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:
- What are your USPs (Unique Selling Points)?
- How do you compare to your peer group?
- How valued are you by the organisation?
- How easily replaced are you?
Know your environment
- What industry wide salaries/reviews are prevailing?
- Why should you be paid that much or more? Again USPs!
- Know your organisation’s mindset and the personalities of the decision makers
For example, if you are in a regulated industry where people such as yourself are paid X, there may be little room for discussion.
It is also vital to know the people you are dealing with
- Some people require carrots, other sticks. Sticks are very dangerous for employees and best avoided!
What non-financial items can be included in your package?
- Sponsorship of Tertiary Courses
- Inhouse Training and Development
- Overseas exposure, etc
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.