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Tuesday, May 17, 2011

NEGOTIATING SALARY AT A JOB INTERVIEW

Studies have shown that a majority of employees abstain from negotiating their salaries before signing the offer letter. This disease, which experts call ‘Negotiating Impairment Syndrome’, affects most of us. NIS creates a mental block which renders you unable to negotiate your CTC, but at the same time, frustrates you no end at your own incapacity to stand up and complain against the guy who sits next to you and earns much more for doing much less

It is a serious ailment that affects even the most healthy-looking employee. Even worse, most employees are completely oblivious that they are suffering from it.

Five Common Reasons Why People Hesitate to Negotiate:

1. It is against my ethics.
2. Let me prove my worth first.
3. I need this offer badly, so I can afford to compromise.
4. What if negotiation backfires?
5. Currently I am unemployed and beggars can’t be choosers.

There is no measuring device that can tell the employee about his market value. The onus lies on him to find out what his worth is. And unlike other commodities, one can’t log onto the Internet to know his/her price tag. However, one must try to find out his real value by asking friends or friendly seniors to give their honest views. One must also find out what other organizations have been paying for the same position, and if need be, take professional help from a recruiting agency.

Before sitting down at the negotiation table, the candidate must know the limits of his position because many times an employer quotes a ballpark amount just to check how the candidate will respond.

Many types of evaluations will also help to find out the true value. Once the employee is sure that he can undertake some more responsibilities then he certainly deserves more. But it can be fruitful only when he takes an unbiased view of himself and weigh all pros and cons.

One executive said that in his first job he didn’t negotiate his salary because of lack of any negotiating skills. Later he found out about the compensation packages and what the organization has been offering to a person with his kind of skills, He negotiated this time with success. This only emphasizes the need to know own market value. The recruiter will always quote the lowest possible price tag for the incumbent’s expertise. Negotiating to convey that one knows his own worth and own price tag always helps in getting the right compensation.

Right Negotiation:

Like everything else, negotiating has two sides to it. Insisting on negotiating even when the organization is offering a decent package, then the employer-to-be might feel that all the candidate wants is money and that he is more of a mercenary rather that a dedicated worker. If whatever they offer is accepted then the message one might be conveying is that all he needs is a job, irrespective of his worth.

A positive aspect of negotiation is that the employee comes to know his worth; but on the negative front, the employee is perceived as a habitual negotiator if he continues to negotiate for a long time for no real reason. Conveying the point of view across the negotiation table gives a definite message. If negotiations are done in the right spirit and not aggressively, then it will be looked upon as positive, but if it appears pushy, it will not be appreciated.

Better compensation you can get when:

· You put in intensive research and get your facts right.
· You are not afraid because you have other options to choose from
· You are employed and are content with your current post.
· You are not seriously looking at hopping between jobs.

Negotiating salary is a tact or skill. One should always be able to justify his stand and support his point of view with valid arguments. However it is always better to take that bold step and ask for what one deserves instead of regretting later for what is not asked for.

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