{"id":21,"date":"2020-10-23T13:22:27","date_gmt":"2020-10-23T13:22:27","guid":{"rendered":"http:\/\/resumade.ind.in\/blog\/?p=21"},"modified":"2020-10-23T13:22:27","modified_gmt":"2020-10-23T13:22:27","slug":"salary-negotiation-how-to-pitch-for-a-salary-of-your-dreams-a-guide-towards-getting-the-salary-you-desire","status":"publish","type":"post","link":"https:\/\/resumade.ind.in\/blog\/?p=21","title":{"rendered":"Salary Negotiation &#8211; How to pitch for a salary of your dreams- A guide towards getting the salary you desire."},"content":{"rendered":"\n<p>Just like you, there are a whole lot of people\nwho are looking for a good raise in their salaries, but don&#8217;t know how to go\nabout it.&nbsp; Many people are afraid to\nnegotiate or don&#8217;t know what to expect. A lot of people just accept the salary\noffered to them without even trying to negotiate. This is mainly because you\ndon&#8217;t know your worth, or feel your competition is better than you, which in\nreality may not be true.&nbsp; Remember &#8220;All\nthat glitters is not gold&#8221;.<\/p>\n\n\n\n<p>The first step you need to take to protect\nyourself from being underpaid is to <strong><em>Understand Your Market Value and the Market\nRate of the Job Skill That You Are Looking For.<\/em><\/strong> Finding the market rate\nof the desired Job can be found easily by having a quick web search, you could\nlook it up on reliable portals such as LinkedIn, Glassdoor or PayScale and have\na fair idea about the salary benchmarks of a particular sector or jobs.<\/p>\n\n\n\n<p>To find your market value all you need to do\nis understand your core competencies like your strengths, skills and knowledge\nthat may help you have an edge over others. <\/p>\n\n\n\n<p>There are 3 ways through which the employers\ndetermine salaries:<\/p>\n\n\n\n<ul><li><strong><em>Individual\nEquity:<\/em><\/strong> This is based on your strengths,\nknowledge skills, qualifications and your unique talents through which you\ncould add value to the organization. <\/li><\/ul>\n\n\n\n<p>This is where you\nhave the advantage in negotiation.<\/p>\n\n\n\n<ul><li><strong><em>External Equity:\n<\/em><\/strong>This is based on the market rate of the\nparticular sector. The value other organizations would pay to a certain\ncandidate for a particular job. <\/li><li><strong><em>Internal Equity:\n<\/em><\/strong>This is based on the fair pay policy of the\norganization internally. The co-workers are paid similarly in order to promote\nequality amongst all employees.<\/li><\/ul>\n\n\n\n<p>The Human Resources determine your salary based\non these 3 factors. <\/p>\n\n\n\n<p><strong>Tips\nto Salary Negotiation <\/strong><\/p>\n\n\n\n<ul><li><strong><em>Understand your\nsalary requirements: <\/em><\/strong>Determine minimum salary\nneeded to meet your financial obligations and the ideal salary needed for a\ndesired lifestyle. Moreover you also need to have a realistic idea about the\nmarket Pay or market value of your desired job.&nbsp;\nThis will help you have an accurate figure in your mind to your ideal\nexpected salary<\/li><li><strong><em>Consider\nbenefits and bonuses: <\/em><\/strong>Statistically 30% of\nyour salary is from the benefits package. Hence it is very important to look\ncarefully in ur benefits package, the benefits may include: retirement,\ngratuity, medical insurance, bonus, housing allowance etc. A lot of times the\nsalary offered becomes more lucrative due to these benefits. <\/li><\/ul>\n\n\n\n<p><strong><em>Negotiating your salary:<\/em><\/strong><\/p>\n\n\n\n<p>The most important aspect while starting your\nnegotiation conversation would be to start with a strong position. Here you pay\nattention to your individual equity and highlight your strengths and skills, and\nnew ways through which you could contribute to the offered role. Your strengths\nmay include any additional courses you might have taken up, extra knowledge\nneeded for a particular job, a good experience in a particular segment and a\nprofessional network that would add additional value to the job and grow the\nbusiness or your certificates showing your achievements at your previous job. <\/p>\n\n\n\n<p>Before you start your negotiating pitch, be\nprepared with a small exercise, examine and list down your skills, knowledge\nand qualifications. Some of these three attributes may meet the expectations\nwhile some may exceed the expectations of the employer or the job role. In my\nopinion, plan your pitch emphasizing on the attributes that exceed the\nexpectations, this could give you an upper hand in negotiating your salary.\nHighlight your accomplishments that would have a positive impact on adding an\noverall value you bring to the company. <\/p>\n\n\n\n<p>I know some of you might be thinking all\nalong, you are a fresher and none of these ways would help you showcase your\nstrengths. But a college graduate also has ways to highlight his\/her strengths.\nYou need to show your zest to learn and enthusiasm to give in your 100% at the\njob, you may talk about the projects undertaken at college, show your in-depth\nknowledge in areas concerning the job. Most importantly put your best foot\nforward while negotiating and be confident in your approach.<\/p>\n\n\n\n<p>Ultimately once you have negotiated well and\nwhen finally things start working in your favor, it&#8217;s normal to jump with joy,\nbut hold on, review that offer carefully for all you know, you might find ways\nto ask for more. If not so, go ahead and sign up, you surely deserve it! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just like you, there are a whole lot of people who are looking for a good raise in their salaries, but don&#8217;t know how to go about it.&nbsp; Many people are afraid to negotiate or don&#8217;t know what to expect. A lot of people just accept the salary offered to them without even trying to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":22,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/resumade.ind.in\/blog\/index.php?rest_route=\/wp\/v2\/posts\/21"}],"collection":[{"href":"https:\/\/resumade.ind.in\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/resumade.ind.in\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/resumade.ind.in\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/resumade.ind.in\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21"}],"version-history":[{"count":1,"href":"https:\/\/resumade.ind.in\/blog\/index.php?rest_route=\/wp\/v2\/posts\/21\/revisions"}],"predecessor-version":[{"id":23,"href":"https:\/\/resumade.ind.in\/blog\/index.php?rest_route=\/wp\/v2\/posts\/21\/revisions\/23"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/resumade.ind.in\/blog\/index.php?rest_route=\/wp\/v2\/media\/22"}],"wp:attachment":[{"href":"https:\/\/resumade.ind.in\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/resumade.ind.in\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/resumade.ind.in\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}