8 Key Steps to Negotiate a Fair Salary
More than two-thirds of blue-collar workers earn less than ₹15,000 per month. In fact, studies have found that most firms pay wages that are below the minimum, that is, ₹18,000 set by the Central Pay Commission (CPC). This justifies why a vast majority of Indians have problems securing a ‘liveable wage’. If you do not want to be a part of this statistics, it is a good idea to know how to negotiate salary as per parameters like industry standards.
Negotiating, however, is more than just money. It is a prime chance to show your employer that you are capable and confident with what you can offer. But make sure that the pay you are requesting is well-aligned with your education, strengths and experience. Below are a few tips to consider before signing the dotted line. These will help in striking the right chords with your employer without discomfort.
1. Factor In the Perks
Explore the benefits which a company offers with the help of a reliable HRMS app. The compensation could be in the form of insurance for financial wellness. Nearly 514 million people in India were covered under health schemes in the fiscal year of 2021. You too can get help for all insurance-centric requirements along with access to best-in-class products and services. Further, see if safety merchandise like helmets and jackets are being provided. Read between the lines to consider the whole deal before jumping to conclusions.
2. Research Industry Rates
Get informed about what can be a fair wage as per your location, position and skills. For example, Zomato has designed a salary structure for its workers as per region and the city of employment. So, if you are wondering about how to negotiate a higher salary, have a clear idea of where you stand to avoid coming up with bizarre numbers. You will be able to state an acceptable salary that is prevalent at present for your job role.
3. Know Your Worth
A blue-collar salary depends on employer policies, experience level and the region. Try to analyse each aspect to figure out what you qualify for. However, avoid focusing too much on yourself. Instead of ‘why I deserve a bigger pay’, focus on ‘how can I add value to your company’ or how you meet the business requirements well.
4. The Right Tone
Be firm and assertive yet humble while the salary discussion is going on. Stand by your statements which can help reinforce self-confidence. Make sure your voice is not shaking and try not to underestimate yourself. This is one of the most essential hacks if you want some information about how to negotiate salary in 2023 and beyond.
5. Have Patience
One of the answers to how to negotiate salary with HR is to avoid pushing the process. Stay calm and talk about your financial obligations in a convincing tone. It can help the recruiter understand your needs and can be helpful in closing the deal. Negotiating should not turn into a heated argument. If the employer is not ready to raise the pay, either accept the offer if it is not too much of a trouble or walk away respectfully.
6. Be Courteous
Be as polite as possible at all stages. Even if the salary offered is frustrating, try to maintain a controlled attitude. Express seriousness, commitment and passion towards your work and back them up with proper proof from previous employment records. This helps build a sense of trust in the HR manager. But do so without overselling yourself. All of this increase the chances of the negotiation working in your favour. In short, if you want to know how to negotiate salary offer, setting the right tone from the start can make a difference.
7. Mention a Range
It is a good idea not to be too specific but counter-offering a salary range. This way the authorities are aware of your expectations. A practical wage bracket also helps them understand that you have done your research and are well aware of your potential. But while dropping a mail or verbal communication, be precise instead of extra persuasion.
8. Feel Free to Say No
If the salary is not in your best interest, it is okay to deny the job offer. Else, you may be doing more harm than good to your career in the long run. This is because the salary structure of the next job is most likely to be based on your current one. But make sure you decline the offer politely without being disrespectful.
If the company says that they might not be able to offer higher pay at the moment due to budget issues, try to schedule a follow-up conversation. Putting these simple tips into action can help you enjoy fair pay.
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