How to Negotiate Salary for a New Job?
By Pushpa Pradhan
Salary negotiation is an integral part of starting a new job; it is your time to make sure that the salary offered is in line with what you can offer in that particular position. Salary negotiation is a professional talk that sets up a structure for your career life because it helps you to start your entry-level career feeling fantastic about your compensation potential.
The good thing is that negotiating salary does not have to be scary. Having the right mindset and some tactics and strategies will help you to confidently negotiate salary and get the best out of it.
Why Salary Negotiation Matters
- Long-Term Earnings: A higher salary at the start will compound over time and could impact your bonuses, your raises, and your retirement contributions.
- Professional Value: When you negotiate, you are communicating to your employer that you know your worth, and you feel confident about what you can bring to the job.
- Job Satisfaction: A fair compensation package supports motivation and job satisfaction.
1. Research Before You Ask
The most important part of the salary negotiation process is preparation. Knowing what your position pays in the market gives you a great starting place and knowledge.
- Check Industry Standards: Look at Seek, Jora, or LinkedIn to see average pay for your position.
- Consider Location and Experience: Salary ranges can be different depending upon the difference between cities, company size, and years of experience.
- Know Your Value: List down your skills, certifications, and accomplishments.
2. Practice Clear Communication
Negotiating salary is not only about numbers, but it’s also about how you communicate your request to the employer.
- Wait for the Right Moment: Avoid discussing salary too early in the interview.