Tactful and Skillful Salary Negotiation Strategies during Interviews
After going through the interview process and experiencing the tension of evaluation, the salary negotiation stage is when you must be extremely professional and tactful to persuade the employer to meet your desired compensation that aligns with your professional expertise.
Salary negotiation is an art! Many potential candidates have achieved the salary they expect by employing savvy negotiation techniques. So, how can you negotiate your salary professionally and skillfully? Don't miss the information below if you are on the journey of job searching and seeking effective salary negotiation strategies during interviews!
1. Understanding the concept of salary negotiation
What is salary negotiation?
Salary negotiation is the process of discussing and reaching an agreement on salary, allowances, and benefits between the employer and the candidate during a direct interview. The discussion on compensation will continue until both parties reach a final agreement.
The salary negotiation process helps candidates achieve their desired income, commensurate with their professional skills and the position they are applying for. In reality, individuals doing the same job may have different salaries, which can depend on their ability to negotiate their salary effectively.
Understanding Gross Salary and Net Salary
Lack of understanding about gross salary and net salary can inadvertently put you at a disadvantage during salary negotiation. Specifically, gross salary refers to the total income that an employee receives, including base salary, allowances, commissions, insurance, and personal income tax. Employees are required to deduct a portion of their gross salary for social insurance and personal income tax contributions each month. On the other hand, net salary is the amount employees receive after deductions for personal income tax, social insurance, and other expenses.
It is important to note that most employers prefer to discuss gross salary, while candidates often prefer to negotiate net salary. Therefore, it is essential to inquire about whether the salary mentioned by the employer is gross or net to avoid any misunderstandings after accepting the job offer.
Read now: How to propose a raise to help you achieve your expectations?
Discover the concept of salary negotiation and differentiating gross and net salary
2. Recognize your own value and determine the expected salary
For the same job position, each company will have its own requirements. If the workload is high and the demands and pressures are great, you should consider negotiating for a higher salary.
Take the time to assess your own capabilities and experience. The higher your competence, the more successful you will be in negotiating salary. If you feel that you have not yet reached an exceptional level, it is advisable to opt for a moderate salary agreement.
To accurately evaluate your professional skills and experience, you can seek the assistance of recruitment experts at Navigos Search. The recruitment specialists at Navigos Search are highly experienced and have undergone extensive training in specialized skills. They can help you determine your own value and propose a salary level that is appropriate for the position you are applying for.
Research the salary levels of the company and the market
"Know yourself, know your enemy, and you will win every battle." Before entering any negotiation, you need to research the market to determine a reasonable "price." Learn about the industry, the job position, and the company you are applying to in order to understand how much your current skills and abilities are worth.
There are various ways to determine the average salary for a particular job position in the market, such as the Talent Guide 2023 by Navigos Group. The Salary Report by Navigos Group is based on the data from two leading recruitment brands in Vietnam (VietnamWorks and Navigos Search). The report provides detailed information on salary levels for different departments and levels within 23 different industries in Vietnam, such as construction, real estate, finance-banking, information technology, etc.
By referring to this report, candidates can easily envision an appropriate salary range for the job they are applying for, which will facilitate discussions and negotiations with potential employers.
Research the salary level of business and market beforehand
4. Be prepared for challenging interview questions
A thought-provoking interview wouldn't be interesting without some tough questions. These questions may delve into areas that you may not want to reveal to the employer, such as your weaknesses, the potential impact of your weaknesses on the job, your previous salary, or whether you can guarantee job performance in relation to the proposed salary.
These difficult questions require persuasive answers. Responding in an overly casual manner may make the employer feel like you're just "bluffing." On the other hand, if you provide safe and vague answers, it may be difficult to convince them to trust in the results you can bring.
The advice is to stay calm and recognize the true nature of the question. They may not fully trust what you say or they may be "testing" you. Provide the most honest answer with determination. If possible, you can expose the employer a bit to demonstrate your analytical skills and grasp of the issue.
Regarding your previous salary, be honest. Even if you're applying for a higher position with a higher salary than your previous one, it's important to honestly state your previous salary and express your expectations for a higher salary. If your income at the previous company changed over time, you can provide a clear "salary range" that increased over time.
