The average monthly salaries for fresh graduates in Singapore

The Graduate Employment Survey results help fresh graduates negotiate a realistic salary

Each year, the Ministry of Education publishes the Graduate Employment Survey for each of Singapore’s universities: National University of Singapore (NUS), Nanyang Technological University (NTU), Singapore Management University (SMU), Singapore University of Technology and Design (SUTD), and Singapore Institute of Technology (SIT). The university of the Singapore Institute of Management (UniSIM), which has been renamed Singapore University of Social Sciences (SUSS), will be included in future years.

The survey gathers data from the previous year’s graduates for each faculty (with extensive data on each faculties courses) on the overall employment rate, full-time employment rate, basic monthly salary (mean and median), gross monthly salary (mean and median), and the 25th and 75th percentile for the gross monthly salary.

The survey results for each year are available on the Ministry of Education’s website (for NUS click here) (Google “Graduate Employment Survey” for other universities) – all are also available on the governments data and statistics website (click here).

The Ministry of Manpower also publishes this information in graphical format – click here.

Importance of this information during the job search

This information is important for fresh graduates to have to hand during their job search process, especially at interview. One of the strongest complaints that hiring managers have is the unrealistic salary expectations of fresh graduates and this marks them as uninformed – i.e. they did not do their research before the interview. Most hiring managers will not hire a candidate they deem as uninformed. Unrealistic expectations is also one of the reasons that a minority of graduates are not yet employed more than six months after graduation.

Armed with the most recent information on salaries for graduates from their university and course, fresh graduates can make realistic salary demands that will neither rule them out of the competition for being too high, nor be unfair to themselves by requesting too low a salary. Knowing the mean and medium salary bands, and the 75th percentile, for the previous year’s graduates allows them to negotiate a fair salary for themselves.

So what does the survey results show?

The main good news in the survey results is the fact that nearly 90% of the 2016 fresh graduates have secured a job within six months (the figure is highest for SMU graduates at 93.8%), proving that the vast majority of graduates express more realistic expectations to employers in terms of the salary and other conditions they are looking for.

The results also show that there has been a decrease of nearly 3% in the number of those securing permanent full-time jobs at 80.2% (down from 83.1% in 2015), but this is largely offset by the increase in numbers of those going freelance or into the ‘gig economy’, a recent trend demonstrated throughout the labour market in general.

The survey also revealed that the mean gross monthly salary for 2016 graduates who secured permanent full-time jobs rose to SGD $3515 from $3468 for the previous year’s graduates – a rise of 1.36%. As in previous years, SMU graduates in permanent full-time jobs secured a higher mean gross monthly salary of $3722.

But still do your research

Fresh graduates should not just rely on the summary data on graduate pay published by the newspapers and other sources – this provides a too general data to be useful in the job search. Instead they should go to the Ministry of Education’s website (Google “Graduate Employment Survey” for the relevant year) and look at the individual results for their university by faculty and specific degree. It is here that they will find the mean and median basic and gross monthly salaries, and the 75th percentile, from the previous year that they can use to realistically negotiate a fair salary for themselves.

How To Negotiate A Higher Salary: 10 Scientific Tips For Success

negotiating salary

There comes a time when you’re tired of waiting for your boss to recognize your achievements at work with a pay raise. Instead, you’re ready to ask for it yourself.

Or perhaps you’re about to get a new job and would like to negotiate a higher starting salary.

Many people are scared or hesitant to ask for a raise or negotiate their salary – or, even worse, they go about it the wrong way because they have no experience or training in how to actually make it work.

First, it’s important to settle one point: salary negotiation does not make you greedy or make you look bad. In fact, quite the opposite is true. Studies show that people confident enough to ask for validation of their hard work and achievements actually appear favorable in the eyes of employers.

However, the catch is that you need to know how to ask, as errors can backfire and actually set you back career-wise. So, what are some tricks that you can use to get that raise you’ve been waiting for?

