"I was given the option of accepting a fixed salary up front or a percentage of the film's future earnings. I accepted the advance payment. Nobody could have predicted what Halloween would become." Donald Pleasence is a writer.
Salary negotiations, if not handled with care, can become game changers. While salary expectations are affected by a variety of factors such as your current job status, the type of profile being offered, and so on, there are some basic questions that must be addressed in order to avoid missing out on a good career opportunity. Below are 5 common interviewer questions or responses, as well as suggestions for how to respond effectively instead of common reactive responses.
1] The Interviewer Inquires About Your Salary Expectations.
Instead of: I anticipate a 30% to 40% increase
A Better Approach Would Be:
The role is intriguing. I appreciate that you have your company's grades. I'll let you know where you think I fit in, and I'll evaluate the offer holistically and respond. (This allows for negotiation and allows the interviewer to make the first move. It serves as a kind of checkpoint to ensure that you are not completely off the mark and risk losing the offer. Because, even if you have used it as a negotiating tool, it appears inappropriate to immediately reduce your expectation to 10%).
2] Interviewer: Will You Accept A 7% Raise? Is That All Right?
Rather than: No, that is not motivating.
Better Strategy:
I recognize that you may have a basis for offering the 7% raise. However, I have experience and a proven track record in the specific domain/category that the role requires. You can see that in just 6 months, I increased my revenue from..... to...... and exceeded my targets for the previous two years. I am self - assured that I will be able to do the same for your organization. Please take into account the value I bring to the table and make the best possible offer so that it is a win-win situation. (Pay attention to the "value" you receive rather than the "price" you pay. It's possible that the employer is attempting to bargain and is assessing your initial reaction).
3] The Interviewer Inquires:
We can offer you the same salary (fixed), but the performance-based variable is more appealing.
Instead of: I need a raise in the fixed rate or else it's not motivating.
A Better Approach Would Be:
Okay, let me evaluate the offer as a whole, including the job role, prospects, and compensation. Could you please explain the variable pay compensation structure to me and how it works? (Continues the conversation. Open-mindedness is also reflected. You have the option of returning to your expectations after a thorough evaluation of the offer).
4] The Interviewer Queries:
We can offer you a lower pay than you currently have because we lack funds.
Rather than: It is unacceptable and demotivating.
A Better Approach Would Be:
I have X years of experience in the domain and industry and have progressed to a certain level. I've dealt with the same issues you are and am confident in your ability to grow your business. You might want to check my credentials and see what kind of value I can bring to the table. It will be a win-win situation if I can improve my performance while the organization supports me. Would you please explain why you are offering a lower salary? Could you please elaborate? ( The strategy is not reactive. Allows the discussion to continue indefinitely. It also depends on the circumstances. Maybe you just changed jobs two months ago and got a nice raise? Or for another reason. The goal is to assess and then make a decision. Many times, the job profile and career prospects outweigh the financial aspect).
5] The Interviewer Inquires:
Your salary increase expectations of 25 to 30% seem high?
Instead of: Yes, it is slightly higher, but I have seen similar increases in the past.
A Better Approach Would Be:
My expectations are based on the following:
A] My experience is 'distinctive' in terms of handling X. There will be a scarcity of talent with such expertise.
B] As I have demonstrated throughout my career, I am confident that I will exceed the company's targets/goals.
(You've seen my STAR performance awards).
C] I am also open to evaluating a combination of variable pay and a fixed component if it can get me slightly higher or closer to what I am expecting. I will leave it up to you to respond with the best possible offer that can be discussed. Because I am interested in the job profile and a long-term career with your company, I am open to understanding what you have in mind. (The emphasis is on 'value'. It also portrays you as a candidate with 'unique' expertise while also portraying you as adaptable and open-minded.)
Also, keep in mind that most businesses are moving toward a fixed plus performance linked variable combination, with the variable components becoming larger in terms of overall proportion as time goes on.