Did you get blindsided by the salary question in your last job interview?
Typically, we prepare ourselves with the questions we want to ask but become nervous at the crucial moment. One of the reasons is that you worry that the hiring managers may raise their eyebrows after hearing your salary expectations. Consequently, you lowball and spit out a figure that is lower than your range. In the end, you feel frustrated because you didn’t ask for what you deserved. As a result, hiring personal recruiting services has become an important part of finding jobs so that you can find the right role and get a fair salary.
However, the question still remains: How can I avoid being in a similar situation again?
Top Tips to Negotiate and Avoid Lowballing Your Salary
Depending on the employer or recruiter, the discussion on salary can happen at any phase of the hiring process. Hence, it is best to stay prepared for the conversation that can happen at any time.
Find out the top salary negotiation tips and ensure you get the salary you are worthy of with the help of the points listed below.
- Research Extensively
If you want to know the current salary ranges of employees in your field, be wise and start doing research before the interview. However, it should be noted that salary ranges can vary depending on geographical location, company size, years of experience, and other factors. Make sure to conduct your research based on these factors by taking help from Google, LinkedIn, Glassdoor, or even a personal recruiting service, as they are a genuine source for such information.
- Are You Aware of Your Bottom-Line Number?
Once you have an idea of the salary range for an employee in your field, create a salary range for the job you want to apply for. In that case, start by identifying the highest number that a person of your experience and skill can make. Then determine the bottom-line number that you would be okay accepting.
- Negotiate Offers at the Appropriate Time
If you have already lowballed your offer, it wouldn’t be ideal to negotiate again. The best thing to do is arrive confidently with a range of salary expectations, so that you can make a counteroffer when required and observe how the hiring manager responds.
The benefit of having a bottom-line figure is that you will be able to walk away once you find that a company cannot meet your expectations. In some situations where candidates work with a recruiter, they mediate the complete negotiation between the employer and the candidate. On the other hand, they act as advisors as candidates negotiate directly with the hiring managers.
- Avoid making a verbal commitment
The last thing you want is to make a verbal commitment to a salary that you aren’t ready to accept. Generally, verbal commitment is a prevalent part of the process and is done prior to drafting the offer letter. Hence, if you verbally agree to a salary package, ensure that you’re okay with accepting it on paper simultaneously.
Things to Do If You’ve Lowballed Your Salary
The good thing is we’ve learned how to avoid lowballing your salary, but what if you’ve already done it? Would you walk out, inspired to give your best effort next time, or accept the offer with a sad heart?
Luckily, there are still ways to save yourself and land a salary package that is close to your expectations.
- Take Action Immediately
Instead of giving up, take action immediately. You might still have a chance to reverse the situation in your favour. What you need to do in these situations is call back or email the hiring manager, explaining that you’ve lowballed yourself. Since there is a scenario of budget approval for the salary you’ve asked for, it would be wise to communicate as soon as possible.
- Own Your Actions
Transparent communications are always respected. In that case, you must confess that your excitement to join the company got the better of you, which led you to make a wrong decision.
- Clearly State Your Salary Expectations
Ensure to clearly state your salary expectations once you’ve admitted to lowballing your offer out of excitement. At the same time, inform HR of your actual salary expectations.
Whether this discussion is happening on the phone or in-person, ensure to stop talking at this point instead of trying to fill the silence with nervous explanations.
Usually, there are three things that can happen in this situation. (1) They will accept your offer; (2) They will come with an offer closer to your range; (3) They will tell you that it’s not possible for them to meet your salary expectations, at which point it’s up to you whether to take it or walk away.
What Else Should You Negotiate Other Than Salary?
Although negotiating the salary is an important aspect of accepting a job offer, there are other things to consider during job offer negotiations apart from the salary.
- Flexible Work Culture
In contemporary times, post-COVID, the flexible work culture has become more popular. Since hybrid work schedules allow employees to work from home with flexible start and end times for job shifts, some companies allow both remote and in-office work schedules based on project needs and employee benefits. Make sure to ask the hiring manager if there is scope for flexible work arrangements in the company.
- Career Growth
Besides the salary, you would also want to know about the different trainings that the organisation offers as well as performance-based promotion in the upcoming years. If you know that you’re joining an organisation where there are opportunities for growth, it motivates you to work hard and with passion.
- Signing Bonus
Many companies offer a signing bonus, which is a good thing for the candidate to negotiate around a low offer. However, candidates must remember that it’s a one-time payment that won’t be repeated in the following years.
- Employee Benefits
An important aspect of a job offer are the employee benefits. In that case, make sure to check what is included in the employee benefits packages. It’s important to take time to understand the benefits and then tackle the negotiation strategically. In that case, don’t be afraid to ask and think outside your paycheck. Here are a few benefits that you can negotiate:
- Options on stock
- Improved health advantages
- When will the rewards start to accrue?
- Parental leave that is longer
- Performance-based bonuses
- Performance-based bonuses
- Latest business laptop
- Extended paid vacation days
- Increased unpaid leave of absence
- More paid vacation days
- Learning stipends or compensation for tuition
To cut a long story short, salary negotiation is a collaborative process. Rather than concentrating on what you can get from the employer, try having a transparent conversation that will lead to a win-win conclusion. Simultaneously, when you want the help of a personal recruiting service provider, you can contact us for guidance and help. Konfer Executive Group is one of the most reputed personal recruiting service providers in Germany and offers all the help needed, including marketing, networking, job searching, and interview preparation, to job seekers. So if you are searching for the right job opportunity to move up the ladder of your career, contact us today.