5. Assert yourself and create highlights before salary negotiation
The salary negotiation stage is crucial as it's the moment you need to present yourself in the best light. This is an important time for you to convince the employer to "seal the deal" after a stressful interview round. Make an effort to answer all questions and address any concerns from the employer to demonstrate your abilities, expertise, and experience. The better you present yourself, the more you prove that you deserve the proposed salary.
You can also demonstrate this by providing the most relevant evidence from your past, such as your accomplishments, dedication, or the plans and goals you would contribute to the company if given the opportunity. With clear value, you need to clearly articulate what you will do, how you will do it, and the timeline for implementation. If you analyze the details, it shows that your value is not ordinary.
Demonstrate the professional expertise and experiences
6. Avoid providing specific figures when negotiating salary
This strategy helps you leverage and seek further advantages. If you provide specific salary information, you may risk receiving less than the amount intended by the employer. Moreover, if the figure you propose is not in line with your own capabilities, it will only create additional complications for yourself. Therefore, be flexible and responsive, depending on the situation at hand.
In the event that you and the employer cannot find common ground, it is important to honestly express your viewpoint that both parties may not be the best fit for each other at the moment. Maintain professionalism even when faced with rejection and remain hopeful for future opportunities where both parties can find a more suitable match.
7. Be confident and maintain a professional demeanor
During salary negotiations, it is important to demonstrate confidence in order to make your statements more convincing. Avoid exaggerating about yourself and strive to be honest, avoiding arrogance that may make the employer uncomfortable.
If the employer wants to know your desired salary, it indicates that they have considered you suitable for the position. If the salary offered by the employer falls short of your expectations, you can still decline the offer. The key is to maintain professionalism and tactfulness. Who knows, in the future, you may be invited to a higher position and have better opportunities than the present.
8. Pay attention to other benefits and perks
If the employer shows firmness and does not change the salary offer, you can request additional information about other aspects such as allowances, bonuses, performance-based incentives, outstanding achievements, etc. You should also ask for clear details about the salary increase timeline and the income enjoyed under the contract. Additionally, do not overlook job opportunities that may not offer high salaries but emphasize training and skill development for employees, which can help you excel further in your career path.
While every worker desires to be fairly compensated by the employer, it is important to remember that salary is not everything. Do not let money pressure you into accepting a job you do not enjoy or giving up better opportunities in the future.
Remember that the salary is not everything you receive
9. Express gratitude
At the end of the salary negotiation process, don't forget to send a thank-you note for the opportunity that the employer has given you. Whether or not you reach an agreement, after the interview, write a thank-you email and send it to the hiring company. This small gesture will certainly demonstrate your professionalism.
If you haven't successfully negotiated the salary, don't worry! The recruitment experts at Navigos Search are your companions on the journey of job searching, through interviews, probation periods, and beyond.
At this moment, you can confidently search for another suitable job in the job listings at Navigossearch.com. We regularly update a wide range of mid-level and senior-level job positions in various industries such as Sales, Software Engineering, Finance/Investment, Banking, Human Resources Management, Insurance, Architecture/Interior Design, etc., for candidates to choose from.
You can also submit your CV for the opportunity to become a potential candidate in Navigos Search's candidate database.
The consulting team at Navigos Search consists of highly experienced recruitment experts who have a deep understanding of various industries and the job market. Based on a scientific recruitment process, our recruitment consultants proactively reach out, provide advice on requirements, and share tips on negotiating attractive salary packages, helping candidates shine in front of employers.
On average, every month, Navigos Search's consultants interview a significant number of senior-level candidates, offering quality job opportunities for job seekers across Vietnam.
Find your dream job at Navigos Search.
With over 20 years of extensive experience in the recruitment field, Navigos Search takes pride in providing high-quality job opportunities for mid-level and senior-level positions in large corporations and multinational companies throughout Vietnam.
We continuously strive to empower potential candidates to reach their dreams through our top-notch recruitment services, making us the number one professional recruitment agency in Vietnam.
Whether you're seeking an introverted-friendly job or any other mid-level or senior-level position, feel free to contact us immediately.
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