Answer by Sensei Uexi:
————————–

Dear ManNeedsMore88,

An important question, indeed! In this world, it is quite common that what we earn is influenced more by how well we negotiate than the intrinsic worth of our abilities.

Some tips for you to maximize your ask –

1. Research your ask: Firstly, learn to research and calculate the median salary range for your capabilities and experience. You can use websites like Ambition Box, Glassdoor, PayScale, or LinkedIn Salary to get an idea of what others in your position and location are earning. Also visit the company website, study their business a bit and also study the JD.
2. Maximize your perceived value: Armed with this research, now you have to place your value at the upper end of the median salary range, by highlighting any unique skills and experiences that can make you more valuable for the job and the business. These unique skills and the value will provide you the upward variation for the market median salary.
3. Focus on RoI for the Employer: A company that employs you is putting money into you, and expects a return on their investment (RoI). So, if you highlight the ways in which you bring a higher value to the company, then that will be seen as something that is good RoI for the company.
4. Negotiate with flexibility: Remember, the recruiting HR may have a pre-defined upper-limit for the package that they may offer. Within this upper-limit, you can see what aspects of the total package are more valuable to you and what you can compromise on without much adverse impact on yourself. Thus, you differentiate between ‘Compensation’ and ‘Benefits’. For example, if the job saves you an hour of commuting everyday, you would be wise to take that into account as an unspoken perk of the job. As an example, a family person with young dependent children may choose a more convenient job which offers flexitime, while a person without any dependents can choose a job with a higher CTC.
5. Stay professional: Always keep your demeanour and attitude professional even if you do not feel delighted by the potential employer’s offer. Remember that your worth is not determined by what the company is able to offer, and nor should you negotiate with a sense of entitlement. While being very polite, you can also be clear and firm about what is acceptable to you and what does not work for you. Show your appreciation for being considered, even if you decide to walk away politely.
6. Pre-decide when to walk away: If you are clear about what you want and what you do not want, then you can decide to walk away at a pre-defined point, when it becomes clear that you will not get what you want, despite being flexible in a considered manner.

Remember, salary is only part of what you get out of a job. If you are getting sufficient compensation, then after that you must focus on getting things out of it that are more valuable than money.