Never accept the first salary you’re offered, in desperation. HR managers, and even hiring firms, are incentivised to keep hiring salaries low and negotiate hard with individuals. Which is why, the first and foremost rule for good negotiation is that you should be able to walk away if required, says Kanchan Mukherjee, professor, organizational behaviour and human resources management, Indian Institute of Management, Bangalore.
“Desperation or your need for the job shows in your body language, how you speak, and that’s used by companies to hammer down salaries,” he explains. In India, with high competition for jobs, this desperation level is higher, giving an edge to companies.
“Our research shows that you will end up losing up to ₹2-4 lakh per annum on a base salary of ₹10 lakh if you don’t negotiate,” says Soujanya Vishwanath, co-founder, Pink Ladder, a career support company for women based in Bengaluru.
Start early
The negotiation starts with the first interview. “The interview is all about building your bargaining power,” says Mukherjee. “You need to make the company and the interviewer want you and realize the value you’ll bring. The more the company wants you, the better you will be at the salary negotiation stage.”
Continue reading “A millennial’s guide to negotiating a better salary”