How to negotiate salary – 3 simple strategies
Authors: Arjun & Sumona
Tell me about yourself. Where do you see yourself in 5 years? What is your desired salary?
Money talks are difficult when your self-esteem is low and you are in doubt about your market worthiness. So how do we approach the question – What is your desired salary?
Let’s simplify the strategy to result in the desired answer and impression with 3 easy steps –
Research what you are worth
Information is power. Market payscale helps in understanding your place in the graph of salary. The Y-axis is several years of experience, giving you a holistic picture of your pay scale. Now that you have a range, elucidate your percentile from the median or top. Where do you fall? The top end or towards the middle. It is easy for us to underestimate our worth, hence do not fall into that trap. Find out quantitatively, if possible, your place within the industry talent pool.
Explain why you deserve what you are requesting
For an organization to hire you, likeability is not enough. They have to believe you are worth the offer you want. From the above salary graph deductions, once you know your place, explain and present your argument on why you are the person you claim to be and the position you claim to belong. But also be careful not to sound arrogant while conveying the message.
Consider saying no
If your salary expectations are not in tune with the offered compensation, politely declining the offer is not a bad option. It could also mean a better counteroffer. Or requesting some time to consider the offer may also encourage the employer to reconsider their offered price while they wait for your answer.
If you don’t approach the subject of discussing finances, chances are that you won’t get what you deserve. So in your best interest, you must take charge of securing your desired job with a salary that you are worth.