| Here is a Salary Negotiation Example |
time to time. You this type of bargaining when you apply for a new job,
offer a promotion, or apply for a new job with your current employer.
To be successful in your salary negotiation, follow these steps:
1- Prepare: Find you the real market value for your skills in the
employment market. The employment ads in news papers might
advertise the salary for a similar job.
2- Plan your negotiation strategy: As with any other negotiation, you
need to prepare and decide on your negotiation technique for the salary
bargaining.
3- You need to consider the Win-Win negotiation strategy. This is
because you want a long term relationship with the employer you are
negotiating your salary with.
4- Set the scene for the negotiation
Remember the three items that affect any negotiation:
* Power
* Information
* Time
If you are unemployed and you have the time pressure to pay some
debt, your negotiation power will be weak. If the person bargaining your
salary is the head of the company, eg. Managing Director, you can get
the final salary offer within one or two sessions. The Information in
terms of your education, skills and industry knowledge will play a big
role in your salary negotiation.
5- Let the negotiations begin:
* Don’t accept the first offer. It is usually lower than what the employer
has in mind to pay you and has some space for more perks.
* Think of the complete package. Don’t focus on the cash part. The
extra benefits on top of the basic salary always make the difference. If
you have done you research, you would know what your peer would get
for the same position. The bonus opportunity, profit sharing, stock
options, benefit plans, and vacation period will make a difference in the
salary negotiation.
* Don’t suggest the salary. Let the employer do that first.
* State what you really earn currently if your think the new employer
knows. However, don’t lie about it. Conceal it if you can, though.
*Have another offer from another employer. This puts you in the power
seat of negotiation.
6- Close the Deal:
Once you are satisfied, close the deal and ask for the offer in writing…in
a very polite way “when should I expect your offer please.”
Return to the Negotiation Skills from the Salary Negotiation Page
offer a promotion, or apply for a new job with your current employer.
To be successful in your salary negotiation, follow these steps:
1- Prepare: Find you the real market value for your skills in the
employment market. The employment ads in news papers might
advertise the salary for a similar job.
2- Plan your negotiation strategy: As with any other negotiation, you
need to prepare and decide on your negotiation technique for the salary
bargaining.
3- You need to consider the Win-Win negotiation strategy. This is
because you want a long term relationship with the employer you are
negotiating your salary with.
4- Set the scene for the negotiation
Remember the three items that affect any negotiation:
* Power
* Information
* Time
If you are unemployed and you have the time pressure to pay some
debt, your negotiation power will be weak. If the person bargaining your
salary is the head of the company, eg. Managing Director, you can get
the final salary offer within one or two sessions. The Information in
terms of your education, skills and industry knowledge will play a big
role in your salary negotiation.
5- Let the negotiations begin:
* Don’t accept the first offer. It is usually lower than what the employer
has in mind to pay you and has some space for more perks.
* Think of the complete package. Don’t focus on the cash part. The
extra benefits on top of the basic salary always make the difference. If
you have done you research, you would know what your peer would get
for the same position. The bonus opportunity, profit sharing, stock
options, benefit plans, and vacation period will make a difference in the
salary negotiation.
* Don’t suggest the salary. Let the employer do that first.
* State what you really earn currently if your think the new employer
knows. However, don’t lie about it. Conceal it if you can, though.
*Have another offer from another employer. This puts you in the power
seat of negotiation.
6- Close the Deal:
Once you are satisfied, close the deal and ask for the offer in writing…in
a very polite way “when should I expect your offer please.”
Return to the Negotiation Skills from the Salary Negotiation Page
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