Take a look at these 10 tips on how to negotiate salary, that might seem to make little sense at first, but in reality are proven to work.


Be Personal

Share something personal with your employer that humanizes you and makes you more trustworthy, instead of being just another face in the crowd.

If employers think of you as an actual person rather than simply an employee, they are more likely to empathize with your desire for a raise and grant you what you’re asking for.


Use Specific Numbers

An exact number such as $103,000, for example, instead of the more round $100,000, leads your boss to believe that you conducted research or otherwise thought this figure through rather than just coming up with it off the top of your head.

This makes your proposal more legitimate and thus more convincing.


Use a Price Range

You can be specific while also not limiting yourself to just one number.

Providing a range not only shows that you’re willing to negotiate, but also makes it more likely that you’ll get the salary you actually desire, if you provide figures that are both higher and lower.


Ask for Their Opinion

If you have a connection in the organization who may be able to influence your salary figure, ask them for advice.

This not only flatters the person (making them more likely to agree with what you ask), but can also give you an actual gauge of what you should be aiming for and what is the best approach to take.


Don’t Settle

It may go against our best judgment, but thinking of the negotiation as a “compromise” is not likely to land you the figure you desire.

Instead, thinking of it as a competition where you are trying to get something that your employer doesn’t want to give, will put you in the right mindset to achieve what you actually want.


Avoid Face-to-Face Interaction

Although we traditionally think that face-to-face negotiations are more personal and thus more likely to turn out in your favor, in reality they most often end up in a victory for the person who is already in power.

That’s because, among other things, the person who has less power – you – is subconsciously holding back out of a fear of displeasing their employer.

Instead, try starting out negotiations over email if you are talking to someone who is higher ranked or in a more powerful position than you are.


Make Eye Contact

It’s a sign of confidence that shows your employer you mean business, and also makes it harder for them to turn you down (while looking you directly in the eyes).


Bring up Your Concerns at the Start

If you aren’t happy with an offer you have received, let your employer know this at the beginning – although in a mature and not overly disappointed way, of course.

That’s because you have the best chance of negotiating when you have all your issues/points on the table and can talk directly with your employer, instead of skating around some issues and bringing them up sometime in the future.


Be the Starter

Starting out with a first offer means that you get to control the numbers you are working with in your negotiation – not your employer.

As a result, setting a high first number (higher than what you are expecting to receive) sets a standard for the discussion that will ultimately result in a higher salary for you.


Provide Just a Few Reasons

You’ll want to explain why you think you deserve a salary increase, but without boring or overwhelming your employer.

Choose the best reasons and list them out clearly and briefly. Stick to less than two reasons per argument.

Did you ask for too high a salary during your interview? Here's how to make a comeback

job interview expected salary too high

One tough job interview question to prepare for is this: “What were you expecting salary wise?”

Although this question may seem simple, it is often one the last questions you will be asked, making it of utmost importance that you end on a strong note.

In reality, there will always be times where an employer states/thinks that your asking price is above their means.

When this happens, you need to know how to make a comeback, and recover from stating an expected salary that is too high.

Here are some effective ways to approach this important interview scenario:


Request Information about the Full Salary Package

Once you’ve felt tension, simply ask the employer if they can share a realistic salary range with you.

Although it may be somewhat broad, it is unlikely the employer will state a range that is far off from what you can realistically expect.

Additionally, be sure to request information about additional compensation, such as allowances, bonuses, stock options and benefits associated with the position, as these can add major value to your negotiating power.

Sometimes the basic salary for a position might be low but the add-ons can make up for this. Also some companies might not allow much negotiation with the basic pay but are more flexible with the additional compensation.

In case you feel you asked for too much, you can also say that you were including add-ons and can adjust your figure once you have more details. You can also request for some time to go over the information and think about it.


Research Before Asking Again

Most people do research about salary expectations before an interview to avoid this situation in the first place, but occasionally your research may be misguided.

