The journey of finding a job has (almost) come to an end and you can already see yourself signing the contract and sitting in your new office? But before that prepare for salary negotiations, something dreaded by many.
So what are the do’s and dont’s of compensation negotiations?
On the top of the list – in terms of fears of candidates: that they quote too little.
Here are some more:
We already wrote about this topic here. Though as salary negotiations are immensely important there can’t be too much information on it, hence a summary of a valuable article on how to go about this delicate subject: “The Ins & Outs of Executive Compensation Negotiation” by BlueSteps.
The 3 pieces of advice that we liked the most are as follows:
– ask: according to BlueSteps only one third of candidates even start negotiating. Remember that there is nothing wrong in wanting to be compensated for your skills and experience accordingly. So, before giving your number, remember: nothing ventured, nothing gained!
– be strategic: the article calls it the “the serve vs. counter-serve technique”. It means that you shouldn’t give the number first but rather you should wait for the organization’s offer to which you can then respond with a clear number in mind and explaining your view on the subject.
– be flexible: on the other hand, don’t become completely fixated on the numbers. It’s always good to consider the total package, not just the cash component: maybe the company has other great benefits, e.g. vacation time or learning opportunities?
– be patient: to quote the article “a trait which is increasingly in short supply nowadays! You cannot push a hiring manager into quick decisions. You need to go with the flow. Similarly, take your time once you receive the offer so that you can give a data-backed, well-informed response rather than a quick, impulsive reply so as to avoid later regretting the inevitable omissions from your haste.”
To read the full article, click here.
Are you getting read for salary negotiations? Would you like to discuss your strategy confidentially with a Career Angel? Send an email to Bichl.Sandra (at) CareerAngels.eu or request a consultation by clicking here.
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