How to Answer Four Common Questions About Wage Negotiations
You want to be ready for the upcoming salary negotiations , so plan to explore the standard pay range and practice asking what you want. These steps are certainly helpful, but they are not enough.
This post was originally published on the Muse website .
Too often people lose money by thinking of only one case. Although they are willing to say, “I know the starting figure for someone in this sector in this city is $ 55,000,” they never thought how they would respond to “This is our best offer, no negotiation. “Feeling anxious (or confused), they immediately agree , even if they don’t get the desired number.
After interviewing dozens of women, I learned that one of the main reasons their negotiations didn’t go according to plan was because they weren’t ready to respond to what the other person said. To prevent this from happening to you, read the most common things you hear and tips on how to respond to them.
1. “What are your salary expectations?”
It looks like the hiring manager lets you lead. But in reality, they want to appreciate the least that you are willing to accept. If you say you are hoping for a certain salary that is at the bottom of their range, they know they won’t have to offer you more (even if they originally planned to do so).
Answer this question with diplomatic evasion: “I am more interested in finding a position that suits my skills. I am confident that what you are offering is competitive. “
Or return the question to them: “I have flexibility regarding compensation. For me, position and growth potential are much more important. Are you ready to share the approximate range you have in mind for this position? “
If they still insist on an answer, brace yourself with some market data to answer this question as if nothing had happened without revealing what you would actually accept: “According to my research, the market rate for such a position is 65,000-80,000 dollars. “
2. “How much are you making now?”
A common mistake job seekers make is disclosing their current salary early in the process. Again, employers will use this to gauge if you are willing to accept a low offer. If they budgeted up to $ 90,000 but you report that you are currently making $ 65,000, they will likely start with a lower bid, assuming you will be happy with the 10-15% jump.
Therefore, the best answer is not to give the exact number. Try: “I would rather not discuss what I’m doing now because the position I’m interviewing for is not exactly the same as my current job. I would like to discuss responsibilities, and then I am sure that we will agree on a suitable salary. ” Or: “My current employer does not allow me to discuss compensation outside the company. I would like to respect their privacy. “
Of course, this could have happened before the interview stage if you had to indicate the amount on your job application. (For future reference, I suggest specifying “N / A” or an obviously wrong number like $ 1. In my experience, most recruiters won’t punish you, as they’ve probably seen from experienced negotiators before).
If you have already indicated the amount of your remuneration, be prepared to reconsider this amount during the interview. Come up with good reasons why your current salary does not reflect your true market value. For example, highlight whether you have taken on important responsibilities in your current job or class to improve your skills.
Whatever you do, don’t confuse returning the question or putting it off until the interview is a lie. While it can be argued that your market value is higher than what you are currently earning, you cannot lie.
3. “Unfortunately, we have no room for negotiations.”
Sometimes the number is truly non-negotiable. For example, if you are hired for “elementary grade,” the offer may not be negotiable. (Starter class is when a large company hires several people with similar qualifications at the same time – employees straight from law school or management internship programs.) This also may not be negotiable if you are taking on a public sector role and you are already getting the best deal on the size of wages.
This is a good time to ask about the compensation package in general (vacation, tuition compensation, promotion options, bonuses, flexibility to work from home). Even if they cannot budge from their place in wages to their hands, other benefits can have real monetary value.
Once you’ve decided what benefit you would like to focus on, try: “I understand that salary is not negotiable at this point. I see that you have a tuition compensation program and I want to get certified in product management. Could you sponsor my program? “
4. “In the future, you will have opportunities for growth and improvement.”
If the proposal is uncompetitive and they reject any attempts you may have to negotiate, saying that you will discuss it in the future, don’t let the conversation end there. Instead, treat it as an invitation to specifically discuss what comes next.
It goes like this: “Since this number is a little lower than I’m comfortable with, I would like to discuss my future and my job. I know that one of the most important things in this role is [key metric here]. If I can deliver this within [time frame], could you then increase my compensation to the [target amount]? “
If they say yes, make sure you get something that describes this agreement on your employment contract, and then try to do it before the revision date.
Just as you prepare for an interview, you need to prepare for negotiations. And that means more than thinking about your formulaic speeches, it means preparing for a two-way conversation. So team up, train with a friend, and imagine how you would react to the unexpected. This way, you will avoid being caught off guard and are more likely to hit the desired number.
4 Lines That Catch You By surprise during wage negotiations (and how to prepare) | Muse