Salary as a word is understood by many people as the reward giving to an employee at the end of his service. It is the money paid by employers to those under their employment to show that they have successfully implemented their job schedules for the period under review. This could be a weekly, monthly, or yearly. It is also known as ‘remuneration’
As a job applicant, the organization you have applied to or intending to apply to is not under any obligation to start paying you monthly or weekly stipends until you have successfully scaled through the various stages of interviews as the case may be depending on the style of the organization.
In this article, I am going to briefly discuss about what you need to before you start your salary negotiation after an interview with your prospective employer – yes, I use the word ‘prospective’ because you are yet to be fully absorbed into the company as an employee.
Salary negotiation is key that determines if you will get the job or not after an outstanding interview with your intending employer.
The following steps will help:
1. Before you go for any interview with any organization, do an online research of the company based on;
- Structure – as yourself, does the company has shareholders and board of directors?
- Organization Size – find out what the size of the organization is. Is it a start-up, small, medium or large enterprise?
- Capacity – Ask yourself if I negotiate and arrive at a certain amount, does the company have what is takes to pay me?
- Job Security – After winning an outstanding salary what next? Is my job secured? Is it a place that I will work and have peace of mind? Or will I be laid-off after 6 –months?
- Management Structure – What management structures are in place, is it an autocratic, democratic or laissez-faire (an indecisive leader).
2. Equate your expected salary to the current reality of what is obtainable in the labor market today. Don’t overrate yourself based on your qualifications. E.g. I am a Bs.C, HND and so…holder therefore, I must be paid higher).
Take it or leave it, your certificate/degree is just an instrument which qualifies you to apply for the job and not for employment. *Intending employers now give more priority to skills than qualifications.
3. Put your expected salary based on your level of your qualifications within the following range:
- SSCE – (20 – 40K)
- ND/NCE – (45 – 65k)
- HND/Bs.c – (75 – 150k)
- Ms.c/MBA – (160 – 220K)
If you are a Ph.D holder, it calls for special attention depending on what you want.
4. Volunteer to work without pay : After you might have studied the organization before applying, you could volunteer to offer your services to them for free as long as there is an avenue for growth. This could serve as an opportunity for you to grow your skills that would lead you to another bigger job offer you never expected.
5 . Be considerate in your negotiation: Sometimes the organization may have good welfare system such as health insurance, job security, 13-months salary, car allowance, house allowance and many more in place for employees but could not afford to pay you the amount you want to collect as salary. In this case, you have to really think deep by evaluating the worth of the welfare packages in monetary terms before rejecting the offer because the low salary condition.
6. Lastly, do not over expect – Before going for the interview, put off the mindset of high expectations and demands. It could put you at risk of making you to feel sad and disappointed if at the end of the day your expectation is not met. It is still fair if at the end of the interview you are not offered the job and return happily than being emotionally down due to disappointment which could lead to psychological disorder.
In summary, better jobs with good pay are for those that are prepared for them. Take your time to build up you skills set by engaging in personal and group project that will make your resume’ to standout during interview and you will see your expected salary rolling into your bank account at the end of every month.