Negotiation Strategies To Get A Higher Starting Salary

Are you worried about attempting to negotiate your starting salary? Don't be that way. 73% of employers expect applicants to negotiate during the hiring process, according to CareerBuilder research.

Furthermore, failing to negotiate can cost you hundreds of thousands throughout your career. A few thousand ringgit in Malaysia per year can add up quickly. If you stay at the same organization for a long time, your raise will most likely be based on a percentage of your current income, which means you'll be stuck with a low-paying job for the rest of your career.

Even if you leave for better opportunities, the reflection of that one low bid may follow you. Why? Because many organisations base at least part of their offer on a candidate's salary history. (Although they shouldn't—more on that in a moment.)

Every job opportunity is thus an opportunity to increase your current salary and demand a higher salary in the long run.

 

Everything revolves around timing

Ideally, every job posting would include a starting salary, so neither party would waste time on a low-paying job or an applicant out of their price range. In this uncertain system, however, you don't always find out how much a job pays unless you've put in some effort.

As difficult as it is, resists the temptation to ask for salary information during the first interview. Don't bring it up first if the hiring manager does not mention it. Make them fall in love with you first while you secretly gather information about the job. You may discover that the position is more junior or senior than the title suggests, which will alter your offer. It's perfectly acceptable to say that you're adaptable and want to gain more knowledge about the job and the duties involved if you're asked to specify your price early on.

 

Research Isn't Gossip

People enjoy discussing their pay with colleagues and friends, and they should—being more open about pay can only benefit workers in the long run. Salary obscurity only benefits employers.

That being said, don't believe everything you hear. Although if your cubicle neighbour is meticulous in investigating his pay, you won't have the full picture. He may possess a hot skill you don't have right now, or he might have several years of expertise in a relevant area that makes him more beneficial to the team.

To compare apples with apples, you must examine vetted income information from thousands of anonymous survey participants who have no incentive to lie. Online wage calculators and surveys can help with this. Compare your salary to the salaries of peers with comparable skills and experience. Take the time to investigate a reasonable salary for an individual with professional credentials.

 

Salary Offers shouldn't be Based On Previous Experience

We previously stated that employers should not base offers on candidates' previous salaries. Why? Because businesses should use their remuneration budgets to encourage and incentive the things necessary to accomplish their company's goals. This may imply paying a higher price for a specific skill set for one company. It could mean rewarding knowledge resources and client relationships for another company.

To say the least, basing income offers on what another organisation has made the decision to reward is ineffective. But, barring a federal law prohibiting salary history questionnaires during the interview session, some employers will certainly continue to do so.

Your goal as a job applicant isn't to start making them see the mistake they've made. Your ultimate goal is to be paid. To accomplish this, try to steer the discussion away from salary information and back to the topic: fair compensation for this specific job.

 

Keeping Your Salary History Private Can Backfire

According to PayScale's report, Is Trying to ask for Salary History... History? job seekers who deny or reveal details about previous pay reveal a surprising fact. While men earn greater offers when they hesitate to reveal their salary history, women face a pay punishment for doing the same.

What's that? That is correct. "A woman who is questioned about her salary information and starts to decline to reveal earns 1.8 per cent less than the woman who discloses," according to the report. If a man refuses to disclose his identity, he is paid 1.2 per cent mostly on average."

That entails that when it comes to the previous salary, men and women may need to employ different strategies to obtain the best offer.

 

Women must approach salary negotiations differently than men

Research suggests that women may require different negotiation strategies in general. According to research, when women ask for more during the salary bargaining process, negotiators penalise them. According to the researchers, "perceptions of politeness and demandingness explained opposition to female negotiators."

One solution could be to link the higher application to a societal benefit. For example, a woman attempting to negotiate an offer of employment for a sales position may point out that hiring a seller who accepted the first offer on the table is not in the company's best interests.

 

Consider Options Other Than Today's Offer

In addition to attempting to negotiate a higher rate, consider future opportunities. This could include asking questions about the evaluation schedule and/or bonus eligibility, as well as inquiring about the educational value that will help you raise your profile for future discussions. Again, hot skills often translate into a higher salary.

 

It's All About Total Reward

Finally, don't overlook benefits such as health insurance, paid time off, and compensation packages. The figure on your paycheck is only a portion of your total pay. Outstanding health insurance or advancement opportunities may add more than that to your bottom line than decent pay. Before you either accept or reject their final offer, consider the big picture.

 

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