I don’t think I have ever met anybody who enjoys negotiating around salary, but unless you don’t care what your salary is going to be and can afford to get paid less than your worth, this is something you need to be able to do. It is vital that you know how to negotiate yourself the best salary possible, without blowing the deal, as that can potentially cost yourself thousands.
Not doing your homework
It is pretty hard negotiating yourself the best deal salary wise, if you have not done your homework and know your worth and what a reasonable fair salary would be. For this reason it is essential that you research the job responsibilities you will be doing and what people are earning in these roles.
Not knowing your own salary details
It is amazing how many people do not know exactly what they earning and what benefits they get. Make sure you have a pay slip on hand and ensure that you have the information at your fingertips in terms of your base pay, any benefits you may get and what you take home is after tax. Not knowing your own worth can be very career limiting and is not going to help you get the best deal salary wise.
Failure to consider non salary benefits
You need to always take not only the salary component part of the package offered into consideration, but also any perks that you may get. If you get stuck on negotiating on your base pay, there may be room for negotiation in terms of perks that the company may offer. Examples may be that the company may consider a signing on fee, or relocation costs, or possibly a car allowance.
Not being realistic in terms of your expectations
It’s all very well ensuing you have great negotiation skills but you also need to be realistic in terms of what you are asking for. Negotiating is about compromising and if what you are asking for is just not affordable for the company, you are going to blow it, if you try to bulldoze your way into getting what you want. The key is to get as much as possible within the companies budget.
Don’t rush into accepting the first offer
Most companies are expecting you to negotiate, and they often have some room for negotiating. So when made an offer have a look at it, but counter offering is something that you should consider doing, unless the offer is exceptional and they make it clear to you that there is no room for negotiating.
So always remember if you are not negotiating during a salary negotiation, then you are doing something wrong. Be bold, know your worth, have confidence in yourself and fight for the best deal for you, but always play fair and hopefully both parties will go home happily.