Negotiating the salary can be the most overwhelming part of a new job interview or when you are up for a promotion. Asking the right amount of salary has nothing to do with your politeness. It is the price that you set for what you can offer to your employer.
Negotiating your salary is a challenge. However, if done right, it can create a drastic improvement in your performance and job satisfaction. Needless to say, it can also make a difference of hundreds of thousands of dollars at the end. Therefore, do not hesitate to ask!
Sometimes the employer might not in a position to negotiate the salary
For most of the regular jobs, employers fix the salary even before they start interviewing. If you come across such a situation, there are other ways to compensate for your salary expectation. So, in this blog post, we are going to discuss three ways to compensate for your salary, even when your employer cannot offer more for that position.
1. Ask to reimburse the tuition fees and membership subscriptions
If you are thinking of taking up any courses to do better in your new position, it will be a good idea to ask them to cover your tuition fees. This will be a win-win situation for both you and your employer. For example, by taking up these courses, you will be able to do better in your new role. And, you can get a chance to include them as qualifications in your CV.
Same goes for the professional memberships and subscription fees. If you run the numbers, most of the professional membership and subscription fees can add up to thousands of dollars every year. So, you can ask your employer to reimburse these fees, so you can stay relevant and build strong networks in your industry.
2. Ask for the allowances
Of course, there can be a standard set of salary allowances for every job. For example, in most cases, you will get a travelling allowance on top of your base salary. However, you can be creative and ask for more allowances that will be beneficial for both you and the employer.
This can be anything from buying new equipment to getting medical insurance. Also, it can be a monthly or one-time allowance. Do your homework and come up with a firm figure to compensate for your salary expectation.
3. Ask for an extended (paid) vacation
Usually, this is one of the easiest negotiation points when the money is off-topic. Most companies won’t mind taking you an additional week of vacation than having to increase your base salary.
And, you can use this extended vacation time to start building an extra income stream. So, in the end, it will worthier than getting an additional $100 on your monthly payslip.
Apart from making money, you can also use this extended vacation time to get a refreshing start for the next 12 months to come. You can use that time to learn something new or to gain a new skill. Sometimes, having enough time to recharge you is worth more than a thousand dollars on hand.
Negotiating your salary – Do it!
Do not sign that contract unless you could negotiate and compensate for your salary expectation. Otherwise, you will lose the job satisfaction, and you won’t be able to work on full steam.
It may feel impolite and mean to negotiate your salary with your future employer. However, you must remember that it is for your own good.