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This ultimate guide will give you what you need to know to help you get that big raise you deserve!
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What does a 5% raise or more mean to you?
-- The ability to earn more
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chapter of GET MORE!
What you get...
-- The advantage in YOUR negotiation
-- Increased confidence
Get a glimpse in this amazing guide and see how it is structured to help you get results in no time at all.
100+ pages guiding in the world of salary negotiation
What you'll experience...
The myths and truths about salary negotiationBeating the psychological barriers including fear and confidenceKnowing what you want from a negotiation and establishing your worthTips and tricks to overcoming negotiation obstaclesNegotiation strategies in salary negotiationWhat to avoid in salary negotiations
-- Increased knowledge of YOUR worth
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3- Negotiation - The Myths And Truths
Do you believe you are being highly underpaid?
Do you deserve to be paid a lot more than what you are being offered?
Do you regret having accepted the first offer the company had given you?
Are you dissatisfied with the raise you got from your employer?
If you are facing these situations, it is safe to say that you are not the only one here. Salary issues are faced by a majority of the employees across the globe. There are many reasons why candidates are not able to bargain and get themselves a good deal. This could be attributed to a lack of confidence, fear of being rejected, lack of negotiating skills and the like. There are very simple steps you can take in order to negotiate your salary well. Let’s take you through the myths and realities of salary negotiation.
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Myths Of Salary Negotiation
1. You should be scared of negotiating
This is one of the biggest myths of salary negotiation. Should you be scared of negotiating your salary? What if they do not buy your arguments and you are unsuccessful at it?
Salary negotiations are exactly the opposite of it. If someone is willing to negotiate with you for your salary, it only means that your skills are in demand. You should be able to take advantage of that situation and get a good enough salary for yourself. Confidence is the key to all negotiations.
2. You do not have sufficient information to negotiate
When we talk of confidence while negotiating, it is completely backed by awareness and information. So, what happens when you believe you do not possess sufficient information? This problem can be easily resolved. In order to negotiate well, you would need to have all the information. All you need to do for this is Google all the information before you discuss your salary. Thereafter, you are absolutely set to negotiate.
3. Everyone negotiates their salary
This is again one of the most prominent myths. Not everyone negotiates their salaries and hence you are indeed different in this. A huge section of the employees fails to negotiate their salary and do not make a counteroffer for it.
This might be because of a lack of sufficient information and also because people are scared to counter the salary offered. You need to have a good enough idea of the job market in order to negotiate your salary.
4. Negotiation works wonders for everyone
This is not true at all. Not all negotiations will be successful. Sometimes, the most obvious situations do not work in your favor.
For instance, if a strong point in your negotiations is the number of years of experience, this could go against you in a situation where the employer is looking to hire fresh talent. There are different requirements for any job opening and you would need to cater to all of them in order to be successful. The market condition plays a major role in this.
5. Success depends entirely on your salary
We often mix up the two concepts of success and salary. We tend to associate progress or success with an increase in the salary. But is this really correct?
For instance, if your salary increases from $50,000 to $80,000, is this the perfect situation? It might not be if your coworkers are earning in the range of $100,000. The idea is to gain progress on your current situation and abilities. Evaluate your current worth in the market and then look to succeed in the job market.
6. Negotiations depend entirely on what you say
This is another myth involved in the world of salary negotiations. Most people tend to believe that what you say in the negotiation alone can make you successful. But there are many other factors to be considered here.
For instance, your negotiation skills will start with your body language. If you are moving in a way that does not ooze out confidence, then you might be in trouble.
How you sit goes a long way in determining your confidence. Also, it is not just about what you say; it relies more on how you say it and convey your point. If your tone has even a bit of doubt, then your negotiations are not likely to go very well.
7. Everyone is considered equal in a company
If you believe everyone is equal in a company and will be treated fairly, then you are in for a surprise. In the employment market, how you sell yourself will determine the position you hold in the market.
For instance, if there are two people in a particular post, it might be possible that one of them earns a lot more than the other. Why is it so? This is because one of them has been able to project himself or herself in a very different way and thus has called in for a high salary. Thus, your ambitions for a high salary can go as far as you can sell yourself.
8. You might offend the employer when you negotiate
This is, in fact, just the opposite. Most companies and interviewers are actually more impressed when you hold the skills to negotiate for yourself. However, the key here is to do so in a very business-like manner such that you are professional about it.
Believe it or not, when they offer you a salary, there is always a backup salary in consideration such that you can get a scope for discussions and negotiations. It is important that you trust yourself to test the upper limit but also maintain your professionalism and do not go overboard.
9. Try to hide your current salary
If you think hiding your current salary and giving them an inflated value could help you in your negotiations, then you need to think again. No good can come out of not disclosing your salary. The objective should be to get a significant raise over your current salary, based on market conditions rather than getting a little too ambitious and disclosing a wrong salary. That, in fact, could retard your growth. Being honest about your salary and being diplomatic at the same time could help you in the process of negotiations.
