Just how to get the most out of salary negotiations

Just how to get the most out of salary negotiations

| Self-development

Imagine: you’ve been looking for a job for a long time, and you’re now finally offered a position.  Of course, this is excellent news, but one caveat, until you’ve negotiated your salary, the deal is far from sealed.  Therefore, make sure that you go out and get what you’re worth by negotiating an advantageous salary because otherwise, you could be selling yourself short.

Suggest the level of your expectations

During the early stages of negotiations, salaries are often not discussed. Companies believe that this may be confusing for the candidate, mainly if employees with different experience and skills can do the same job. The employer needs to make sure that you're the right person for the job. However, don't forget even before the first interview, the recruiter has some idea about you.

When you specify your salary expectations on your CV - this is the first step of the negotiations. It's unlikely that this will help you achieve a salary several times higher than you already earn, but it is possible, with good negotiations, that you could boost your future wages by 10% or more. For example, your employer offers you a salary of fifty thousand dollars. If negotiations about your salary are successful, then you can expect an increase of five-ten thousand dollars. When a recruiter doesn't know your salary expectations, for example, once they find your profile on LinkedIn and have an interest in you, don't discuss money right away; collect as much information as possible first. The employer is already taking an interest in your candidacy. In this case, you must try to achieve the most favourable conditions. However, remember probably, recruiters have already explored in detail your profiles on social media, information about your past employment and have already a rough idea of how much they're willing to offer you.

If you're using your CV to search for a job, it would be better to indicate your salary expectations. The lack of such information will scare off employers and decrease the number of responses to your CV. Companies have a budget, while at the same time, looking for candidates who will fit in with their finances. Devoid Of the necessary information and a swift acquaintance with your CV, makes it difficult for recruiters to evaluate you by way of this parameter. If you want to negotiate, you don't have to specify a particular amount, but a range that is preferable to ask for, and a bit more than you would expect to receive: then you will be able to bargain on the terms and conditions that are comfortable for you.

You need to take into consideration the level of salary for your profession. You'll be able to find this out on Glassdoor or PayScale websites, and it is also prudent to interview acquaintances. Present your desired salary level based on this information. If there are few responses to your CV, you will need to check: are your expectations too high? Are employers willing to pay the amount you're asking? If not, the amount will need to be adjusted.

Decide for yourself the least amount that you're prepared to accept. For example, it's best not to take a salary which is lower than your previous salary. It's likely; it's going to take a lot of effort to reach your previous level of income.

Bargaining

Bargaining

You should begin negotiations with a clear understanding of how much you want to receive and whether the employer can pay this amount. That sort of insight will give you confidence in your abilities. It's necessary to be able to reach a deal successfully. You will also need:

  1. Courtesy. We should thank the employer for paying attention to our application. In negotiations, observe business etiquette. It's essential to make a good impression. It will be an additional reason for hiring you. Prepare yourself for a potentially stressful interview. Throughout these interviews, the candidates can quickly lose their cool and become upset. For example, they make you wait for a recruiter in an uncomfortable environment, make harsh remarks, etc. Keep calm, respond to the provocations calmly, and with dignity, don't be rude to the recruiter and don't become personal. However, before agreeing to the job, decide for yourself: if you're ready to work in a company where you must 'stand in your power' from time to time.
  2. Your choice of reasons. The chances of getting your preferred salary will increase if you can reasonably explain the reasons why the job you'll do is worthy of an increase in salary: describe how your skills will help improve the company profits or reduce company costs.
  3. The ability to endure a pause. The company may not get in touch with you for a long time. In this case, there's no need to panic and hurry to agree to conditions that are unfavourable for you. Be patient. Employers frequently pause for candidates to become nervous due to a lack of information and then accept lower pay. To survive a pause, it helps to have a good understanding of what conditions you think are fair.
  4. Readiness for whatever outcome from the negotiations. There's always a chance that the company will not agree to your terms or offer a compromise. Don't reject this immediately, first analyse the pros and cons: the employer might provide less money than you expected, but compensate for this by offering other concessions, for example, with having access to a free schedule. Think about how beneficial this offer is for you. If beneficial - agree. The employer may not agree to your terms and offer a decent alternative: don't despair. In this situation, it's essential not to dwell on failure or give up, but to continue looking for the job of your dreams.

It might seem that if negotiations don't guarantee a lucrative result favourable for you, then you ought to not waste time and effort on them. However, that's the wrong way to look at things. For example, women who negotiate wages earn, on average, one million dollars more over their lives than those that don't. Don't miss your chance: negotiate and seek out compromises.

Mila Smart Semeshkina in the 100 Most Influential People in Dubai list

Mila Smart Semeshkina, CEO of the Lectera platform, was for the second time in a row included in Arabian Business’s 100 Most Influential People in Dubai ranking.

| News

According to Forbes columnist Mila Smart Semeshkina, "Startup success is a product of courage and foresight."

The founder and CEO of the Lectera platform, Mila Smart Semeshkina, told in her new article for the Forbes op-ed how to guarantee your startup a successful launch and a stable position in the market.

| News

Mila Smart Semeshkina receives the CEO of the Year at CEO Middle East Awards 2023!

On December 13, the annual Arabian Business’s CEO Middle East Awards ceremony was held in Dubai (UAE).

| News

Mila Smart Semeshkina Leads Inspiring Workshop on Personal Branding at UN Women Entrepreneurship Expo

Mila Semeshkina, CEO of Lectera and founder of the WE Convention, recently spearheaded a hands-on workshop on personal branding at the Women's Entrepreneurship Expo 2023.

| News


Mila Smart Semeshkina's article for Forbes: how business can make education accessible

In the 21st century, quality education is no longer a luxury; it should be a right. Everyone in the world, regardless of location, residence, gender, or financial status, should have the opportunity to obtain essential skills and knowledge to develop a career and realise one’s potential.

| News


Mila Smart Semeshkina is in the top 20 most inspiring female leaders in the Middle East

The Italian women's magazine Grazia has published an article about businesswomen in the Arab world.

| News


Mila Smart Semeshkina for Forbes: "Stories of accomplished female leaders can serve as beacons"

Mila Smart Semeshkina has published an author's column in Forbes.

| News


Mila Semeshkina for Arabian Business: "The success of Lectera wasn’t immediate"

In her new interview with the renowned business publication Arabian Business, CEO and Founder of Lectera Mila Semeshkina talks about how our platform achieved such success and why we have every chance of becoming an EdTech unicorn.

| News