Every interview goes differently as the candidate and interview board differ in skills, and different schools of thought, and their requirements, and expectations also vary per candidate. But in a hiring process or at an interview table, some fundamental steps will stay the same for everyone.
While preparing for other required skill sets for a particular job place, you must be ready with How you will negotiate salary in a job interview. After all, this is the turning point in securing your position where either you can end up with a lower unsatisfying salary or lose the opportunity due to silly avoidable mistakes. So for this crucial turn, you should be conscious and diplomatic about your answers.
Why negotiating Salary seems to be a terrifying task?
In a recent survey of Salary.com, it has been seen that about 48% of candidates become anxious even to discuss their salary, and 38% of experienced people sometimes feel fear. Why is this topic itself daunting?
Because in our competitive environment, you may feel the pressure of other candidates as the interviewers often ask ‘ Why do you think we should choose you over the other candidates with the same skill sets ?’
One might also be so shy that he thinks if he asks for a raise, he will look greedy, so they accept the first number offered by the interview board. Therefore, they end up not being satisfied with their job role and are frustrated.
Except for these old-school problems, people also hesitate when they ask for their desired salary early in the hiring process in the online hiring process. Many also feel discomfort dealing with compensation over mail.
Here in this article, we will try to cover all the problems related to ‘How you can negotiate salary in a job interview?’ Utilizing all the given tips you will feel more confident and self-driven to secure your place.
Tips for standing out in the negotiation for your Salary
1. Bring up Your strength wisely
The interviewer’s keen eyes stay on your skills and strengths and how they are beneficial for the company. So you must make your list and concise notes on how and in which sectors you will help the companies progress. Suppose in a negotiation phase they are offering you ‘X’ amount and you are willing for ‘Y’ so here you can politely bring out your strengths like –
- If you have any higher degrees, skills, or certifications, mention them and how they are making you a better choice than others.
- You can share your experience of working in other companies. Like, you have played a major role in any project or have a record of cracking any deal in your previous job. For a candidate who has more than 5 years of experience, it is a must-do thing. They can evaluate and bring it up when needed, how their industry experience can offer minute benefits for an employer.
- Sometimes in a Job post, if you meet the higher or preferred requirements like any special certifications, higher degrees like a Ph.D., or MBA or they need 3-5 years of experience candidate and you meet the higher set. In this scenario, you subtly tell them that you are a better fit.
2. Strong Research
- ‘What is your salary expectation?‘ is a very common question your recruiter might ask you. You might bluff or ask for too much money if you don’t have a firm price in mind. To avoid such a situation whenever you go for any new job, do your research about the salary range for your job title, location, and industry. Good research can give you confidence that the price you’re discussing is reasonable.
- While researching your current industry standards it’s also essential that you
research the company’s financial stability, What kind of salary package they offer.
A company’s stock value and market capture determine how much it can invest
in its employees. So, you must also conduct research on the company to ensure
that they will be able to match your desired amount.
3. Right time to bring off the discussion
It’s the all-time rule that lets your interviewer bring off this topic. If the topic comes up during the last phase of your recruitment process then you are on the right track as the employer has already made up their mind about your pick.
Never make your first move to know what will be your salary, even if in any scenario you want to, then don’t do it in the initial phase only after knowing well the company’s requirements you ask for it.
If they ask you early in the process ‘ What is your preferred Salary?’ You can counter this question by saying ‘ I would like to know about the job role in detail and much about the company’s work culture. Can you give me the salary range this company offers for my job position?’
4. Give a salary range not a number
You can have a fixed desired number that you would like to gain from your new job in mind. However, never put that number forward when asking for it; instead, mention a salary range that is ideal based on your specific research.
Even if they ask for a particular number over which you will be comfortable to work, give your salary range from that mention a number that is a little higher than your goal so that even if they negotiate to bring it down you meet your aimed number.
5. Choice of the word and your voice pith reflects your confidence
In the interview process for achieving what you deserve, you have to mention many times your skill sets and qualities like if you have experience leading many teams. In doing so there is a thin line between sounding arrogant and confident. So your tone and choice of words are vital. Be diplomatic but polite and only emphasize skills you are really good at but never fake. Because when you are faking it impacts your confidence and your employer finds you as an overhype candidate.
