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Brand/Business
To get the best of salary
negotiations, it is vital to have the knowledge of some helpful tips to guide
your future salary negotiations, so that you can get the best out of it and be
satisfied with the results. Jumia Travel, the leading online travel agency,
shares 4 helpful tips for salary negotiations.
Know
what benchmarking is
You should understand how
employers decide their salary levels and use that information to guide your
salary negotiations. Companies don’t just use arbitrary salary ranges for
employees, they use a variety of benchmarking tools for this. They typically
compare pay rates with the average pay of other companies in their industry,
average pay of professionals with your level of experience and education, and
the average pay of professionals in your field in their area of the country.
You should try as much as possible to know the ‘salary norm’ in the industry of
your job search and negotiate effectively within that range.
Do
your research
To successfully negotiate
your salary, you need to have some basic and very necessary knowledge to guide
your negotiations. Research is the most important way, if not the only way, to
get this knowledge. Asking questions, talking to recruiters, people you know
and professionals in your field and on your professional level, can you help
you get the needed information for salary negotiations. Even if you don’t get
an exact figure, you will at least get a range.
Pick
the top range
After doing your research
well, you would most likely get a range of what an employee in your industry
and at your professional level should be earning. It might be tempting to start
your negotiations at the middle of the range (to appear modest) but don’t. It’s
better to start from the top of the range because firstly, you should believe
you deserve top pay, and secondly, the employer will almost certainly negotiate
down. So, starting your negotiations from the top of the range will give you
some breathing room and a better chance to end up with a salary you will be
satisfied with.
Practice
for it
Practicing for a
prospective salary negotiation scenario is one of the best ways to prepare for
it and to eventually get the results you desire. A career coach can help with
this. However, if you are unable to find one, you can ask a friend or relative
with experience in salary negotiations for help. Practicing for salary
negotiations helps you to develop the confidence to negotiate and talk about
money without being so scared of making a mistake and messing it all up.
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