Job application and income/salary negotiation
Many candidates have failed to get a job just because the income expected by both sides has a big gap that is uneasy to narrow. At what perception point do you know the future employer would accept/refuse/overpay your requested remuneration in a some interview?
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- THANH NGUYEN1310278372
Salary is also like a price of a product (YOU). Then the price can be decided by several element:
- is this product rare or commodity? ( meaning yr skillset is difficult or easy to find)
- does the product (you) offer many benefit to the buyer's need (i.e. Employer) ? - usually the gap is here cause u thought u can add more value while the emplyer dont see it that way, that's why they offer lower
- what is the price of sustitube or similar product ( i.e. Same position in the market or in that company...)
And there are much more a company can offer rther than money like training, grow opportunity, working condition, etc. So view all the package as a whole to have good decision...-
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A lot can be said about it, and it has been very well summarized in the previous answer. To turn to more of a real life case, if you are an applicant applying for a job/ position, you should first try to make a due diligence to find out what is the expected salary range (min and max) for the position. The max of a salary band could be usually 1.5 - 2.0 times of the market reference point (i.e., approx. the market average salary for similar jobs) while the min (entry level) starts from about half of that. Then try to "locate" yourself in the band: are you about in the middle, or closer to the max, or to the other end of the band? Then you can price yourself, and as a smart negotiator (but don't try to be too smart in the eyes of the recruiters), you can consider making markup by 5 - 20% on top of that "price", trying to get what you want at the end of negotiations... Of course there are other C&B elements to consider, too...
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