job offer is received.
- Give “Range” without saying a complex number.
- Give clear answers
- Wrong: “My current salary is 50,000, I need to increase it a bit.”
- Correct: “Depending on my skills, experience, market value, expect between 65,000 – 75000.”
When is the right time?
- Even if a job is available, it’s best to discuss it only after you’ve been selected for an interview.
Part 4: Negotiation Strategies
- You shouldn’t be afraid to ask for a higher salary.
- Many are afraid of “missing this offer”. However, companies allocate more of their budget to their employees.
Discuss other benefits as well
- Health Insurance
- Bonus & Performance Incentives
- Work-from-home opportunities
- Technical devices (Laptop, Phone)
Let them know if there are alternative offers.
- Saying you have another offer will give you a stronger position in negotiations.
- Wrong: “Still trying somewhere else.”
- Correct: “My current offers are 8 LPA, but feels there is more opportunity in your company.
Part 5: Is the discussion not successful?
What if they don’t agree to pay more?
- Say, “I need more time to think.”
- Discuss additional perks
- Check other offers if required.
Can a lower salary be accepted?
- Accept the salary only if you need it.
- Learn about the future of the company.
- Assess your career development opportunities.
Conclusion:
Be bold to Negotiate your salary. Understand the value of your work. Do proper research about the salary beforehand. Show your value in the organization. Take advantage of opportunities and get a higher salary.
If you follow these guidelines, you will get the right salary.