It is important to negotiate your starting salary well

It happens almost all the time: The starting salary for your career is not what you thought it would be. You may notice that your classmate or friend got higher than you did, only because she played her bargain card well. So, how do you negotiate a good salary?

Know what the industry standard is

This is the most important aspect of what decides a starting pay. Although many companies deny this; there is some kind of rigid and immutable “industry standard”. This makes too much negotiation a stiff task. Even though there are pay bands for different positions, there are limits to bargaining. You will generally be on a tight leash, but with whatever opportunity you have for bargaining, try your best.

Impress with what you can give the company

Obviously, any organization is a business; it primarily looks for what it isgoing to get from investing on a resource;what and how you are going to gain from it is secondary. When it gets convinced that investing on you is a good idea; it doesn’t mind offering you the best possible pay cut. At the time of the interview, work out a plan for the organization and tell them what hiring you will bring them. Tell them about your creative ideas and how they can contribute to the company’s bottom line. This should set the tone for the ensuing negotiation.

Blackmail, but decently!

Sometimes, it helps to have another offer on hand, which can be used as some kind of bargaining chip. However, remember not to stretch them too far with this offer, because it might turn them off. Offer them a range that matches the one you have on hand and start negotiating. Be a little flexible, and be prepared to accept perks if not a great salary alone. You could also talk to them about how you are going to rise in your career pay-wise. That is, you could start with a relatively lesser pay, but could climb the ladder faster, and pay could increase much quickly than in companies that offer a higher starting pay but slacken the pay increase.

Assess properly

It is important for an aspirant of a new career to understand whether that company is niggardly or generous in its pay. This is very important, because it helps you be realistic in your expectation. When you have a good sense of reality; it is difficult to get disappointed. When you are not; it could happen that you are fine with every aspect of the company except the pay. This is a grouse you are likely to carry for a long time with the organization.

Reference:

http://jobsearch.about.com/b/2012/07/12/how-to-negotiate-salary.htm

http://www.askmen.com/money/career_100/141_career.html

 

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