10. If this is your first job, say no to negotiation
A lot of people believe that if it is your first job and you do not have experience, then you should just accept whatever is offered to you. This is the sole reason why employers tend to suppress you and get you on board for a relatively lower salary. But this is one notion we have to get rid of.
Even if it is your first job and you are not backed by a lot of experience, you would still be paid according to industry standards. For that, negotiation is an absolute must.
11. You cannot negotiate when you do not have another offer
What do we fear the most while negotiating our salary? The idea of being rejected and not having a backup option is what scares us the most. This is especially true since most of us have a lot of responsibilities to take care of.
Not having an alternate income reduces your bargaining power and makes you feel a little helpless. But, this is entirely a myth. It is always best to negotiate even if you do not have another offer. If the employer refuses to give you a raise, you could always go back and take the previous offer.
12. Is the offer more than what you expected? - Take it
It often happens that your expectation of the salary and the market standard might not be the same. So, when people receive an offer that is higher than the expected salary, they often tend to go ahead and take it. But, what if the offered salary is much lower than the market situation?
In order to confirm that the salary offered matches the industry standard, it is best to negotiate and fetch yourself a good offer. Getting satisfied with the current situation and not negotiating might be a little too risky.
13. The economic situation is bad, hence do not bargain
If you do not negotiate based on your economic situation, then you are not getting yourself the best possible offer. Even if you think the economy of the country is in a mess, it is imperative to remember that your skills are still in demand.
Irrespective of the situation, you can still find value in your skill set. Employers will always give importance to good talent and professionalism. Besides, as long as you can sell your talent the right way, negotiation is always on!
14. The internet is all I have to know about current salary structures
The internet is the most extensive source to get an idea of the market structure, but you must be very careful about what you read there . It often happens that a more genuine market survey can be conducted offline, by exercising a good network connection with colleagues, friends and educational institutions.
This could give you an exact idea based on your location, regional factors, and the like. It is imperative that you collect all such practical information in order to put them to use later.
15. It is presentation, rather than preparation that matters
A lot of employees are living in the myth that it is more about presenting yourself in the interview and negotiations that matter, as compared to preparing yourself early on. Your activities prior to the negotiations do matter and they play a big role in how you present yourself on the day.
Doing the homework prior to a negotiation is always beneficial. Be it understanding the current market situations, valuing the demand of your skill set, or even knowing the company in detail, the little homework you do can go a long way in leading to a successful negotiation.
16. Ask for what you want
As an advice for salary negotiations, you will often be told to ask for something that you want or need. But, the key to a successful negotiation is to ask for more than what you want. Just like how the employer keeps a buffer amount ready for negotiations, as a potential candidate, you could keep some buffer as well.
Thus, if you ask for a little extra, after all negotiations, you will still be getting a decent enough sum! Negotiations will always involve going back and forth and that is when this extra buffer will be advantageous.
17. It is great if your employer agrees immediately
If you place a counteroffer for your employer and he or she agrees to it immediately, then it is time to go back and think again. Because, chances are, in this case, that the employer is rather happy to pay you that sum and that indicates that you are getting something less than the market value. In other words, you didn’t ask for enough.
Instead, if you are setting a slightly higher target, you are likely to get a fairer negotiation. For this, it is best to collect all the information you have and put them to use.
18. Back off if the employer says no to negotiation
The employer will, more often than not, have the capability to negotiate your salary with you. But they will try to discourage you from doing it and thus get you on board with the first offer. This is a trick on the part of the company to scare you off in the first instance.
When you can negotiate well, in spite of having some counter resistance, you display a spirit of determination and perseverance to the employer. Being assertive is an important skill in the corporate world. So, even if there is some resistance, it is good to hang on and express your opinion.
19. You cannot ask for a salary that is way more than your current draw
This one myth might prevent you from being ambitious in the corporate world. Yes, it is true that we have a particular market value associated with our name, but we are not bound by the salary completely.
It is okay to believe that you deserve a good raise. It will be every employer’s objective to take advantage of your low salary and make you an offer accordingly. But, in this situation, holding on to your opinion is of primary importance.
20. Accepting a low salary is only a stepping stone for a big increment
If you believe that the salary offered is only for your entry into the company and you will soon be appreciated with a big raise, then you are in for a big surprise!
The idea is to enter the company with as big a paycheck as possible. This will only solidify your ground in the organization and the salary hikes will follow. This is also true since the standard of living is increasing on a regular basis and you would need a good enough salary to start off with.
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by The Negotiation Hub
The Ultimate Guide to Ngotiating Your Salary
This ultimate guide will give you what you need to know to help you get that big raise you deserve!
[
BUY NOW ]
Copyright © 2018 The Negotiation Hub
Email: info@thenegotiationhub.org
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