How to Negotiate Salary when Switch to a New Job

Moving to the new employer comes with a rare chance in terms of salary hike. If you negotiate well with your negotiation skills then you can get an increase in salary. If not, you will leave the money on the table by just saying ‘yes. Here are the 6 steps that will help in healthy salary negotiation with a new employer.

1. Study the figures- Before getting into salary discussion, be prepared with facts & figures. Besides the candidate’s qualities, the employer decides the salary behalf on last drawn salary in the previous Job, what competitor offering for similar roles, and as per the industry norms. Do research on salary figures, Websites like glassdoor.com, Linkedin Insights ambitionbox.com, and payscale.com.

2. Network Discovery- Reach out to people in your network for information and advice. Such as someone you know in the organization, a career advisor, a former employee, etc.
Don't directly ask what you are getting, instead ask, “What do you think the organization would pay for this position?” or "I heard recently company got, X level funding may I know what's the range of package offering.

3. Have Options Ready- You will be in a strong position If you have options ready. Try to give as much as interview as per your potential, get an offer letter, and close the deal with your top choice last. This may be helpful in salary negotiation with the potential employers.

4. Strong Reason to Get You Hire- The organization is interested in your salary in as far as they’re interested in you. Give them a strong reason why you should hire for X position and for X package.

Example- I think you should hire me because of my attitude you may find people having more experience than me, you may find people asking less salary than me but I will tell you, sir, you won’t find people who can beat my attitude. Moreover, if you look at the job profile and my skills set I see a 100% match.

5. Win-Win Situation-  Recruiter often starts from the minimum package offering for X role. Try to keep negotiations on that and kept it negotiated till the point where it's being accepted by both parties. Win-WIn where all participants can benefit in some way.

6. Come back with data if the offer is too low- If the package is low or equal from your last drawn salary excuse for a moment by saying "I would appreciate if you grant me some time to review the offer." Afterward, then back up your statement with figures. Don't close the deal, let it be open for future consideration.

Thank You!