How to negotiate salary and accept job offer !!

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Do’s and Don’ts: How to Negotiate Salary

In some industries, a weak labor market has left candidates with fewer options and less leverage, and employers better positioned to dictate terms. Those who are unemployed, or whose current job seems shaky, have seen their bargaining power further reduced. But the complexity of the job market creates opportunities for people to negotiate the terms and conditions of employment. Negotiation matters most when there is a broad range of potential outcomes.

If finding the desired job tops every jobseeker list, getting the desired package is right next to that. Rather than being occupied with questions such as how to negotiate salary, how to discuss salary with HR, & so on, it’s better to get relevant tips to successfully negotiate a higher salary.

In this , we shall discuss various things to keep in mind before negotiating a salary package for your new job.

Here are some important things to keep in mind before initiating a negotiation of a salary package for your new job.

A virtual interview is an interview that takes place remotely, sometimes over the phone, but often using technology like video conferencing and other online communication platforms. Virtual interviews are often conducted much the same way as face-to-face interviews. That said, virtual communication requires special considerations and adjustments due to the limited ability to read body language and facial expressions.

How to attend virtual interview

When an employer extends a job offer, they will usually present you with a package that includes a proposed salary. However, if you feel that the pay does not align with your education, career level, skill set and strengths you have to offer, you may choose to negotiate for more. You may also suggest another form of compensation (such as equity or stock options) or additional perks (such as extra vacation days).
Knowing how to negotiate salary offers is a valuable skill that can increase your earning potential throughout your career and better ensure you are fairly compensated for the work you do. However, like any skill, it takes preparation and practice to do well. Here are some tips to get started.

Understanding Average Salary Trend

Equality above all, Well, it applies in professional fields too. Negotiating a salary majorly depends on the average salary trends in your specific field. This data shall help you negotiate salary packages on reasonable & justifiable grounds. Websites such as AmbitionBox.com help you get accurate salary insights categorized under companies, experience, or relevant fields.

Know Your Value

Before negotiating salary with HR, it’s important that you have analyzed your value as an employee well. There are several factors that shall help you determine your professional value. These are some parameters:

1. Geographic location
2. Years of industry experience
3. Years of leadership experience
4. Education level
5. Career level
6. Skills
7. Certifications
8. Achievements

Be Prepared for Obvious Questions

Why should you be paid this much? Why do you expect such a big raise from your previous salary package? These are some obvious questions that HR’s may ask while negotiating a salary package.

Be prepared beforehand with answers which can justify your salary expectation. Here is how you should answer such questions:

Stress upon your professional achievements & highlight their impact.

Talk about the average market package offered to professionals with your kind of professional experience.

Identify your expertise in key skills required for that specific job & how does it make you stand apart.

Highlight awards or appreciations which you may have received for a project which may be relevant.

Be To the Point

While negotiating salary with HR, keep the conversation to the point & precise. Do not beat around the bush. Put your facts across & reasons why you expect the desired package.

Negotiate, Don’t Bargain

There is a huge difference between negotiating a salary offer & bargaining a price. Negotiating a salary with HR or even negotiating a salary over a phone is purely a professional conversation, don’t at any point make it a shopping bargain.

Every employee should know how much salary package to ask for, so should every employer know how much to offer.

Looking at parameters, facts & skills, both parties should come to a common package in the most professional environment.

Don’t Be Afraid To Take Decisions

Rather than accepting a package half-heartedly, it is better you let it go. We have a reason to say so!

It’s mostly seen amongst employees that if they aren’t happy with the remunerations, they end up being unproductive, thus negatively impacting their professional growth.

Hence, if you aren’t convinced with the salary package offered, don’t be afraid to walk away from an offer.

Prepare your talking points

As you are developing negotiation notes, it might be helpful to answer the following question as a framework for your conversation: Why do you feel you deserve a higher salary than the one the employer is offering? Be sure to put together a few talking points before you contact the employer and be as specific as possible. Those details might include the following information.

