Today's economic conditions have made survival impossible unless you own a business or you are a son or daughter of a rich businessman. Many people are fighting with low incomes and some of them even have the option to negotiate with their bosses but they don't. The cloud of insufficient salary may be hanging on your head too but you do not have the guts to bring it up with the boss. Having been employed in a high flying corporate company, you expected a lot more than what you are being offered. Since the company has some leverage at this point many people choose to sit back and try to make it with their salaries. However, you can get the offer you want with the salary package by using salary negotiation. Salary negotiation allows you to place your point in front of your boss and ask for an offer you are more comfortable with since low salary means dissatisfaction which means lack of performance.
Before we begin, let's lay down some ground rules when negotiating a salary. Do not get emotional and neither should you give emotional reasons. Competition in the corporate world is cut throat; no one is going to pay attention to them no matter how much they sympathize with you. Besides, your boss did not hire you on emotional grounds, did he? Negotiating a salary or a salary increment with a company should be done when you have leverage. For example, you need to be indispensable to the company thanks to your skills and experience. Before booking this appointment, ask yourself you have skills that are worth a certain amount of money. If you are a CPA who has been exceptionally good at your job you may have a shot at negotiating but if there are many other CPA's like you out there you do not have a chance. If the company you are working with is known to negotiate salaries, take your best shot. If not, it may be wise to try other means.
When negotiating, list down the skills you have which could benefit your company and make the company know that you are giving it more than it is giving you. Keep in mind the market rate payment for a professional with your skills and experience. It is imperative for any person to know how much he is worth in the current market otherwise he may end up being taken advantage of. If the salary you are offered is too far below the market average rate, you need to raise this. If this is the issue, it is more of an employee right and has to be negotiated. It works to tell your employer what you are worth and what you were being paid at your previous job. Do not underestimate or overestimate figures as this will work against you, be as honest as you can.
Negotiations have to be formal and so are the agreements after the negotiations. You need to discuss the basic salary along with the other allowances that come with it. Once you have the salary package after settling the figures mutually with the company, make sure they are written down and they are made formal. This will be a binding contract on the company that will make it a legal responsibility to pay you. Most salary negotiations take weeks since you have to make yourself acquainted with the agreement. Make sure you are aware of what your rights and responsibilities are regarding the company. It is important to know if with salary raise you are supposed to perform some additional duties as well; if you are not sure you must ask and confirm or otherwise this will be considered as negligence on your part.
Successful salary negotiation will also bring you in front of your employer's eye as now he/she will know your worth to the company. Now this is your chance to encash your worth. Do your best and perform at the highest level so that you can move to the next level of your career. This salary negotiation is just a beginning and can take you to the higher levels of your career if backed by good performance.
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