Negotiating the salary is one of the most important parts when accepting a job offer. It sets a significant basis for our economic expectations in the coming years and can shape the course of our satisfaction as employees of a company. However, it is one of the most difficult tasks for a large part of people, and for the most varied reasons that can be found: feeling that they do not have the ability to negotiate, embarrassment or not spending enough time on it.
Not all sectors work in the same way. In areas where the supply of labor exceeds the demand of companies, these probably have a margin to control the salary range, and can discard whoever does not adapt to it. In other areas, unions negotiate salary ranges. However, in many other areas, the space is more flexible and even more so when it comes to difficult positions to fill or people that the company really liked and wants to hire at all costs.
Knowing how to play your cards right at this time is important. Here are some tips that will help you to be better positioned in the wage negotiation:
1. Study the market
Research how much other companies are paying for the work you offer or for the position you are looking for. Unfortunately, in Latin America, without updated and reliable tools like Glassdoor.com, this task is a bit more difficult. However, you can look for this information with family members, acquaintances, former colleagues, and try to determine the market's salary range.
2. Analyze your situation and that of the company
When negotiating, it is very important that you understand the needs, objectives, motivations and risks of both you and the company. Identify what you agree on, and what you don't. Analyze priorities on each side. Ask as necessary throughout the process to get the information you need.
3. Define and focus on your ideal salary, differentiate it from the minimum
You need to know how much you want to earn. If you can't answer this question, not only will you be poorly positioned when negotiating, but you will also lose consideration when getting the job. At each moment of the negotiation, do it with the ideal salary in mind and not with looking to be above the minimum you are willing to accept. Those who do, get better results.
4. What makes you have that value?
Not only is it important to define the price you have for a company, but also understand what knowledge, characteristics, and tools make you have that value. Because another company or the market is paying something similar is not a good enough reason. You must know the reasons, and moreover, be able to communicate them, explain them, defend them, and justify them.
5. How to answer the question about your current salary?
Does the company ask you what your current salary is? If the difference with your ideal and required salary is not wide, it's not a problem to share it. If the difference is higher, you have to be prepared to handle the answer. In the first case, you might try to answer directly with your desired salary. If the company insists, respond with the current salary and how you justify that difference. But do not become defensive. Simply justify what characteristics you have that make that your value in the market, and why the previous company was not paying it, such as they could be behind in wages in the last time.
6. Asking for a low salary does not help
Do you really need the position and are you willing to accept a lower salary than the market average? Putting a low price on yourself is not something that helps much. Companies will probably doubt your abilities and knowledge for the position they are looking for.
7. Start the negotiation above your ideal salary
It's true you're taking a risk, but when you start the negotiation you have to have a margin to give in. Not only to be able to develop a more friendly process with the other party, in which the good will of both is seen, but also at the end of the process it will give you greater satisfaction than getting the same salary at the first attempt without having to negotiate it. Have you ever gotten what you were looking for at the first attempt and felt like you could have gotten something more?
8. How to recover if you asked for too much?
Does the company say that your claim is higher than they can pay? Don't think that you're out of the race if this happened to you. Ask for the range they are willing to pay, and if there are additional benefits, since knowing the complete package you might consider the offer. If you get this information, ask for time to think about it and send a response. If you think it's really lower than your claims, study the market again to understand if the company is below average, or you exceeded your ambitions.
9. Look for creative alternatives to close the deal
Did the company say that it made the best possible offer, and it didn't meet your expectations but it's close? Think about negotiating extra benefits. Often it's easier to negotiate extra vacation days or home-office days, language classes or health insurance for the family instead of an extra % of salary. The best situation when negotiating, is knowing that you have other options to carry out the process with patience, calmness, professionalism and without fear of the result obtained.
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