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Salary Negotiation Skills

Ok, the long and the short of it is that we all do it for money! Not everyone maybe, but still, money matters. And salary negotiations are probably the weakest area of the IT professional. They DO NOT make good negotiators. I have seen so many who at the first instance will smile and say “Negotiable.”

So, keep the following key points in mind when negotiating for money:

Do a study of what the salary trend is. Have some kind of baseline in mind. What is the salary trend based on the number of years of experience? Discuss things with your friends beforehand.
Do not mention your expected salary on the resume.
Let the employer first make an offer. Try to delay the salary discussion till the very end.
If they ask you how much you expect, come out with a figure that is a little towards the higher end and say that it is negotiable. Remember, never say negotiable on the figure that you actually want, the HR guys will always bring it down. So negotiate on what you want +a little bit extra.
The normal trend is that they look at your current salary and add a little it so that they can pull you in. Do your homework. Say clearly that my present salary is this much and I expect this much. I will not come down below this.
Do not talk harshly during salary negotiations.
It’s good to aim high. For instance I want a billion dollars every month, but at the same time, be realistic also.
Some companies have those little hidden costs attached to the salary. Clarify it, rather than be surprised when you get your first pay packet.
Many companies add extra performance compensations to your basic, which can be surprising at times. So, ask for a detail breakdown beforehand. It is best to discuss in-hand salary, rather than NET or CTC.
Find out what the frequency of hikes and appraisals is.
Take everything in writing, go back to your house and have a look with a cool head. Is the offer worth it? Give it a good thought.
Do not forget that once you have job in hand, you can always go back to your current employer and negotiate.
Remember, cribbing about the fact that your colleague is getting paid more than you is highly unprofessional. So be careful during interview, or be sportive, or be a good negotiator in the next interview.
One very important thing is that the best negotiating ground is not the new company that you plan to join, but the old company which you are leaving. So, once you have an offer in hand, go back to your old employees, show them the offer, and only then make your next move. It is my personal experience that negotiating with an old employer is easier than with a new one. Frankly, if approached properly, rarely will anyone will say ‘no,’ as you have spent quiet some time with them. Just do not be aggressive or egoistic that you have an offer in hand.
Last but not the least, sometime something’s are worth more than money: JOB SATISFACTION being one of them. So, if the difference is money is not that much, go for job satisfaction. It is, at times, worth more than money.

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