Getting selected in a job interview is only half the job done; the other half is salary negotiation. When negotiating a salary, timing is important. Asking the salary amount right in the first instance would be imprudent. It is important to get the job offer or reach the final interview first before negotiating the salary. This article gives some tips on salary negotiation, helping you in negotiating your salary with a prospective employer.
There are many different situations that one would face regarding the salary that he or she is offered depending on the type of job and the type of organization. In some jobs there may not be any room for negotiations, you simply have to accept or reject what is offered. If you don’t like what is offered, you have to look for another job.
Looking from an employer’s perspective, if you have fixed X amount as the salary for a particular job and if somebody is willing to work for X-Y amount, you would have saved Y amount for the company. Hence you may initially offer X-Y amount to see if the prospective employee accepts it and give yourself room for negotiation if required. Remembering this strategy, when the employer asks your last pay drawn, you must disclose the true amount and also explain why you are worth more like you were responsible for increase in sales by Z% or you have saved Z amount for the company and so on.
If in an interview you are offered X amount as salary and asked for your opinion, there are some options for you:
1) You can remain silent in which case the employer may think that you feel it is too low and might raise the offer
2) Explain to them the last salary that you were drawing and that you expect a raise by Y amount and the reasons for the same. The Y amount should be a few thousand dollars more than what you are willing to settle; this would give you room to negotiate in case the employer wants to bring it down
3) Accept the offer on the condition you expect the salary to be revised after a few months on the basis of your performance. This offer is most likely to be accepted by the employer but you are taking a risk in that you should demonstrate tangible benefits to the employer within the agreed time.
Depending on the position you may also ask for a share of the profit or benefit that has accrued to the company because of your efforts. Like if you are in sales department, a share of the X% increase in sales that you have brought to the company or if it is production department, a share of the X amount of saving because of your efforts etc.
Whatever be the case, it is important to negotiate your salary at the time of interview or later in order to get what you are worth.