Negotiating your salary is the most important part of the hiring process. This single decision can be worth money to spend lavishly on things you love, take that trip, pay off debt, etc. So, when negotiating your salary, always keep in mind to avoid these 5 mistakes:
Don’t tell the employer your current salary:
The main reason the employers ask for your current salary is that they can offer you just a little bit more than what you’re currently making. But if the interviewer will ask you this question, politely say,” I am sure to find a number that’s fair for both of us.”
But if the interviewer keeps on insisting you to reveal the salary, better to close the topic. And try saying,” I am not comfortable revealing my salary, so let’s move on. What else can I answer for you?”
Don’t make the first offer:
Making the first offer is the job of the employer not of the prospective employee. If they ask you to suggest a number, just smile and say, “Now come on, that’s your job. What’s a fair number that we can both work from?”
Don’t share your other company’s offers with the company you are interviewed:
For instance, you have got another offer from a “mediocre” company, don’t share that you have another offer. If the employer asks you if you have any offer, say something vague but speak only the truth. The tip is not to reveal the company’s name, just tell something like: “It’s some tech company, but my interest is inclined towards your company.”
If you share the name of the mediocre company, with the existing interviewer, be ready to get a lower offer. Because the employer will put efforts to retain you in the company but that too at a lower salary.
Don’t ask “Yes” or “No” questions:
Don’t say things like,” You offered me $40,000, Can you make it $45,000”? Instead say,” $40,000 offer is an excellent start. We’re in the same ballpark, but how can we get to $45,000”? Isn’t it a polite way to ask your employer to increase the salary? Of course yes!
Don’t boast about having any other offer from any XYZ Company, even if you don’t have any. Don’t inflate your current salary. Try to be truthful in negotiations and promise only those things that you can deliver.