Based on the survey done by CareerBuilder, the biggest job portal in USA, 49% of job candidates do not prefer negotiating their starting salaries. The reason is clear – being just beginners they have no idea about 1) whether they should negotiate the salary or not, and 2) what’s the proper way of negotiating it. However, candidates, who’re really concerned about their career, tend to give more priority to additional perks they’re supposed to avail than salary, whereas most of the candidates believe they might have to lose the offer if they negotiate.
Nevertheless, in many cases it’s been seen that job candidates, who choose to negotiate their salary and do it quite effectively, are regarded as front-runners in their job career. So salary negotiation is an art and every candidate should learn this. Read on to know the 10 common, yet serious salary negotiation mistakes candidates often commit, and prepare yourself to earn that 5% raise which is really important.
Lack of Preparation
Salary negotiation is really crucial since it helps earn a substantial amount of money only at the cost of a few resourceful statements. All it takes is a good preparation at home in advance. You need to research the current package system within the niche and a little in other sectors as well. This way you can pre-estimate the salary you’re really worth. A thorough preparation can also help answer in case you got a show-cause call from your interviewer any time mid-interview.
Negotiating Before the Offer
It’s wise to stay mute on your salary topic as long as the recruiter doesn’t say anything about the offer. Remember, almost all interviewers (except a very few gentlemen) prefer to proceed along the same path and they naturally ask you about your salary immediately after thinking to hire you. So your turn will surely come, wait for it.
Trusting Online Salary Sites
There are a great number of salary websites available online. But not all of those are for you, and in fact, a majority of those sites are untrustworthy. If you are thinking to negotiate your salary simply based on the ranges mentioned on online salary sites, you would only be kidding with yourself in the interview since most of those job posts and salary ranges seem to have no connection with yours. Better discuss with the people in your field if possible.
Mentioning Salary on Cover Letter
It’s totally unprofessional to mention your salary history either on the cover letter or on the resume. You know, you would be hired and paid based on your skills and proper work experience. There is no point to talk about money only at the preliminary stage. This sort of thing can simply put the chances of your offer in jeopardy. Stay out of it.
Citing Financial Needs
You can never tell a reason like your liabilities, the debt, or any other personal need for which you are negotiating your salary. Although every professional candidate understands this fact, still some fellows have been found quoting these unnecessary reasons in interviews. This is a mistake and you should never commit it.
Procrastinating to Respond
Asking for 10 days or more to consider an offer is simply illogical. Recruiters generally give you sufficient time to consider the job offer and join the company. If you want more than that just because you are likely to get calls from other companies, it makes your employer feel bad about you. It raises questions about your abilities and responsibilities. Moreover, if you’ve got to complete some work, try to complete it within the time period given by your employer.
Underestimating Other Benefits
It’s not only salary what you avail from an organization. All cutting-edge companies are providing extra benefits like paid leave, retirement contributions, healthcare etc. You need to take all these into account while thinking about negotiation. Remember, it’s not how much you make, but how much you gain which matters.
Not Considering Happiness
No matter how much your salary is, it’s all worthless if your job kills your smile. True happiness is what we all seek and struggle for in life. If your job is a real pleasure that gives you utmost comfort and satisfaction, you can stick to it even if it doesn’t pay you huge. So consider happiness as an important factor before you negotiate your salary.
Following Bad & Older Advice
During your Grandpa’s days all candidates were probably being taught to delay the salary conversation, refuse to tell a particular figure or a range or something similar to this. But in the current generation, they are considered as bad advices. By asking about your salary your employer literally wants to know how much you expect from the company, so tell it.
This is possibly the worst mistake in your interview. Feeling shy and reserved while talking about salary can not only make you become a low-paid employee, but it certainly affects your entire performance during the interview. So try negotiating (if there’s any scope of doing it) even if you’re not the craftiest in it. However, it’s advised to learn effective negotiating tactics in your job life.