Myth 1 – The offer made by the employer is final: For many people the thought of salary negotiation does not even cross their mind. The belief is that the offer made by the employer is final and you either take it or leave it. Well that is not true and you can certainly negotiate the first offer made by an employer and ask for what you deserve/want
Myth 2 – If you ask for a lower salary you have a higher chance of getting the job: Quite the opposite actually. A good employer is not looking for the lowest cost hire but for the person who will perform best. Asking for a low salary might make the employer wonder why you are willing to make such compromises and whether you are a good performer
Myth 3 – Only base pay can be negotiated: Sometimes employers will not be willing to change your base salary but might be able to make adjustments in other parts of the package, such as housing and perks. So don’t leave those out
Myth 4 – Everyone has the same bargaining power during salary negotiation: Typically people who have performed well and also more senior professionals have more room for negotiating
Myth 5 – You need to guess what the fair salary is for the role/industry: In order to negotiate on strong footing and not just shoot in the dark, it is essential to conduct enough research. This can be done by searching the internet, looking at salary surveys/data and best of all, speaking with people who have inside/first-hand information. This will help a great deal when it comes to salary negotiation.
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