One useful way to get your best offer is to practice negotiation with yourself. Imagine you are negotiating with an employer, and negotiate your salary to the lower figure you are willing to accept before asking for the higher number.
What are some ways to prepare for salary negotiation?
When negotiating your salary, it’s crucial to know the organization’s fiscal situation before accepting an offer. Has the company posted record benefits for the year? Has it redundancies in years past? These factors will affect what you negotiate with the employer to pay, either over or below average wage.
How to Negotiate a Competitive Salary?
You can research how much other people who have comparably performed an equivalent job to you have been paid by completing a salary survey in your area. The key is to exhibit genuine instances of comparative positions both inside and outside the firm, and to show that you have been outperforming your current salary.
General economic situations in your area
You will have a clearer idea of what a reasonable income is if you research the job market and the level of supply and demand in your specific field. Is there a lack of applicants with your range of abilities in the business you work for? Do you find that most businesses have a high demand for employees? You need to take all of these factors into account when negotiating your salary, which can be tough if you rely on intuition alone.
Decide if there are any compensation compromises
Remember not to be attracted into a misguided feeling of fulfillment on the higher-level salary before understanding your total compensation, as there can be additional costs to bear on top of it. For instance, you may have a longer commute to work which will use up more of your time. Neither should you justify a lower amount by thinking it is government enough because you’re getting other benefits such as free health care coverage or company lunch vouchers. In the end, the most accurate way to measure reward is by how much you get in hand.