6. Practice your pitch
For perfect and smooth wording practice is the key. With any trusted friend or colleague, you can practice for these tricky questions so that in a real interview, when you face those questionnaires you stay calm and reply smartly.
You are also advised to pay close attention while you are being interviewed because it is a test of mental alertness. When you understand what they are wanting you react accordingly.
7. Consider other perks and Benefits
Don’t negotiate on the numbers more than twice if the board is not prepared or unable to provide your actual desired amount. Now move on to the other perks, and benefits the company is offering like bonds, stock-shares, holidays, flexible working hours or work-from-home facilities, performance-based bonuses, etc. If you are getting excellent side benefits and a light workload you can accept the offer as overall it will meet your desired point.
8. Generously reject
Sometimes a company you are willing to do doesn’t match your salary expectation. If you want that job for other reasons even though they are paying you low you can do that. Otherwise, you can return the offer letter graciously. You could, for instance, say, ‘ Thank you for your offer. Unfortunately, I won’t be satisfied with this pay for my job role at this point in my career. Thank you for investing your valuable time in me. I hope you successfully find the right candidate soon.’
Even if you don’t like the offer and decline it, show your gratitude to keep open the door for future opportunities and networking. Always explain humbly why you are not accepting the offer.
9. Avoid silly mistakes during the negotiation
With the most deserved candidate also this could happen. They make some avoidable mistakes that end up not being a suitable candidate.
- While answering the question ‘ Why are you willing to leave your previous company to join us ?’ Don’t ever say you are joining here because of a hike in your salary to the previous one. It will make you seem greedy and that you are here just to increase your pay but not for adding any value. Instead, you say ‘ I was in ‘x’ company for 3 consecutive years and played the same role. Now it has become monotonous for me. I’m looking for new opportunities that your company is offering so I’m very excited to grab this.
- Saying a higher salary range than the actual market value. So be careful with your research.
- Of Course, it is preferable that your interviewer brings up the salary question first but either don’t want to not discuss it until the final offer letter. As the whole process is time taking and energy-consuming for both ends, many startups ask you about the salary expectation during the first few phone calls. But an established company with an HR manager might hang the question until the final offer letter. Knowing a little bit about how much they are allocating for your position is also important so won’t disappoint in the end. In this case, after 2 or 3 rounds of meetings, you can bring it up first politely by asking ‘ what is your preferred pay range this company allocates for this position?’
Hope, the fundamentals of Salary negotiation are clear now and you are feeling more confident to show your worth. Always keep one thing in mind: your goal should be providing value for a fair gain. It’s not the place to demonstrate your inflated self-confidence, but rather to comprehend your employer’s psychology and behave in line with it. Be careful because this short conversation about pay will determine how healthy your work life is. Best wishes for your upcoming interview, and I know following the above advice you gonna have the best results.
[ Also Checkout: Best Answer for “Reason for Job Change” Interview Question ]
Frequently Asked Questions
It is the rarest scenario where you are losing a job offer while negotiating. It happens only due to the use of bad negotiation strategies. Though job seekers got nervous about this, most of the negotiations ended smoothly. As most companies don’t reveal their allocated pay at an early stage it’s a normal process for a candidate to negotiate because his expectations could differ.
If you have been underpaid in your previous company due to a lack of knowledge of salary scale or for other reasons don’t have an impact on this offer. How you are eligible for the job role is the major factor in negotiating. Though some companies ask for your last job pay scale it is not illegal to do so to the government’s new rules
If your recruiter is offering too low an amount that is even below the lowest market range for that role, tell them subtly what you are willing for and why. If they are not ready to raise the salary amount, try to negotiate on other perks like company stock, work flexibility, vacation, starting day of your job, etc. Even to that extent, if they can’t meet your expectations then reconsider the offer and make a decision whether the job offer is worth your ‘yes’ or not.
It is always advantageous to negotiate your salary on interview rounds or over phone calls than email. It is advised to conduct your negotiation conversation over the phone if you do not have the chance to hold an in-person interview because it gives you more opportunities for back-and-forth discussions. Here, you have the opportunity to see each other’s perspectives and to offer counterarguments.