If you have an interview with a company for a job in Trinidad and Tobago, you might be so nervous that you don’t even consider talking about money for fear or missing out on the role. Then, if you get the job, you might be so excited that you simply accept whatever salary is on the table. According to surveys, more than 15 percent of employees never negotiated their salary! However, you shouldn’t listen to conventional wisdom which says to stay meek and compliant if the issue of salary comes up in the interview. We know negotiating salary can be tricky, so know what you’re worth and stick to your guns! Keep reading to learn some important information about negotiating your salary during an interview and quick tips on how to broach the issue when in the interview room.
Should I ask about salary during an interview?
A surprising number of people look at what they need to earn as opposed to what they actually deserve. One mistake people make is to add up their expenses and perhaps a little bit extra for savings and use that as their figure. If a job offers an amount that matches or exceeds this sum, most applicants will take it without hesitation or negotiation.
Unfortunately, this tactic ensures you negotiate from a weakened position; few people ever do well when negotiating from a position of need. It is important to remember that salaries are usually based on what you received previously. As a result, if you ‘settle’ for less than you deserve at the start, it is difficult to buck the trend as your career progresses. If you get the negotiation right first time around, the result could be hundreds of thousands of dollars in income over the course of your career.
How do you ask for a higher salary in an interview?
If you don’t know what you’re worth, how can you negotiate effectively? The key is to research the kinds of salary on offer for the role you’re applying for and work from there. Salary calculators are excellent places to start as they enable you to compare salaries and benefits for positions based on skills, experience, and location.
The goal is to find out what the market rate is for someone with your skills and experience. When you enter the interview armed with this information, at least you won’t be stuck if the issue of salary arises.
How do you talk about salary in an interview?
One of the golden rules in interview situations is never to bring up the topic of salary. However, it is incorrect to believe that you simply aren’t allowed broach the subject. The reason why interviewees are told to stay away from that particular discussion is simple. If you bring it up at the wrong time, the interviewer will believe you’re presumptuous and probably recommend against your hire.
If your salary range is way above the market rate, you’ll need to discuss it to ensure the employer is willing to pay if you’re the right candidate. No matter what, don’t discuss salary early in the interview process. Ease into the interview and make sure the conversation is smooth and comfortable. Only then can you talk money. In other words, negotiate the job first and the compensation last.
Ideally, the interviewer will bring up the topic. If they ask you for your current salary, don’t lie! This is one of the things you should never do in an interview. The company’s HR department will find out in any case so if you try to bluff your way into a larger paycheck, you’ll end up with nothing.
How much should I ask for?
First and foremost, don’t get caught in the salary requirements trap. You should have an idea of what you’re worth before you walk in the room; don’t allow the lowball salary to phase you as most employers are willing to increase their offer for the right candidate. For what it’s worth, try and keep your salary range within $5,000 to $10,000 of what is initially on the table.
Don’t focus on salary alone
Perhaps you entered the interview room hoping to get $70,000-$80,000 per annum, but the employer says the role offers $90,000 a year. It is easy to get carried away and accept any such offer, but this could be a mistake if you don’t analyze every aspect of the job and compensation package.
Consider other perks such as a company car, vacation days, sick days, share options and the flexibility of the schedule. If you’re not happy with some or all of what is on offer with regards to these provisions, maybe the job is not the right one for you after all.
You must also look at your career in a much wider context. Does this job include long and unsociable hours? How will this affect your work-life balance? How will it affect your family? Make sure the role and the company is known for offering career progression opportunities before signing on the dotted line. While it may be great to get $5,000 a year more now, how will you feel if you’re still earning more or less the same salary in 10 years?
Another tip is to negotiate each of your demands first and work your way down the list as each gets accepted or rejected. Make sure you begin with your most important demands.
KNOW YOUR WORTH
No matter what, you must always know your worth so don’t accept a salary and benefits package that you’re not happy with. If you come up with a salary expectation beyond what’s on offer, it’s important to provide justification for the demand. If you’re expecting a large salary and benefits combination, make sure you’re capable of proving your worth in the room.
When negotiating your potential salary during an interview, be confident and enthusiastic. If you do the requisite research, you’ll be able to come up with a salary range that is realistic and won’t ruin your chances of landing the job. Above all, don’t take ‘no’ for an answer straight away. If an interviewer rejects your initial figure, keep the conversation going to give you the best possible chance of finding a middle ground.
