Salary Negotiation 101: 4 Ways To Get A Higher Pay Package During Job Switch

When we switch jobs, the only thing that is more difficult than the hassle of sitting for multiple rounds of interviews is salary negotiation. It is the final step where you have to decide your worth and sell it to the HR you are in conversation with.

With the pandemic that led to many people losing work, companies have found a new reason to offer low packages. The case is even worse if you are a woman. However, along with the loss of jobs for many, there also came the Great Resignation, where hordes of employees fed up with low wages and a lack of remote-work support from their organisations quit their jobs. So, now is the time for employees to negotiate better for their salaries and other perks.

According to the International Labour Organisation, women work more but are paid less compared to their male counterparts.

Here are a few ways you can negotiate better salary offers.

It Is Okay To Ask For More

We often think that whatever we have been offered might be the industry standard. However, if you think you are worth more, and your designation, combined with your work experience and skill set, deserves a higher pay package than what has been offered, it is okay to ask for more.

Even if you think that the first offer was good, you can still go ahead and negotiate your salary. If not salary, you can always ask for more perks. The point is if you wouldn’t ask, you would not know. It also helps to ask the HR for their salary range for the offered role and whether it is negotiable before you decide to go ahead.

Prepare & Practice The Script

Before you speak with the concerned person about negotiating your salary, you must prepare a script if that helps. Just a generic one including pertinent points on why you are fit for the job, what you bring to the table, and why you deserve what you are asking for.

Practise the script multiple times in your head or in front of the mirror to appear confident when you actually speak. How the hiring committee responds, would give you an idea of how well they appreciate their employees. If they respond positively, it is a win-win for you. And if not, you dodged a red flag work situation (win an argument in workplace).

Research The Industry Standards

Research is the best arrow in your quiver when it comes to negotiating salary. You must talk to your friends and fellow colleagues, and familiarise yourself with the industry standards.

It will give you the upper hand when you ask more than what you were offered. Glassdoor and LinkedIn are the best platforms to get connected with people in similar roles, and gather information about what should be your annual pay for the designation you were offered.

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The Ball Is Always In Your Court

Once you get the offer and negotiation happens, the ball still remains in your court. If you have better options, or you think you deserve more, you can politely deny the offer at hand, and thank the hiring committee for considering you.

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It does not make you a bad person if you reject an offer. You can always say that the package (what is CTC) offered is not up to your expectations.

If you can negotiate your salary for this job, it could definitely be done for the next one. Therefore, there is no harm in asking, speaking your mind, and knowing your worth.

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