The first job is an exciting feel. You are all ready to dazzle the world with the skills that you gained. But is the salary that you are being offered something near to your market value? Would you be negotiating your first salary, if given the chance? If your answer to this is a maybe or no, then this article is all for you.
Entry level jobseekers consistently stress over their experience. Subsequently, when a firm offers them a bid for employment, they accept it as an open door to acquire insight and keeps the ‘low compensation’ matter aside. They become awkward and simply go with the worth that the organization places into the concerned job position.
Negotiating your first salary in your first work, a new position, or with a similar manager ought not to be viewed as something untouchable. That being said, it is an issue that requires delicate dealing with. Talking about your assumptions ought not to turn into a flood of feelings. Keep a quiet, calm mentality and find a way to arrive near your desired salary.
Many myths revolve around the thought of ‘an entry level negotiating their salary’. Most of them are quite silly yet take up a major prejudice in the minds of people. This article focuses on some common myths about negotiating your first salary and some FAQs to tackle some common doubts.
5 Myths About Negotiating Your First Salary
MYTH #1 – Try not to haggle by any means — you’re fortunate to have found a new job offer in any case.
This is something that entry level jobseekers get fixated upon. With no job experience on hand, they feel that it is better to work for the job that is in hand. Some first-time job seekers neglect to comprehend that the recruiting cycle is likewise unpleasant on the employing side.
Businesses screen many individuals on the basis of their resumes, spend incalculable hours picking candidates to meet, dedicate a lot of time to set up meetings, and afterward select a candidate to employ. Recruiters, till this point, have invested a lot to get down to the selected candidate. So even entry levels hold enough negotiating power.
MYTH #2 – Quoting a lower salary will get you the job.
This is something that is a foolish move in all sense. Remember, employers, want to hire people who quote a salary in the median range value of highest and lowest salary. If you quote a salary value below the lowest range, then the chance of you getting hired will decrease.
The best salary value to be quoted should be in a range of the highest possible package and lowest possible package for the corresponding job. Further negotiations might help you to inch closer to the upper value of the range.
MYTH #3 – Requesting for the agreed terms in writing might offend the employer
Many entry level professionals finding it worrisome whether they should ask HR to write down the terms which were agreed upon by both the parties in the negotiation meeting. NO!! The negotiation meeting is set up for coming to a mutual conclusion regarding salary and other benefits.
It is not wrong on your part to request the employer to mention the terms in the offer letter. Trust is one thing but writing down the terms will bring clarity to both the parties involved. Later on, no further discussion needs to be done from the perspective of rewriting the terms.
MYTH #4 – Planning doesn’t actually make a difference. Everything comes down to how good I am at negotiating.
This is a big foolish mistake to practice. It is surely not possible that planning can get you the best package. But what is foolishness is not at all planning and simply going ahead with a mindset ‘Will see as it comes’.
Planning makes you do some prior research. This research helps you in understanding the salary range in the market. This information can be used well during the negotiations.
MYTH #5 – Everything is Negotiable in Job Offer
Some people believe that all things can be discussed. This is also NOT TRUE!! Taking it too ahead in believing that you can negotiate everything on the table is the mistake that many people do.
Always go with a mentality that there are certain things in the offer letter that cannot be negotiated. For example, the location of a job might not be negotiable but vacation time can be negotiated.
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5 FAQs about Negotiating Your First Salary
FAQ #1 – How to know whether the salary I’m offered is fair?
One word answer- RESEARCH!! You have to do some market surveys to understand the scenarios of what is the range value of salary for a particular job position. With the internet in hand, you can look around and find whether the salary being offered is the right one or not.
There are also many salary calculators available on the internet which gives you a proper estimation of salary for a particular job position in a particular area. If the salary offered is much lower than the market value, take up saalry negotiation to find the best for yourself
FAQ #2 – Is there any particular time to bring salary negotiations during the interview?
This is something that needs to be recognized by all job seekers. As they say, timing is everything. Some people after having a formal conversation with the recruiter jumps into the questions straight, ‘What will be my salary check?’ This will only downgrade your image in the eyes of the recruiter.
It is better to wait for the other party to bring up the salary and its breakup. Else, after the finalization of the offer, you can bring this topic for discussion.
FAQ #3 – What is the aptest response if I am asked about my salary requirements?
This is a question that acts as a great filter for many employers. They won’t take the people who ask much above the price bracket. Also, nor will they take people whose salary demand falls below the salary bracket.
To answer this question, you need to have knowledge about the salary of the said position in the market. Once you get to know it, quote a value a bit above it. The reason is the negotiations will always bring the salary value down. So to get the accepted value, present a higher value
FAQ #4 – The salary being offered is low, should I still take it?
NO!! Never let your value go down because of a low package in front of you. Say no were required. The market is not yet so down that you need to jump for any pay packages.
This is important because your future jobs will be affected by this. Hence take up a job that has at least the minimum pay for the job.
FAQ #5 – Why is getting an offer in writing so essential?
Very essential!! Everything that you say can only be used if it is legalized. Legalities don’t work over oral promises but rather on a mutually discussed agreement signed by both the parties involved. So get the points of discussion down on paper.
The takeaway
The worry that many entry level professionals hold is actually not true. Especially with regards to the job salary. You do have a negotiating right. Use it for the good. Understand the rules of these negotiation games and get hold of the best package for yourself.
Hope this article could make you understand the common myths and FAQs surrounding this thought and help you reach that dream package.