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Looking For Salary Hike? Here Is How You Can Negotiate Better

Salary increase is related to the last salary drawn and last increment. So every increase is important to negotiate for the next salary hike

Photo Credit : Shutterstock

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Looking to change your job for salary appraisal? Finding a new job is not the only way to increasing your income, negotiating for a good salary is important while looking for jobs and appraisals.

Research

Do proper research on the current industry salary trends and job market for a similar job with higher pay package. Look for companies with higher compensation band than you current organisation and compare with other employees with your skills and experience. Know your value to the company and proper homework will help you negotiate better in t he next appraisal.

Negotiate for others

Research shows that employees generally negotiate poorly for themselves while doing it much better for someone else leading to stress. Think about your well wishers to find motivation for negotiating. Be polite and enthusiastic as it keeps the door open for the other party to contact you with a revised offer.
Your energy conveys that you continue to be interested in the job and in finding a solution.

Alternate plan

Someone with an alternate plan will always be a good negotiator. The best back-up plan is to have other job offers or business ideas. Look for different interviews and different job positions. This will always give you confidence to negotiate fearlessly. When you have job offer in hand from one company, you can always talk fearlessly about your pay package in other interviews.

Wait for the right time

If you are offered a salary package first, think patiently and respond. When you take your time to reply, you can always ask for apt reasons for the offer. You can churn out the important things for the company and accordingly, ask for your salary. Delayed response with patience will always lead to negotiation and generally ends up into a higher offer.

Other benefits

Don’t be rigid only about the salary or cash you will earn instead look for other perks offered as well.
Always ask about the benefits you will be getting from the employer. These can include travel allowance, a car, variable bonuses, or insurance cover which can make up for a better deal aprt from your salary.

Clear picture

Give a clearer picture to the employer when you are negotiating about multiple factors. Talk about your salary, bonus, job profile and other perks. Keep everything simple so that the employer gets the complete picture instead of assuming that you are interested only in one thing. Always negotiate for a higher salary to get the actual salary you desire.