Results you have achieved in previous roles such as goals you have met, the revenue you have helped drive or awards you have earned. If possible, use actual numbers.

Years of industry experience, particularly if you have more experience than the employer stated as a requirement.

Skills or certifications, especially if they are in high demand within your industry.

Be confident

Delivering your negotiation with confidence is as important as the words you say. The more confidence you convey, the more confident the employer will be in their consideration of your feedback. Remember you are bringing an important set of skills and experience to the organisation and the pay an employer offers should account for the value you provide. If you feel the employer’s original offer is below the value that aligns with your skills and experiences, you have done market salary research and have personal value data that supports your ask, have confidence in your decision to ask for more.

Share expenses you are incurring

Another reason you may want to ask for an increased salary is to cover any costs you are accumulating by taking the job. For example, if you are relocating to a new city for a job, you will have to pay moving expenses as well as any costs associated with selling or leasing your current home. If you are taking a position further away from home, you will have to factor in commute expenses such as train fare or fuel and wear and tear on your vehicle. It is not unusual for candidates to ask employers to adjust the salary to account for their expenses.

Be flexible

Even if the employer is unable to provide the salary amount you want, they may be able to offer other forms of compensation. For example, you may be able to negotiate more stock options, extra vacation days or additional work-from-home days to combat a lengthy commute. Do not be shy about asking for alternatives. In some cases, they may be just as valuable, or more valuable, than a paycheque.

Express gratitude

Once you reach the job offer phase of the hiring process, you have probably invested a great deal of time and energy applying and interviewing for the position. The employer has also invested time in the process so you must recognise this and thank them for considering you for the opportunity. Be sure to share any specific reasons why you are excited about the job such as the culture or the product.

Even if you end up declining the offer, it is important to do so in a friendly and professional manner. After all, you never know what opportunities they may have available for you in the future.

Examples of How To Negotiate Salary On a Email

Here are samples of how to negotiate a salary package in an email.

Hello Mr/Ms. XYZ,

Thank you so much for your job offer for the position of XYZ. I am delighted & am looking forward to being a part of your prestigious firm.

However, Before I can accept your offer, I would like to discuss the salary package offered.

Honestly, I feel there is room for an increase in the proposed package.
As already mentioned at the time of the interview, I have X years of experience with expertise in XYZ skills. I have already been awarded the XYZ award twice in my previous firm for projects I had undertaken. I have headed a project which increased organic traffic of our website by 5x.
Looking at my previous experience & achievements, I expect at least a 10-15% more hike than the package offered by you.

I know I can bring a great deal of value to XYZ Company and help you exceed your revenue expectations this year. Please let me know when we can discuss the salary further.

Regards, ABC

Negotiating a salary is an important step in the whole hiring process which needs to be given proper attention at the time of accepting an offer. With the right approach, it becomes much easier to negotiate a job offer.

Salary negotiation example face-to-face or by phone

Here is Example if you are negotiating face-to-face or via phone.

Thank you for sending over the job offer package for the Regional Sales Manager position. I am excited about the opportunity and would like to reiterate how grateful I am that you have considered me for this role. I believe in your product and know I could help you drive even greater results.

However, before I accept your offer, I want to address the proposed salary.

As I shared during the interview process, I have more than twelve years’ experience in sales including eight years of experience in medical equipment sales. I have two more years of management experience than stated in the job description. In my last role, my team exceeded the monthly quota by 15 percent for two years in a row and landed three of the largest accounts in company history.

Given my experience and expertise, I am seeking an annual salary in the range of INR 8,50,000 to INR 10,00,000. However, I am open to discussing alternative compensation such as increased performance-based bonuses.

Salary negotiation is a critical step in the hiring process. By taking the time to talk through why you feel you need more compensation, you can help employers better understand the value you provide. As with any new skill, the more you negotiate, the more you will improve and the easier it will become. By using the above tips to negotiate your salary, you can walk into the conversation confident, prepared and ready to secure the pay you deserve.

This is exactly what we intend to do with this blog. We hope this blog will help you negotiate well to get the desired package.

Best of luck!