Five Best ways to Negotiate Your Salary in Poor Job Market

How can you leave your job get affected by market slowdown? You were planning to switch your job, but limping economy somewhere greatly affected your dreams and what you highly suffered was in the salary offered. Recessionary phases are hard for private sector corporates to cope up; hence they adopt all means to curtail additional cost of the organization. Even employee hiring goes minimal, in such a scenario offering higher salary package is like committing a sin. But you need not to get disheartened, if you are looking for better salary offers, all you need to do is to navigate through below mentioned points, to never fail in the negotiation process.

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Tips to remember

Before mentioning the salary package in your “expected cost to company” section you need to do some good research. Well giving a number too low can leave you losing thousands and something higher is like overpricing your skills which the organization would never wish to purchase. Therefore you need to find a midway.

Market Research: – What essentially you need to do is to analyze the market scenario. Study the market rate offered by the companies for the type of job you are pursuing. There are many online sites that can help you through the process. Bigger companies have certain salary spectrum beyond which it will be difficult to bag an opportunity, whereas smaller companies have less formalized structures. Usually what they sell is their brand value and prefers hiring candidates at the average salary and nothing beyond.

What if your present salary is less than average salary in the market? Such chances are possible when you are working with the organization for long time and there were only modest increments done. In such situation chances of getting better salary from new organization are slim. Therefore you have to sagaciously explain them that why you worth an additional cost.

Don’t underestimate yourself: – Don’t go by whatever your hiring managers say. HR team people have targets to hire employees at low cost; therefore they attempt to accomplish their set goals. But you need to be cautious and don’t fall for the trap. Negotiate to an extent so that the deal remains in your favor and accept the minimum you are willing settle for.

Carry Your Documents: – Most important thing is to carry your document along. Usually organizations tend to negotiate salary only after reviewing salary slips of the employee with previous organization. If you don’t carry it, it can be a well-heeled deal for the organization.

Are you ready to take risk: – This is fun at the same time you are taking calculated risk while gauging how much the organization is keen to hire you. Once you are through with your interview, there is no denying to the fact the people in the organization have really liked your profile, the chances for you negotiating for better salary package are indeed high. All you have to do is to make them realize that this is hiring is not only important for you but also for them.

Say “Yes” to the Offer: – You need a job, you are trying hard to negotiate, to an extent you succeeded and the companies ask you for your “acceptance”. Always say yes. It’s not necessary that you have to take up the job but saying yes then and there at least keeps you on the safe track. Never ever say no at the moment.  All you can do is asking for later joining date so that meanwhile you can appear for other interviews and can compare which opportunity suits you more, in fact pays you more.

Subhadra Bhadauria

Subhadra Bhadauria is an ardent writer with leading job site naukri.com. She is a regular blogger and relishes writing. She writes about what to mention in your resume and how to negotiate salary when economic slowdown.

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