Salary negotiations can be a tough process.
You have just finished multiple rounds of tough interviews.
You feel committed to the company and the role, if only because you have spent so much time internally hyping yourself up to believe that.
You are on good terms with the hiring manager and the HR manager – everyone wants you on board.
It’s easy to give in and accept a reasonable salary when you are under such euphoria.
But reasonable is not the same as deserved.
Do not leave money on the table unless you are doing it for specific reasons.
Here are some quick tips to prepare you for salary negotiations:
- Understand the range of salary your profile and the category can deliver. Use tools like Glassdoor, Linkedin salaries, and Indeed.com to identify this.
- Fix your total value at about 75% of this range, +/- 5%
- Prepare Plan A and Plan B to meet this number using a mix of Fixed salary, Variable salary and ESOPs.
- Keep an MAO in the back of your mind (MAO – Minimum Acceptable Offer)
- Try to have the conversation quite early on with your HR manager. You don’t want to go through the entire process only to realise later on that your range and what the company is willing to offer vary by a lot.
Eventually, though, judge a job by all its merits – not just the remuneration.