21 tips to negotiate your salary more effectively

Negotiating for a higher pay may not be the most comfortable things to do. Whether you are starting a new job or eyeing an increment at your present one, negotiating your salary is mandatory, if you do not want to feel lousy later.

Imagine this. You and your friend or colleague started along the same path. You truly believe that you both had similar journeys and career paths, just that your colleague or friend knew his or her worth and had the guts to negotiate for a hike. Wouldn’t you be left feeling miserable thinking that you too deserve better?

Well, to avoid such a situation, and of course to reward yourself for what you are truly capable of, here are 21 tips to keep in mind while negotiating your salary:

Explaining your previous salary

This can be a tricky task, especially if you are asked your current salary. Always mention the exact number, and in case you are underpaid, explain why you deserve the value you are quoting.  Also emphasise on your skills and previous work.  Tell them how you can be of value to the company and how you are expecting to grow.

Do some research

Get enough knowledge about the market and how much pay you deserve. Also study the industry that you are working in and find out what people of your level usually look out for.  There are several sites that help you analyse your salary. It would also be a good idea to get in touch with recruiters for a casual discussion to see what they offer potential clients with similar skill sets.

Understand the current state of the company

Know about the company’s situation well in advance – the investors, revenues, how much they intend to shell out in the coming financial year etc. If the situation of the company isn’t too rosy, then it wouldn’t be practical to negotiate for a very big hike. Instead, ask about considering other alternatives like more vacation days off or better projects along with a small percentage increase in your salary.
Read More: https://yourstory.com/2017/04/21-tips-to-negotiate-your-salary-more-effectively
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