Top 10 Myths Related To Negotiation On Your First Salary
You have recently been offered your very first job and you are so excited about it that you can barely think of anything else, but this whole new chapter in life right in front of you. Along with being excited, you are also a little nervous because you know that you have to negotiate on your salary and don’t want to lose this opportunity only because you are expecting a little more money.
Before you make any move, you have to remember that your first job’s salary influences your career, the bonuses that you receive and even the money that you are going to make by the time you retire in your life. Higher the amount of your first salary, easier it is for you to get a better raise when you change your job or get promoted in the same company. It is more or less a mistake if you begin with a low salary.
Since we have a good amount of research and experience with negotiation, we can help you learn about some of the scariest myths that people have related to the negotiation for their very first salary. Don’t carry these myths in your head when you sit on the table for negotiation:
Myth 1: Since this is my first job and I don’t have any experience, I can’t bargain on the salary: Just like it is difficult for you to search for the right job at first, the hiring side is not easy, either. Employers interview dozens of people out of which they have to select only one or two (or a few). Just like you are looking for the right job, the employer is looking for the right candidate too. If you do your best in the interview, you gain the power to bargain.
Myth 2: Since there is no other offer in my hands, I can’t even think of negotiating: No doubt you feel more powerful to negotiate when you have another offer in your hands, but it doesn’t mean that you can’t bargain if you don’t have any other option. Demand for what you deserve and the employer shall release the expected figure to you.
Myth 3: Since I am being offered more than my expectation, I don’t have to negotiate: If the employer is offering you a higher figure than the one you had in your mind, it simply means that you underrated the profile and your caliber. There is still a chance for you to negotiate and ask for a better pay.
Myth 4: Since I am a woman, I shouldn’t negotiate as it would create a negative impression: Negotiating is an aggressive and assertive process, right? You are wrong! You have to be positive, polite and confident when you negotiate on your salary. Nobody judges you on your gender.
Myth 5: Since the economy is bad at the moment, there is no point in negotiating: The economy is bad for last one decade; this doesn’t mean that nobody is getting paid as per their expectations. Most of the employers tend to use the “bad economy” as an excuse and thus, most of the candidates do not negotiate their salary fearing the loss of the opportunity that they have in their hands.
Myth 6: The salary data that I need can be provided by a little bit of research on the internet: Of course internet is an amazing way to learn about everything that you want to know, but it doesn’t have a lot of information related to your salary expectation. You can make use of your favorite search engines and find out a bit about salary data, but it is not doing to give you all the details that you are looking to have. All you can do is talk to your colleagues and friends about the first salary they drew for a similar position you are planning to give the interview for. Real data is what you need in your hands before you begin negotiating.
Myth 7: I don’t have to prepare myself for negotiating the salary; my presentation is all that matters: You can’t depend upon your presentation only; you have to think about how to prepare your negotiation. Make a strategy if you can and jot down the ways in which the organization will benefit if you become a part of it. Let them know you are worthy of the salary you are quoting.
Myth 8: I just have to ask for the salary that I want: You can’t exclude the negotiating part by thinking that getting an expected salary is as simple as asking for it. Also, you have to ask for a little more than what you are expecting for the job you have been offered.
Myth 9: Since your new boss has said yes to your salary expectation, all you need to do is celebrate: If your new boss has readily accepted the figure that you quoted, it is a sign that you didn’t ask for a figure that’s worthy of the job that you are going to perform in the organization. Make sure you research a lot before you quote a figure so that you negotiate in the right manner.
Myth 10: Since my negotiation offer has been turned down, it was a mistake to have even tried: Negotiation is an art. Just because it didn’t work this time doesn’t mean that you have to blame yourself. You learn a lot of things when you are in the negotiation process. Consider it as an opportunity to understand where you lacked and how you can improve your skills in future.
It is necessary for you to possess, or develop, negotiation skills since your entire career depends upon it. All you have to do is remember to do your homework and you can negotiate for the figure that you have in your head. When you begin with a bigger amount, your salary increases with time, which is good in the long run.
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