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How to negotiate a salary in new job offers?
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Negotiating your salary when you get a new job offers is an art which everybody should try to master. Since changing jobs is part of life learning this art can get you dream salary with new job offers. This article talks about negotiation skills which you must use for new job offers. If you keep few things in mind, salary negotiation in new job offers can become both easy and non embarrassing.Step 1:
Don’t be ashamed to negotiate in new job offers. You need to be as objective and practical about negotiation in new job offers as you are when you discuss a private problem with a doctor. Be candid and frank. Remember, salary negotiation in new job offers is just a way of finding the right price for your skills. Since there is no rule book which one can refer to when you get new job offers, yet it needs to be done and you should do it as objectively as possible.
Step 2:
Do some research when you get job offers. It always helps if you know what people at your level are getting in the new organization. This will be pretty much your limit which the HR can go upto as your job offer. They cannot afford to upset existing employees at same level by offering you much higher. Companies have fancy terms for this rule like ‘peer parity check’ or something similar. So know about these things when you are evaluating job offers.
Step 3:
Try to increase the fixed component in new job offers. Lot of companies now have a fixed salary component and a variable component. If the overall salary cannot be increased in a job offer, due to reasons mentioned in step 2, try to get the fixed component increased as much as possible. This will insure that your take home salary is less prone to getting adversely affected by your’s or company’s performance.
Step 4:
Try to get a reimbursable component in a job offer. This is the part of salary which you get back after showing bills like petrol, books, food, travel etc. The advantage of this in a job offer is that this amount which is received against bills is not taxable. So the greater this amount is in the salary which your new job offers, the lower your taxable salary will be. Thus you will save a lot of money in tax.
Step 5:
Weave a story when negotiating a job offer. Don’t just say that lot of people got 30% hike when they get a job offer, so you also want a 30% hike. HR will shoot this argument down straight away. Better way of saying this is something like – you were due for promotion in your last job and would have got 20% hike with promotion and since 10% hike is industry standard with a job offer you think 30% is a fair hike to ask.
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