Not so many people on a job hunting spree get it right during salary negotiations. This can, at times, be due to lack of experience in job market or lack of failing to value one’s skills even after long period of serving.
According to MyJobMag Kenya, a few hours of preparation and an uncomfortable five-minute conversation could dramatically increase your future earnings.
Here are tips to increase your next offer:
First, know that your salary negotiation has an outsized influence on what your compensation is and that compensation is not limited to money.
Also, a Ksh.5,000 increase in compounds over time.
Over the next 10 years, the value of a Ksh.5,000 a year extra salary is close to Ksh.100,000 gross
You must shift your mindset to embrace negotiation.
Your salary negotiations are probably going to be the most important financial decisions you will ever make.
We socialize most to go into them unprepared, demotivated, & fearful of success.
Rich, successful people negotiate.
Your negotiation starts before you apply for the job.
Start by establishing a reputation in your field as someone who delivers measurable results vis-a-vis improving revenue or reducing costs.
You want hiring managers reaching out to you about an opening they want *you* to fill.
If both sides come to the conclusion that you’d be a good fit, it’s their responsibility to take a stab at what a mutually fulfilling offer would look like.
It’s your responsibility to suggest ways that they could improve it such that you can come in and do an awesome job.
Recruiters will sometimes start the conversation by asking what salary you’re looking for, you can easily maneuver around this question by saying you would like to learn more about the position before talking about salary.
Do not use: “I need this job because…”
You never need a job.
Instead, try: “I’m enthusiastic about the opportunity with working with you, assuming we can come to mutually satisfactory terms.”
Delay salary discussions till the time you’re offered a job, the same applies to raises too. The first rule of salary negotiation is what everyone tells you it is: Never give a number first.
Always let the employer suggest the salary that they can offer, first.
After hearing the offer, repeat the top value and then stop talking.
You always, as a matter of policy, negotiate all offers.
You’re not a peasant. Don’t act like one
Counter the offer with a researched response. It indicates that you’ve done your “homework” before the interview and are aware of the reasonable salary for the designation.
Once the salary discussion is over, you can negotiate additional benefits such as extra vacation days, working hours, remote work, professional development, etc.
Don’t limit your focus to salary. There are many parts of a compensation package to negotiate.
Source | MayJobMag Kenya