When one is switching a job, negotiation skills play a very important role in how much you are going to earn. If done the right way, you can take away salary you always wished for. Below are the top tips to negotiate the right way!
1. Don’t reveal current salary
This the most common mistake that a job seeker makes and hiring managers takes a lot of advantage of this by giving you hike on your current salary instead of salary proportionate to your skills. So if your current employer used you by underpaying you that doesn’t mean your next employer can do the same. It is as similar as will they tell their other employee salaries in the same position?? Never.
*First of all, remove your current salary from all the job hosting sites* as employers can see them. Just set it to 0.
What to say when asked about your current salary?
*Ans*: Tell them your expectations. Just say I am looking for jobs in the range of $130K – $140k. If they insist, just tell it is something confidential and can be revealed after the offer.
2. Always say you have other offers
Irrespective of whether you have other offers or not, always tell them you are in talks with other companies also. If they ask about them just give them a brief like “ I am in talks with 2 other S&P 500 companies.” If they ask about the offers in hand, just say “ As my talks are confidential with you, in a similar way they are confidential with them.” This will put you in a better position to negotiate and will give you an upper hand.
3. Use R & R – Research and Range
When a hiring manager asks you about your expected salary always tell a range. To calculate the range first *Research* the salaries for your position and note down the average salary for your experience. Now let’s say your current salary is $90000 and you are expecting $120000 from your next job (and it is research range), then your range should be $125000 – $135000. Whatever you are expecting should be the minimum value of your range, because hiring managers will always give you close to minimum range. But make sure your range is within the salary research you have done.
I hope it helps.