There are a lot of rumors floating around about how to go about negotiating your salary which makes the whole process even more difficult due to various expectations, skill levels, and levels of communication. The following myths are popular rumors that people hear.
“Myth #1 – No application will be reviewed without salary requirements.”
If a qualified candidate chooses not to put down their salary requirements this does not automatically mean he or she is disqualified. The salary requirements may be brought up in future conversations or interviews with the candidate. However, if a candidate does choose to put down their salary requirements and is wide outside of the expected range this can be a disqualifier. In order to avoid this mishap research the company salary range and the industry salary range. Glassdoor.com is a good source for this.
“Myth #2 – In the Hiring World, No Exceptions are Made.”
If a candidate is top-notch then the company will make efforts to make salary negotiations to convince the candidate to join the company. For example, if an individual has the potential of the late Steve Jobs for example and he or she is applying for a technology position, he or she will be strongly desired. Therefore that individual will most likely have more options when it comes to negotiating his or her salary.
“Myth #3 – Employers dislike negotiating salaries.”
Basically this comes to fighting for what you believe in if it’s appropriate. Employers may actually see salary negotiation as a positive asset in that you are strong-willed and understand what you are deserving of.
“Myth #4 – Past Low Salaries = Future Low Salaries.”
Improve your job skills and be able to prove it. With improvement and continuous hard work you should be able to negotiate a higher salary. Also, if you have achieved outstanding results this is also a logical motive for a salary increase.
“Myth #5 – Always Negotiate for the Highest Salary.”
Money isn’t everything! If you are not able to negotiate for a high salary think about the other important options. Try negotiating for better benefits and bonuses.
“Myth #6 – A Salary Is A Fixed Figure: You Can’t Change It.”
Negotiation may not always be an option right off the back but try negotiating after you have strengthened your skills and improved your results. Also try negotiating for more or better benefits as mentioned previously.
“Myth #7 – A Beginning Salary Is Just That – A Beginning.”
This is incorrect because the amount of pay increase (raise) is often based on the amount of current earnings. Therefore, a lower salary means a lower raise. A higher salary means a higher raise!
“Myth #8 – Not Asking For More $$$ Improves Your Chances.”
Remember to be knowledgeable about your self-worth to the company. If you feel that you deserve to be paid more, create a logical and strong argument for an increased salary.
“Myth #9 – You Should Take The 1st Offer And Be Grateful.”
Although receiving money is always a plus, think about the salary offer from a company’s standpoint. A company is looking to make money and cut down on costs. An employee’s salary is one of these cost factors. So often, a company offers a lower salary initially knowing that the candidate may be looking to negotiate. So go ahead, try to negotiate a better salary!
“Myth #10 – Agree To The Final Offer A.S.A.P.”
Don’t rush into any job without thinking through all the factors thoroughly. Take at least 24 hours for this process. In addition, if the job offer is in writing, this offer cannot be revoked. So don’t worry, someone else is not going to steal your job.
“Myth #11 – If I Don’t Take The 1st Offer, Someone Else Will.”
If the employer is interested enough, he or she will be willing to negotiate with you regarding your salary, benefits, or bonuses. If not he or she should be willing to negotiate this factors in the future after work experience has been gained.
These myth topics are courtesy of WorkTree Check it out!