After you’ve experienced an awkward knockback from your requested price, it is time to sit back and do more in-depth research on platforms like Glassdoor and Quora using the new information you have received.

It’s also very useful if you can speak with ex-employees of the company to get a good sense of the typical compensation. Previous employees are more likely to share detailed information. Use your network to find such people – LinkedIn make it very easy to do this.


Reach a Decision

After you’ve determined a fair salary that you can realistically expect an employer to pay, you must make a decision on whether or not to take a job.

Be sure to consider all living expenses and needs before coming up with a number you will present to the interviewer during a follow-up. Also take into account how much you like the job/company and the prospects for future career growth.

Be firm with yourself about the smallest salary you are willing to accept, that way you can stay vigilant about reaching that bottom line when approaching the interviewer with your newly determined salary expectation.


Don’t Beat Around the Bush

Once you’re clear on the course of action it’s time to get back in touch with the interviewer for a follow-up.

Always make sure that you deliver this salary expectation with purpose, directness, and honesty, that way they know you are sincere in your request.

If you feel a higher salary is justified, let them know why, and they can then make a decision on whether or not they value your talent enough to pay the requested amount.

Overall, by avoiding wishy-washy requests, you will save both you and the interviewer a lot of time and frustration, allowing everyone to walk away from the situation happy.

8 Ways to Never Lose Another Negotiation

negotiation tips workplace

Whether you’re negotiating your salary, employment terms, or the price on your next car, a lot of things in life require negotiation.

When you’re able to negotiate well you gain access to better opportunities. And fortunately negotiation is a skill that you can improve.

When you start putting these 8 effective tips backed by science into practice, you’ll be winning more negotiations.


1. Start Aggressively

Far too often people are too timid with their first offer. Adam Galinsky a negotiation scholar at Columbia University notes that when people first enter a negotiation, their first offers are too cautious.

On HBS Working Knowledge, Galinsky uses the example of selling a house to illustrate this.

When a seller starts with a higher price, they’re much more likely to end with a higher settlement, he says. When the price is higher people naturally focus on the good attributes.

By starting your next negotiation aggressively, you will also be able to make small concessions and still wind up with a better outcome than if you started with a timid offer. When you start small you don’t give yourself any room to move.


2. Make the First Offer

The first offer creates an anchor that makes it very hard to move far away from. When you’re the person who makes the first offer, you have a lot more control over the outcome.

Kellogg management professor Leigh Thompson says it is vital for you to make the first offer. Even if the number is ridiculous, it unconsciously influences the outcome.


3. Understand the Situation

Next time you find yourself in a negotiation, take a step back and recognize whether it is a long-term or short-term negotiation scenario.

Most of life’s negotiations are long-term.

As Thompson notes in “The Mind and the Heart of the Negotiator,” there are only a few examples of short-term negotiation. He uses the example of a diner and a wait staff at a roadside restaurant. Other short-term negotiations could be when you’re negotiating the price on something you’re selling.

But for long-term negotiations, you need to also monitor the impression you’re making. If you’re negotiating salary for instance, you don’t want to focus only on the money and leave a bad impression at the start.


4. Mirror the Other Person’s Behavior

Many studies have verified that when people have rapport for each other, they mimic behaviors like body language and speech patterns.

When a Stanford-Northwestern-INSEAD study asked participants to mimic the behavior of the other negotiator, the results were astounding.

They didn’t just get a better deal, but both parties walked away with more.


5. Know How Low You Can Go

Known as the “reservation value” to scholars, before entering a negotiation you must know your bottom.

Although we always hope to do much better than our reservation value, knowing what yours is protects you from accidentally taking a deal you shouldn’t have.

Plus it also provides you with a point of reference when determining if this deal works for you.

Knowing your reservation value also helps your negotiation psychology. When you have an anchor set in your mind, you’ll be less influenced by the other person’s offer.


6. Focus on Your Potential

In a Stanford-Harvard study, evidence emerged that showed that a person’s potential is more valued during a negotiation than their past accomplishments.

