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The global job market across the world is slowly starting to pick up after the COVID-19 pandemic. Millions of skilled workers across the world were made redundant or had to take a pay cut during the pandemic and the lockdown that ensured.
Now that the global job market is recovering, companies are starting to hire once again and job seekers are not only looking to land a good job but also a high-paying salary.
Awkward as the conversation may be, negotiation is an essential component when it comes to getting what you want. It also allows you to display your assertive character traits which may prove useful in the long run. Plus, you may be pleasantly surprised to discover that your potential employer may very well offer you the salary you had your heart set on from the get-go.
Of course, this by no means implies that you should overestimate your expectations. Keeping it realistic is key. So expecting to get 10K more than the initial offer is aiming a bit too high. It’s good to be ambitious, but overreaching might ruin your chances of landing the job.
Indeed, negotiating is a skill that can be extended to other scenarios in the working world. Take B2B businesses, for instance. A typical example is how affiliate marketing companies negotiate great bonus deals with online casinos. Both parties have something to gain from the negotiation. The question is, which party has the most leeway and negotiating room?
#1. Do Your Research
Some companies tend to advertise the salary along with the job posting which gives the applicant an idea as to what salary package they can expect. Some companies do not put down a specific number but offer a salary range based on the right candidate and fit. However, a lot of companies tend to avoid mentioning numbers but use market jargon like competitive salary or salary on par with industry leaders to attract candidates without committing to anything specific.
Before you apply for the job and attend your first interview, it is important for you to pay attention to these things. If a number is mentioned, make note of it. If a salary range is mentioned, make note of the higher end of the range, not the lower end. If no salary is mentioned, make sure you ask what the range is during your initial screening, and do not wait till the end!
#2. Don’t Be Shy To Ask For More
In most Western and European countries, candidates are not very comfortable asking the employer for a higher salary, even though they want to. Job seekers in Asian countries are far more open to asking for a higher salary because the art of negotiation is drilled into the Asian economy and culture. You should always consider asking for more than what the company is paying, especially if you find that they have taken a liking for you and are keen on hiring you.
Another reason why you should think of asking for more is that the company will always have a small buffer to add to the position, especially if it is a mid-management or senior–management position.
#3. Learn The Art Of Asking For More
When you want to negotiate and ask for more, you must learn how to ask for more. If you go about it the wrong way, you could end up losing the job offer or coming across as greedy. The best way to go about asking for more is to politely enquire if this is the best offer that the company can give, letting them know that you were expecting a slightly higher package. This gives the company the opportunity to go higher, if they’re interested in you or decline and let you know that’s the best you can get.