Are you an IT employee looking to increase your earning potential? Or perhaps you are currently looking for new opportunities, and want to make sure you have the tools and knowledge you need to negotiate the best salary for a new job. Salary negotiation skills are not something everyone has easy access to. But they can certainly be learned. Today’s article will provide you with a variety of tips to improve salary negotiation skills as an IT candidate.
Know Your Value
Knowing your value as an employee should be as much a part of your job search as preparing a quality resume or presenting yourself well in an interview. Do a thorough job of researching comparable positions and salaries for other IT careers so that you know what salary range you should expect with a specific company. Solid examples and hard evidence are the best support you can provide to backup your request for a higher salary.
Provide information such as your market value– in addition to your quantifiable contributions to the company– as a reference to your claim. A good tip is to connect with an IT Recruiter or HR professional who can help you determine what similar positions are paying. Those industry averages and market demand are high- selling points for your value and will help support your negotiations.
Research Your Company
Another factor that weighs heavily on the success of your salary negotiations is the financial stability and overall position of the company you are seeking employment with. Financial data for publicly traded companies is often available to those willing to do their homework. Other indicators of whether a company is doing well include an increase in new hires, expansion or opening of new offices, and other signs of growth. These performance indicators are important for you to recognize because if revenue goals are not being met, the likelihood that your employer is open to salary negotiations is very limited.
Emotion and personal reasons for wanting more money should not factor into salary negotiations. Whether you deserve a raise is determined by hard facts, your market value, company performance, and the quality of your work. Present your case for a higher salary in a rational and supported manner. If you are denied the raise you want, try not to show your disappointment. Take it as an opportunity to prepare for future salary negotiations by asking for feedback on how you can better provide your services such that you are able to meet your salary goals in the future. Take notes on the critique and deliver on improving your work product.
Expand Your Earnings
Think about your overall compensation when negotiating a salary. In many cases where actual take- home pay is firm, benefits such as extra vacation days, flexible work schedules, or performance -based bonuses are available for negotiation as well as a base salary. Be sure to include all elements of your compensation when negotiating your earnings.
For more insights into how you can improve your job search as an IT candidate, contact the staffing experts at Search Services today!