Salary & Benefits

Things to keep in mind while negotiating salary

Gobananas Negotiation Advice

Negotiation requires a level headed head, the knowledge of your value to the organization not only helps you gain confidence but also cement your place in the eyes of the employer. Remember not to step on each other, let the employer take the lead and move together with the process. Negotiation should not be harsh rather it should be smooth and in sync with the expectations of the employer.

We, at Gobananas, don’t believe in making definitive statements about what to keep in mind and what not to keep in mind, but there are some grey areas to be aware of before entering the process of negotiation.

Here are some of the most common mistakes employees tend to make while negotiating their Salaries:

Starting Negotiations Too Soon

The best time to negotiate is when a formal offer is made. If the offer is as per your expectations accept it. It is a big mistake on the part of the prospective employee to negotiate just for the sake of negotiating. You have the right to negotiate; there is nothing wrong in asking for time to consider the offer or asking for the scope of negotiation.

Salary Negotiation is not the only exception

Indeed, salary or money is the frequently negotiated piece of compensation but there are other parts of the package that are negotiable like signing bonuses, unpaid leave, relocation expenses, flextime, severance, and predetermined timeframes for salary reviews.

Don’t lose faith in the System

Job seekers generally assume that employers try to lowball them no matter how well qualified they are for the position. There are employers who would like to hire the best talent at the less pay package, please don’t enter the negotiation process with “them-verses-me” mentality. The known fact is that every organization has a predetermined budget, so, an offer boils down to win it or loose it proposition, and it is not because the employer wants to take advantage of you.

Don’t make the mistake assuming your Degree fetch you a Higher Starting Salary

No doubt, having the required education for the position applied for will keep you in good stead and help you to zero down in the pool of applicants. Incase, you have little on the job experience, your degree will keep you in the race but won’t guarantee you a higher salary. Salary is not the commensuration of your degree but your experience is.

Don’t believe every negotiation will favor you

Negotiation is a process that requires a consensus between two parties, but it is foolish on your part to assume you will always get what you want. Negotiation is nothing but a compromise; you should assume this before going into discussions. This doesn’t mean you should settle for a mediocre offer just for the sake of hefty paycheck. We, at Gobananas, advice you to continue your search until you get a job of your dreams with the pay package that commensurate your experience and qualification aptly.