Negotiation of salary

Actions speak louder than words. But if you’re good at negotiation, words do the talking. Good clean negotiation skills have the power to change the course of any deal in your favor. Here’s what you should keep in mind while setting terms for a new job:

Whether you are employed or a aspirant, it is necessary to know and evaluate your worth. It is important to know where you stand in the big league, because it’s precisely your position that dictates your pay packages among other goodies, unless your work outweighs it extensively. As for the freshers, a rich portfolio alongside academic excellence is sure to set you apart. So kick start the day with introspection.

Be clear headed about the terms you’d want to be met in a new job. That in turn depends on the nature of your hunt. If you are looking for a change simply out of despair (Let’s admit it, it’s quite frequent), you will likely not go beyond setting for the pay package.

But if you are content with your current position, do not shy away from penny a long list of expectations. Break the ice with money talk and extend the negotiation to perks, designation role within the department, shifts and, at times, the target or deadline you may be required to meet regularly.

Another important negotiation tool is anticipating what the company has in its bag to offer. By drawing an idea of the potential designation, salary slabs and work culture in that organization, you can plan and quote your expectations accordingly. Anticipation also helps in preparing well for those crucial and decisive rounds of interview.

As much you require to present a confident personality, it is important to stick to a firm stand. Cutting short the expected CTC suddenly and extensively for fear of rejection shall do more damage to your personality than ensure the job.

At the same time, an out and out rigidity can also fire back. The key is to show balanced and tacit flexibility without compromising much with your interests.

Quite a number of companies indulge in bargaining. By all chances, they will cut down the figure by 25 percent. A fair way to counter this tactic is to quote a slightly raised salary from your end. So in the end, both parties can settle around the same figure you had planned initially. Interestingly, there can be times when the hiring corporation accepts the raised figure without much ado. Just give it a shot.

It is clear that when two parties interact, through negotiations, to resolve a conflict, both parties have an idea about what they want to gain from the conflict. Just as clearly, capable negotiations are interested in the stability of the outcome that they jointly shape. If either party or both, settle on a negotiated outcome that they have no reason to regret or resent, they have the incentive to reopen the negotiations, often in a hostile way. If, however, a negotiated outcome endures over time, it is a stable outcome. Stability is not the only feature of successful negotiations, but it is a necessary one.

Salary bargaining comes last when the potential employer decides to recruit the aspirant candidate. Then the above suggested guidelines are applicable. If the employer has indicated another round of interview then it is too early for the aspirant candidate to talk about salary. At the most at that point of tome the potential employee can ask for the Company’s promotion or growth policy. He or she must make it a point to attend the second round to settle the salary and job.