Salary negotiation is a cycle that is bound to repeat throughput one’s professional journey. This process should, therefore, be an area of focus for every potential employee. An individual is bound to undergo through the salary initiation process a dozen times, and in most cases, the process will always be the same. The only factor that changes throughout the process is one’s current position in the salary negation cycle. Therefore, when the salary negotiation process comes, it is essential for one to approach it objectively to ensure that one does not lose the employment opportunity. Therefore, this essay will aim to define and discuss the various terms related to the salary negation process. Additionally, the article will also focus on the application of the salary negation procedure during an interview and why it is vital to the entire process.
Once an individual receives a job offer, the respective employer must attach the salary offer. This is the amount of salary that the employer is willing to pay the employee (Levy & Mohamed, 2014). A salary offer is based on various factors in relation to the employees expected job or functions. Additionally, the market ay rates for a specific task or function might determine the salary offer. When laying down a salary offer, the employer in a majority of cases will make sure that it is in line with career development and pay increases without a need for promotion at each job level.
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Nonetheless, in most cases, an employee an also offer a counter-offer in response to the salary offer made by the employer (Levy & Mohamed, 2014). When issuing a counteroffer, the applicant will feel that the proposal presented by the prospective employer is not considered as being acceptable. It is imperative for the applicant to come up with a counter-offer to ensure that the job requirements match the salary expected. In a majority of cases, employers will not give a salary offer that is high for the organizations they represent are in the profit-making business and will do anything to ensure they have low operational and administrative costs.
Suffice to state that another vital element of the salary negation process is the benefits packages. They can include health insurance, retirement benefits, paid or non-paid vacation and sick leave, commuter benefits and other forms of reimbursements. These benefit packages form a vital component of the entire salary package (Brown, 2017). The main reason why these are vital is that they can make up about 30% of the entire salary package and thus should correspondingly be part of the negotiation. The benefits package should be one that will meet all your needs and in most cases not just monetary one. The benefits package should not be left out for even though one is offered a higher salary, for example, $10,000, the money will easily become depleted for one will have to pay for other things such as health insurance among other monetary needs that can be covered in the benefits package.
Salary negotiation begins even before an individual gets a job offer. It is, therefore, vital for one to be ready to negotiate the salary package and job offer. A substantial number of employees will ask their potential employees what is their excepted and current salary and it is here that the negation process commences. Once an applicant is successfully invited for an interview, the internal recruiter or hiring panel will then ask the similar question. However, this is mostly asked after the recruiters have gone through the personal information, educational background and work experiences of the applicant. It is at the last stage of the interview process that the recruiters will bring up the question on the amount of money that one made in his/her last position. A substantial number of job applicants dread this question for they know that once the initial salary is revealed, it will make it hard to negotiate anything better than that. However, there are various strategies that one can use to ensure that h/she does not reveal the salary received in a previous position. However, in most entry-level jobs, the salary negation process is not available for most of the jobs come with a fixed starting salary. Some industries also follow this mantra and thus one should not flex and swing the negation skills during the interview process.
A salary is crucial for it does not just matter for the present but also the future. Through a wage, one will have the ability to finance various activities that are vital to once survival. Therefore, salary negation is an essential element of the interview process. It is important for one first to have an awareness of the offer’s context before engaging in the negotiation process. Some institutions might have higher salary capabilities hi ether do not. According to Kang et al. (2015), the through a salary negation process, it will ensure that interviewers hire high-quality employees as inexpensively as possible. This will mean that applicants who initiate the negotiation process will not most likely be hired as compared to those who will wait for the interviewer to initiate the entire process even as long as the two parties are qualified for the respective position. Moreover, the skills that one employs during salary negotiation are vital for applicants who tend to remain silent will mean they lack confidence in their abilities and skills. For the interviewers, they will feel that if they hire such people, they will not have the ability to bargain on behalf of the business (Kang et al., 2015).
Additionally, salary negotiations during an interview are important for the applicant. This is because, they will ensure that one is paid what he/she is worth (Gates, 2016). This is mostly based on an individual’s level of experience and education qualifications. One with a higher index of the two factors should be compensated more than one with a lower index. The main reason for this is that educational attainment will require one to invest a considerable amount of money during the entire process and it is not right to be paid a lower salary. More importantly, salary negotiations will ensure that one is paid at par with the industry standards or what others pay (Gates, 2016). The salary negation will allow one to negotiate the other benefits packages. These benefits are vital for they will ease the burden that might be placed on an individual who only receives a higher salary without benefits.
The salary negotiation process is a never-ending undertaking in case one is ready to undergo professional growth and development. Salary negation process is not only linked to first-time job applicants but can also be initiated during job promotions. It is important for one to understand that during this process, it has three main terms, an offer which encompasses the salary raised by the employer, a counter-offer that the applicant can in case the salary offer made is not as per expectations or employer can engage in case offer made by applicant is high and benefits package that includes additional reimbursement and compensations. Salary negation is essential for it will enable employers to get the best talent. In case of the applicant, it will allow one to get paid what he/she is worth. More importantly, the process will initiate the ability for one to negotiate various benefits packages.
References
Brown, E. (2017). Salary negotiation: Get what you seek. Nature , 546 (7658), 441-442.
Gates, S. (2016). The negotiation book: Your definitive guide to successful negotiating . Chichester, West Sussex, United Kingdom: John Wiley & Sons.
Kang, G. (Grace), Xiu, L., & Roline, A. C. (2015). How do interviewers respond to applicants’ initiation of salary negotiation? An exploratory study on the role of gender and personality. Evidence-Based HRM: a Global Forum for Empirical Scholarship , 3(2), 145–158. doi : 10.1108/ebhrm-11-2013-0034
Levy, P., & Mohamed, F. (2014). How to Negotiate Your First Job: 8 Steps That Will Create Value for You and Your New Employer . Cork: BookBaby.
