How To Negotiate Salary? | Tips To Get Best Compensation Package
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- Опубликовано: 31 июл 2024
- In only 5 minutes, Sakshi Batra explains the top 5 tips on how to negotiate your salary package after getting a job offer or on your current job.
Timestamps:
00:01 Introduction
00:33 What is salary negotiation?
00:38 What is salary negotiation about?
00:44 Is salary negotiation difficult?
00:51 How many women negotiate their first salary?
01:12 How to negotiate the best compensation package?
01:15 Salary Negotiation Tip 1 - Know Your Value
01:23 Factors to consider while negotiating salary with HR
01:32 How to calculate your ideal salary package?
01:35 Where to go to calculate your salary?
01:48 Best way to find out ideal salary package
02:04 Salary Negotiation Tip 2 - Ask For Your Worth
02:52 Salary Negotiation Tip 3 - Be Careful, Firm & Polite
03:36 What to say when HR quotes budget when negotiating salary?
03:55 Salary Negotiation Tip 4 - Have A Strategy
04:26 Salary Negotiation Tip 5 - Look out for red flags
Introduction
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A typical conversation between interviewer and interviewee, while discussing salary negotiation and the mistakes we make when negotiating our salary.
What are some things to avoid saying while negotiating salary?
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Salary negotiation is all about what you deserve, not what you need. It can be a really stressful process. But you can't go wrong with the right approach to put your best foot foward!
Fun Fact! - A famous study revealed that only 7% of women negotiate their first salary as opposed to 57% of men. What stopped them? Fear!
Tip 1 - Know Your Value
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It's good to know your expected salary before you begin the negotiations. You must start by considering factors that will affect your pay. You can go to Glassdoor's - know your worth and dice.com to get an estimation of your market value. One of the best ways to know your market rate is to speak with as many people as you can to get to know what they are getting paid. After considering all factors come to a minimum range that you are ready to settle for and an aspirational package under your market value.
Tip 2 - Ask your worth without compromising likeability
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You must be wondering that the recruiters have already liked you which is why you are sitting for negotiations but ask them the relevance of your salary. It's crucial! Companies only increase your salary if they like you!
Tips to remember when negotiating salary with HR
1. Craft your sentences well when communicating your salary expectations.
1. Don't seem too opportunistic or uncompromising
2. Appear confident while staying firm on the basics
3. Have all your demands backed up by fair reasons
4. Do not hesitate to communicate
5. Prove to them that you will add value to them
Tip 3 - Be Careful, Firm & Polite
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You can't seem impatient, rude or even timid! Remember the deal has not been sealed yet! So, listen to all the points mentioned by HR and then put your points forward and counter their offer carefully. It is perfectly acceptable to say you need some time to think and get back. If you really love the job offered and are taking a pay cut to join, then verbalize it and leave room open for future salary hikes.
Tip 4 - Have A Strategy
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If the company has come back with a counteroffer that addresses your major concerns, then take it and do not haggle over minor things. Present your own counter offer if the company has failed to address your major concerns. Aim to land between your original offer and the companies first counter offer.
Tip 5 - Look for red flags
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It's okay to walk away from an offer if the HR is haggling over and over on your salary negotiation. Remember, it's a relationship and not a dictatorship!
Fun Fact! - Studies reveal the best day to negotiate salary is Thursday!
Conclusion
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Go on! Say Yes to that job offer only if it matches your expectations and only if it is worth it!
Factors to consider during your salary negotiation:
1. Experience & Skills
2. Job Description
3. Market Value
4. Industry standards
5. Cost of living
6. Relocation
Here Is How To Negotiate The Best Compensation Package Every Single Time - koolkanya.com/blogs/career/le...
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Thanks for these tips
Do a video on "how to negotiate salary having career break" thanks in advance
This is great
Thank you Cool Kanya.. 😀
Very nicely explained 👏
Thank you 🙂
Nice explanation with ease 👍
This motivates us so much :D
Hello, all the women watching this video,
Could you please help me,
Are we able to again negotiate with Company A after signing an offer letter with company A and later getting a good offer from company B?
Is it good way to negotiate salary? Could you suggest me
Upon various domains and information that I got for technology analyst from glass door and guide star. I'm expecting 8.25lpa as fixed salary.It is negotiable and variable pay I will agree with company norms.
Damn, I just negotiated on Thursday, yet to hear back though.
Also, how long should I wait to hear back from them?
❤