Salary is always the top priority for Canadian job seekers. Of course, factors like your position in the company, employer brand, organizational culture, and work environment matter in the long run.
But you will often prefer putting the paycheck on top of your checklist while assessing a job offer.
The good thing is that you can negotiate on salary because most potential employers expect you to do it.
Not negotiating may actually go against you because you may end up with far lesser than what you deserve.
Make sure you learn the art of negotiation before going ahead with your first interview.
Even seasoned professionals should ramp up these skills to get the best deals down the line. Here are some tips to ace salary negotiations every time like a pro.
Wait for the right time
As a newbie, it is tempting to say too much too soon. But steer clear of quoting anything about the salary before getting a job offer. Even if a potential employer starts the money conversation before the job offer, try to deflect it.
Be strategic and speak more generally until you get a formal intimation to join. Quoting a figure can pin you down to a specific amount too soon.
Moreover, you will not really want to do it before knowing the details of the role. Be patient and wait for the right time, no matter how enticing the circumstances appear.
Do not give away too much too soon
Besides making sure that you do not rush into things, do not give too much information too soon. Discussing your salary history with the hiring team can land you a lower offer.
They may actually reduce the amount considering your past salary, so it is better to be tight-lipped about the numbers. Let the recruiter speak first because they may have a better offer than you expect.
This way, you will not need to waste time and energy on negotiations. Also, have a clear idea about the compensation package, not just the salary, you expect.
Invest in research
Another tip for smart candidates is to invest time and effort in research before negotiating on salary. Several factors determine the ideal salary, from your level of education to additional certifications, experience, and career level.
Surprisingly, your location also makes a difference. For example, two cities in Ontario may have different ideal salaries for a professional with the same skill and experience levels.
You can use a reliable Salary calculator Ontario to get the exact figure. Use it for further negotiations to ensure you are not taken for a ride by the employer.
Remember to build in a cushion
You can trust a salary calculator to get an ideal figure to quote for negotiation. But do not expect the hiring manager to accept it right away.
They will do their part of negotiating to arrive as a figure that works for everyone. You can get smart with the final bargain by building in a cash cushion that goes above the actual amount you expect.
Even if the final offer is less than the amount you ask for, you will not feel the pinch. Decide the cushioning value optimally so that you do not miss the chance or end up with a lower offer.
While you must not say too much too soon, knowing the ideal salary and getting an offer means it is the right time to open up. At this stage, it is crucial to be transparent and upfront.
Being honest about your salary goal can eliminate potentially challenging negotiations and disappointment down the line. Transparency is also about being clear about the other offers you have at hand.
It conveys you are in demand, and the employer will get value by getting you on board.
It is easy to believe that salary negotiations are only money talk. But the truth is that you should know a lot more about the company and the role at this stage. Do not hesitate to ask questions and get your facts right.
Ask about the perks and benefits included in the pay package because they determine the actual value you carry home with the employment. Dig deeper into details like the base-only offer and sign-on bonus.
Further, inquire about the expectations from the role, performance reviews, and growth trajectory in the long run. Complete information about the offer and employer makes it easy to negotiate and get the salary you deserve.
Create your talking points
Besides having your checklist of questions for negotiations, you must also prepare your talking points. After all, you cannot expect the recruiter to go ahead and accept all your demands unconditionally.
They will have their questions and arguments while negotiating for the company. Think of your talking points beforehand as they can get you in a better place during the negotiation.
Essentially, you must have a valid argument to explain why you deserve a higher salary. Your research can help you validate the ideal amount depending on factors like qualifications, experience, and location.
Be confident yet polite
Your success on the negotiation table depends on your attitude. Everything boils down to your confidence level because it can make or break the deal.
Trust your capabilities and give yourself a pep talk before going ahead. Believing in yourself gives you the right start. Your body language and tone are as crucial as the talking points because recruiters are more likely to listen to someone confident enough.
But remember not to be too brash only to show self-confidence. Be polite but firm with your stance, and you will definitely win the negotiation game.
Salary negotiations are tricky for beginners, and even seasoned professionals can find them challenging. But research can take you a long way in determining and quoting the figure you deserve.
The effort is worthwhile because you land with an offer that makes you happy enough to stick to the job. Follow these tips, and you can ace negotiations like a pro!