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Salary negotiation is basically like any other negotiation. It occurs either AFTER you have been offered a job or as part of a regular review process.
The key points are:
Know yourself |
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What are your USPs (Unique Selling Points)? |
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How do you compare to your peer group? |
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How valued are you by the organization? |
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How easily replaced are you? |
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Know your environment |
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What industry wide salaries/reviews are prevailing? |
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Why should you be paid that much or more? Again USPs! |
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Know your organization’s mindset and the personalities of the decision makers |
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For example, if you are in a regulated industry where people such as yourself are paid X, there may be little room for discussion. |
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It is also vital to know the people you are dealing with |
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Some people require carrots, other sticks. Sticks are very dangerous for employees and best avoided! |
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What non-financial items can be included in your package?
For example: |
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Sponsorship of Tertiary Courses |
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Inhouse Training and Development |
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Overseas exposure, etc |
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These serve to advance your career and employability and are vastly more important than a few hundred dollars a month. Don't be greedy. Think long term. |
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