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28 Aug 2015

POSTED BY David Jackson IN Career Opportunities, Content, General, recruitment, Recruitment & Career | Aug 28th, 2015 | no responses

How to Negotiate Salary after Landing a Job Offer

“We are very impressed with your professional and interpersonal skills and would love to have you on board!” says the HR. You think to yourself, “Wow, I’ve got the job… but wait, what about the salary? What if they do not pay me as much as I think they should? After all I have all the qualifications and experience! Should I decline the offer? Should I compromise on the pay package because the profile is a perfect fit at this stage of my career?” And whoosh! Suddenly, the excitement fizzles out. But don’t worry. Keep calm and keep the channels of communication open. Here are a few tips on how to negotiate salary after landing a job offer.

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You’ve done your Glassdoor research, dug up information about the company’s size, business and financial strength and compared its pay packages with its competitors. The only thing keeping you away from signing that job offer is a ‘base salary figure’. You’ve mentally rehearsed saying that figure time and again, and with everything going so well for you until this stage, you do not want to let go of an attractive employment opportunity by over quoting! The HR, who seemed very friendly until now, suddenly gets poker faced – making you believe that one wrong word and the offer’s off your plate and in some other candidate’s hands! You have almost got the job and are at that crucial point of discussion where the question of compensation cannot be staved off any further.

So when the HR asks, “What are your salary expectations?” here’s what you do – you make him/her fall in love with you all over again!

 

 

 

 

Thank the HR Manager for wanting to hire you. Stress on how you think the new profile will give you a wonderful opportunity to leverage your previous work experience and skills. There is no urgency to lock the offer. Enquire a little more about the job. Ask questions related to your specific responsibilities:

  • What stage will you be at in the company hierarchy?
  • Who will you report to?
  • How many employees will you be heading?
  • What will be your team size?
  • What are the company’s bonus benchmarks – would it be based on your own accomplishments or your team’s performance or the company’s overall profits?

Depending upon your industry, your focus should be either on getting a hefty base salary or a concrete bonus. At some companies, the base salary is rarely a matter of negotiation because bonuses are quite attractive. At other firms, where the concept of bonus is not tangible, you have room for negotiating your base salary. If that is ruled out too, you have allowances to negotiate for! Whatever the case may be, buy some time to do your calculations before you come up with a figure. Crunch your numbers and get back to the employer within 48 hours.

Remember, when you negotiate your salary after landing a job offer, do think of yourself as still being in a job interview. The most compelling way to get the HR to reconsider the base salary offer is by reselling yourself. It is a good idea at this juncture to remind the employer that you have a Master’s Degree and a great many years of relevant work experience that can add great value to the company. Of course, the most convincing statement to make is that you’ve compared average salaries for that position in the job market and have come up with a basic range.

Truth is, every HR knows that candidates would try to negotiate salary after landing a job offer and they are almost always prepared to let them bargain a little more money than the initial offer. So, do not hesitate; just ask the HR if they can do a little better. With a little research and a little tact you can surely get paid as per industry standards, if not better!

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The S2M & AIMIA Salary Survey is now open: tell us what you’re worth, and see how your salary stacks up in the digital industry – http://survey.s2m.com.au/

Looking for high paying jobs in Sydney, Melbourne, Brisbane or any other city in Australia? Register yourself at www.s2m.com.au and get hired by Australia’s top paying companies!

 

 

 

 

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