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Tips for Effective Salary Negotiation

Tips for Effective Salary Negotiation

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Published by: satyam.pmir6789 on Jun 22, 2009
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09/30/2010

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TIPS FOR EFFECTIVE SALARY NEGOTIATION:It is always recommended not to mention your Salary History. Don't revealthe details of your previous salary to your prospective employer.While filling the form for the interview, you would come across the questionregarding your salary expectation. Prefer writing "Negotiable" as the answer.This would indicate to the organization that you are not adamant on salaryissue.The figure of your previous Salary should not become a hurdle in asking for ahigher package. You should be able to convince the interviewers that thesalary should be decided according to your value and experience that youwill bring to the organization.In the interview, you may be told by the interviewer that the company canoffer you some specific salary figure. Now, if that salary figure is lower thanyour expectations, you should try to convince the interviewer regarding yourcurrent and future requirements, and make them feel that you are asking forwhat you deserve as per your talent, and experience.It is recommended that you should not be the first one to bring the issue of salary. Let the interviewer begin with that, and let it be one of the lastthings in the interview. Never state your current salary falsely to get ahigher salary.SALARY NEGOTIATIONIn many cases, salary negotiation takes a centre stage during interviewprocess. Therefore, it is desirable to understand negotiation mechanismbefore engaging in salary negotiation. Negotiation is a process in which twoor more parties attempt to reach agreement on the issues on which theyhave differences.In the case of salary negotiation, there are two parties- panel of interviewers and interviewee. The issue on which difference exists is thatthe interviewers want to offer as low salary as possible while theinterviewee wants as high salary as possible.During the negotiation process, each party has a target point which defineswhat it would like to achieve. Each party also has a resistance point whichmarks the lowest outcome that is acceptable – the point below which theparties would like to break off negotiation rather than accepting a less –favorable statement. The area between these two points makes up eachparty’s aspiration range. During the negotiation process, each party’s tacticsis to get its opponent to agree to one’s target point or to get as close to it aspossible.Depending upon the bargaining power of each party, seetlement is arrived atbetween target and resistance points. If settlement is unlikely to be arrivedbetween these two points, the parties prefer to terminate the negotiationprocess. In the context of salary negotiation, it has been observed that inmany cases, interviewees used to fix their target and resistance points muchhigher than organisations resistance point and settlement could not be

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