When it comes to negotiating your salary, the most common advice is to know your worth and ask for a raise of 15 to 20 percent from your previous salary. However, this approach might not always be the best. In this article, we will look at the salary negotiation process from a different perspective, focusing on the opportunity and risk involved.
Risk and Reward:
When you share your salary expectation with a hiring manager, there is a high risk that you might lose the job opportunity if you ask for more than the hiring manager can afford. On the other hand, if you ask for a lower salary, the hiring manager might question your self-worth and motivation to succeed. In either case, there is no reward for sharing a specific salary figure.
When negotiating your salary, it is important to avoid being rude or giving the impression of low self-esteem. Instead, you should express your confidence in the fairness of the hiring company and the hiring manager and your belief that they will make a fair offer within the industry and regional standards.
Let the Hiring Manager Make the First Offer:
One of the best ways to avoid the risks involved in sharing your salary expectation is to let the hiring manager make the first offer. By doing so, you have something to evaluate and can make an informed decision. Furthermore, if you hold your ground and avoid discussing your salary expectation until the hiring manager makes an offer, you will avoid being eliminated from the hiring process based on a wrong assumption.
Focus on Your Goals:
When negotiating your salary, it is important to keep your focus on your goals and priorities. For example, you can express your interest in learning from the best and contributing with your best abilities. By doing so, you demonstrate your motivation and drive, which can be more valuable to the hiring manager than a specific salary figure.
Here’s an example of how you can avoid sharing your salary expectations and ask the hiring manager for their offer:
During the interview:
Hiring Manager: “Can you tell us what your salary expectations are for this role?”
You: “Thank you for the question. I believe that this has been a very open conversation so far, and I trust that you’re a fair person and that Coca-Cola is a fair company. I believe that you will make a fair offer that is within the industry and regional standards. That’s all I’m asking for, I want to be treated fairly and I have no doubt that you will.”
Hiring Manager: “We insist on knowing your salary expectations.”
You: “I understand that this information is important, but I would like to avoid giving a specific number at this stage. My priority is to continue learning from the best and contributing with the best of my abilities. Of course, I want to be paid fairly within the industry standards and regional standards, but I believe that the best way to determine a fair salary for me is for you to make an offer first.”
when negotiating your salary, it is important to focus on the opportunity and risk involved. Avoid sharing your salary expectation and let the hiring manager make the first offer. Keep your focus on your goals and express your confidence in the fairness of the hiring company and the hiring manager. By doing so, you can avoid the risks involved in salary negotiation and increase your chances of getting a fair offer.