what to do when your current salary is higher than the job you interview for
There are many means that a company tin become nearly recognising the piece of work of its employees. It tin can be done in the course of promotions or fifty-fifty special rewards for jobs well done. And while these are certainly welcoming from an employee'due south point of view, nearly of them will also agree that, when information technology comes to recognition, few things mean more a pay raise.
Increasing your professional income is also vital for your career advancement and progression when and if you decide to move on to another office, whether it is in the same company or not.
Alee, we volition explore how employees and chore seekers akin can evaluate their worth as contributors to the company, likewise equally how they tin can negotiate for the salary they deserve, be it during task offers or at almanac appraisals.
Learning to exist a negotiator
Not everyone is a built-in negotiator. Just like how price-bargaining is an acquired skill, successful negotiation, too, requires a very different mindset. Most candidates practise not exercise enough when it comes to negotiating for a higher salary.
Obviously, the outset rule when you go into a salary give-and-take is to never settle for the first bacon amount put on the table. Alee, some of the following tips and tricks to become a college salary.
ane. Do your homework
Just because the salary offer feels like it is plenty to embrace your expenses doesn't necessarily mean that it is the market place average. As such, information technology is critical to do your market research and know what your role is worth earlier you step into an interview and negotiate for a higher salary.
One way to do then is via our Salary Comparison Tool, which gives a comprehensive overview of all major sectors in various markets, the key roles and functions involved, besides as their corresponding salary estimates. This will allow you to calculate the boilerplate salary range based on your sector, location and work experience. This salary tool is updated every year to reflect electric current industry norms and average salaries in the current market.
If that is not plenty, you lot can accept your enquiry a step further by just talking to people in the know. It could be someone already in the manufacture or even a recruitment consultant who can give yous the latest updates. With all the research gathered, you would exist able to enter a salary negotiation with a lot more confidence.
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ii. Know your value
Your value to the organization is sometimes more than just the position that yous are applying for. For instance, if you are applying for the role of a marketing director with 20 years of experience already under your belt, you are going to be able to command a certain amount of bacon.
However, if y'all are applying for the aforementioned role with the aforementioned manufacture experience, but with added bonuses of entrepreneurial background and experience in Search Engine Optimisation and social media marketing, you are going to be bringing a lot of extra skill sets and value to the tabular array.
Furthermore, if you know for a fact that the company you lot are applying for does not have, say, an SEO-driven content marketing strategy, and so your knowledge in that area is suddenly going to be worth a whole lot more.
As yous can see, even though the job titles are the aforementioned, the divergence in the job description can be quite stark. These peripheral skills you lot take developed over the years will allow you to accept the manufacture standard when it comes to salary and increase it. It is also always a good idea to familiarise yourself with the industry, find out the most in-need skills and bank on those during your negotiation.
three. Ignore your previous salary
One mistake that many job candidates make is to base of operations your salary negotiations on your last drawn bacon. While it is e'er better to earn more than your previous job, using your last drawn bacon as a yardstick is by no means a practiced gauge.
Unless y'all feel that you accept gained zero skill since your concluding job, ignore your previous salary altogether. Instead, look at your objective value to the visitor and compare that to the industry standard that everybody else is getting.
It is also not uncommon for job descriptions to require candidates to submit their previous salaries. It is a expert idea to ignore that or reserve the word for the interview itself. Revealing the amount even earlier the interview volition put you at a great disadvantage.
Should you lot reveal your current or latest salary?
If you are applying for a new job and the hiring manager or recruiter asks for your current or latest salary, reply with something similar, "I'd similar to find out more about the position and the responsibilities, what the team's like and the company culture earlier discussing bacon. In whatever case, since y'all mention, may I ask what is the salary range you're because for this position?"
Whether they give you a number that is slightly lower than what you lot take in mind, let them know and say that you would even so similar to learn more about the office. After that, yous tin can demonstrate how your skills would make you lot a valuable employee and then piece of work on salary negotiation when you got the job offer.
However, if the salary range is way lower than what y'all take in listen, ask the hiring director if the amount can be adjusted for the right rent. If the company has a stock-still budget that tin can't go higher, it would be all-time to decline the interview and move on.
At some betoken, you would accept to share your current salary number. Whether working with an MNC or local company, many employers request the terminal fatigued bacon earlier beingness able to go approval for the rent. This serves as justification for the proposed offer and is often a set part of the administration process.
Related: How to make a successful career change
4. Think beyond your base salary
If the company cannot offering you a higher salary, y'all can besides detect out what are the KPIs to reach in the adjacent half-dozen months and ask the hiring manager or your current manager if your salary tin be reviewed in the months alee at that point.
Also, calling it 'salary negotiation' is, admittedly, not authentic, since y'all are actually negotiating more than just the base dollar value. Aside from the base salary, you are looking at the basic benefits that come along with your employment.
Benefits package
For case, the salary on offer might be lower than the value you lot have in your head. However, the benefits that come up forth with the salary might really exist attractive and more than compensate for the balance. As a chore applicant, you want to take these additional benefits into consideration when negotiating for a raise.
If the salary on offer isn't plenty, perhaps you tin can negotiate for other benefits in your compensation packet, such as better wellness plans, flexible piece of work arrangements, additional exit, training opportunities, etc. And while nosotros are on the point, don't exist limited by your imagination.
There are plenty of benefits beyond the conventional, from tuition aid to free java. Only think: this is a business organization transaction, and everything is negotiable.
Related: How you can be highly effective in a role from day 1
5. Hope for the best, but expect the worst
During bacon negotiations, a good idea is to give an corporeality on the higher stop and work your mode down from there. If the higher offer is accepted, then information technology is good news for everybody. If it is rejected, arrange accordingly and effort again. Subsequently all, what's the worst affair that could happen?
Rejection just means you lot need to recalibrate and renegotiate, and if the company cannot appreciate what you tin potentially bring to the table, at least you know to take your expertise someplace else.
Remember: if yous don't ask for a pay raise, you lot are likely not going to become information technology; if you do ask for a pay heighten, there is at least a run a risk that you might only go ane.
No real guarantees in bacon negotiations
At the end of the twenty-four hours, there are no real guarantees in bacon negotiations. Beyond the value you lot can potentially bring to the visitor, there are many considerations to be had from the employer, 60 minutes point of view and also factors, such as tight budgets and even tighter competition.
With that said, if yous don't even endeavour salary negotiation, then you are doing yourself a swell disservice in the long run. So do your research, enter a negotiation and take the conversation on from in that location.
Ready for your next career move? Look through our job portal or submit your CV.
Read more:
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Source: https://www.michaelpage.co.id/advice/career-advice/salary-and-negotiation/how-negotiate-higher-salary
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