How to get what you deserve - Negotiating your Salary - Part I

For most people, the critical time in their job interview when it come to negotiating their salary. It need not be so, if you are aware of your worth, your market value, the value-addition to the organization of each one of your skills, your experience and past employment records - everything matters.

I heard some days back a very beautiful saying, 'Everybody gets what they deserve!'. At that time I challenged it, saying that many times we get less much less than we deserve and circumstances force us to accept things that we would not have done, given ideal conditions.

Then, the explanation of the saying was given. Yes, indeed sometimes we accept less that we deserve, however, we never settle there. We aim higher and higher till we reach to that place where we think we deserve. As soon as we reach there, we stop struggling.

This is actually the basis of what salary negotiations; the backbone of it. How much do we think we are worth? Our negotiations would actually be based on this surmise. This article will highlight a few points and the questions that you will have to put to yourself to find out the real answer.

Print this out on a paper and keep it handy - this can be your guide whenever you have an interview.

SELF-EVALUATION

I. Make a list of the following:

II. List what did the job responsibilities in the past entail:

  • Administrative
  • Managerial
  • Technical
  • Liaisoning
  • Others - Check out what the current job entails and then calculate your value addition to the organization in terms of the 'extra' that you could offer

III. Make a list of the pay-package components of your past pay:

  • Cash (salary/ consolidated)
  • Commissions/ bonus (incentives)
  • Allowances (cash - education for children, medical reimbursement, vehicle allowance, etc)
  • Allowances (in kind - free food, free access to Internet/ technology/ free phone calls, free guest house stay, etc )
  • Benefits (quantify them in cash equivalent as much as possible)
  • Growth/promotion opportunity (fast/slow) - When you get the total, add about 15-25 percent over it and compare it to the market value of your job. If it comes within the range, this is the salary you ought to start negotiating with for the job

If the market value is lower, you still start negotiating at this salary

If the market value is higher, then start at the market value, and refuse to disclose your past salary

IV. Find out what you should get from the new job:

Check out:

  • Primary responsibility
  • Secondary responsibility
  • Other
  • Hours of work
  • Expectations of working overtime during weekdays
  • Expectation of working over the weekend Above the salary that you have worked out, add 5 percent for every additional task; find out whether overtime is paid or considered as 'part-n-parcel' of the job; if so, add another 5 percent for that

In all given the extras your salary could 5-20 percent more

V. Know your personal worth:

Up and above everything else, feel confident and respect yourself. There is a saying, nobody can ride your back unless you bend. Hence, it is very important that you hold yourself in high-esteem. Remember, unless you respect yourself, nobody will respect you. This quality is not directly quantifiable or translated into cash equivalent. However, without this quality, no matter how good you are, you will always be undermined.

Hence, you need to develop a strong professional pride, and personal high self-esteem. Not quantifiable. But critical to any negotiations.

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