Have you ever been worried about negotiating the salary while you are joining a new company? You’re not alone. When HR asks you about your expectations, it’s obvious that you can be a tad bit uncomfortable. However, as per Harvard, there are ways and strategies that might help you in negotiating your salary.
Don’t get in your own way
Authors Deborah M. Kolb and Jessica L. Porter mentioned in their book ‘Negotiating at Work: Turn Small Wins Into Big Gains’ that we often get in our way while answering “how to negotiate salary”. This happens when we doubt our aptitude and decision-making skills before the conversation takes place. This results in lost opportunities.
To counter this, you need to have the proper information to justify the amount that you’re quoting. Always add details about the value you would bring to the table. The authors also recommend that you come up with a couple of alternative numbers for the time of the negotiation because, in all likelihood, HR’s alternatives will almost certainly be not as attractive.
Do your research
Many companies have a pre-defined salary range for various job categories (Must have read on job posts: Pay as per industry standards). You should always ask the employers about the position they are offering and then compare it keeping your experience and educational qualification in mind. This will help you in negotiating better. According to Harvard, you should adopt a tone that goes something like this: “Correct me if I’m wrong, but I’ve heard that people in this role typically earn Rs 80,000 to Rs 90,000 a month”.
Pick your negotiating style
According to Harvard, Michelle Marks of George Mason University and Crystal Harold of Temple University found five types of negotiating styles in the Journal of Organizational Behavior. The research was conducted after talking to 149 professional employees who had been hired in the past three years based on their negotiating styles. These include:
- Competing
- Collaborating
- Accommodating
- Compromising
- Avoiding
As per the report, the style of negotiation determined the salary outcome. For instance, those who negotiated the salary instead of straight up accepting the other party’s offer increased their starting pay by an average of $5,000. Concurrently, those adopting a competitive salary negotiation style did better than those who focused on collaboration, although the collaborators reported a smoother process. The compromising and accommodating styles, naturally, did not witness any gains.