The study’s authors noted that the uncertainty associated with what someone has the potential to do in the future is more engaging than just looking at their past.

During your next negotiation, share what you will bring to the company and the value you’ll add rather than just listing off past accomplishments.


7. Share Something Personal

When Northwestern and Stanford students were asked to negotiate over email, some went straight to business.

Other students talked about their hometowns and other personal details.

Startlingly those that shared personal details reached an agreement 59% of the time, while the business-only students negotiated an agreement only 40% of the time.

Especially during those tense moments at the negotiated table, take some time to get to know the other negotiator and share some information about yourself. You’ll be more likely to reach an agreement.


8. Keep Your Options Open

The best negotiators, Neil Rackham notes, negotiate everything as a whole rather than taking on one piece at a time.

“Sequencing” items limits outcomes. By negotiating salary first and not talking about vacation time, you lose the chance to generate creative solutions.

By leaving your options open, you can suggest trading a bonus or vacation time for a higher salary. Take a big-picture view and you’ll find more ways to reach the outcome you want.

Are you excited to put some of these tips into practice during your next negotiation? You should be. With these 8 scientifically-backed tips, you’ll be negotiating better deals and getting more of what you want.

Tips for Negotiating a Higher Salary

salary negotiation tips techniques

In order to award yourself with an edge in any situation that calls for salary/price negotiation, it is ideal that you offer a range to increase your chances of getting an offer close to your goal.

Such range offers can lead to a better outcome for you, as compared to the alternative of proposing a single figure.

When negotiating your starting salary or a pay increase, for example, if you want a salary of $100, you may consider proposing a range $100 to $120.

By doing so, you increase the chances that at a minimum, you will get the salary you were looking for. If you’re lucky, you may receive a bonus of $10 to $20.

To negotiate salary in this manner, there are a few different approaches that you can take. The various styles of range offers have different success rates, according to a study led by professors Daniel Ames and Malia Mason at Columbia Business School.


Bolstering range

This consists of starting your proposition at your desired target amount and stretching it to a reasonable maximum.

So if you are looking to earn $60,000, you want to set your range from $60,000 to $65,000.

When negotiating salary, the bolstering range offer method seems to be the best strategy to use. It leads to the best amount for you and does not impact your relationship with the counter-party.


Bracketing range

Bracketing offers are when you are aiming for a starting salary of $60,000, and you set your range between $58,000 and $62,000 to better your chances of securing the median, which would be your desired amount of $60,000.

In the Columbia study, this approach didn’t lead to outcomes which were better or worse than single number offers. However, they could have the benefit of improving relationships.


Backdown range

This offer may be the least favorite method since you have a greater chance of ending up with less value than your starting point. If your starting point is a salary of $60,000, the backdown range offer suggests that you provide a range of $58,000 to $60,000.

This method is preferred the least, since it causes you to lose value compared to other approaches and only improves relationships slightly, when compared to single point offers.


how to negotiate salary

You may think that range offer strategies are bound to fail because the other party might think you are uninformed and will make the lower end of your bracket their focal point. However, professors Ames and Mason demonstrated that they are more successful.

The reasons for this, are that providing a range makes you appear nicer and more flexible. Also, it puts an unconscious pressure on the other person, to return the niceness/flexibility.

One important point to keep in mind, is to provide numbers which are reasonable and not too high. Also, the range you provide should not be too wide. The most effective range offers and within 20% of each other.

When negotiating salary, Ames and Mason also suggest providing more precise numbers, instead of rounding-off. For example, $59,500 instead of $60,000. This has the effect of demonstrating that you have done your homework and are more informed.

Studies Reveal 7 Tips that Will Help You During Your Next Interview

job interview tips research studies

As you know, landing the job has a lot more to do than with just having the right resume. Not only do hiring managers look at your skills and employment history, they also want to make sure you’re a good match for the company culture. And the most common way hiring manager to do that, is through job interviews.

After researchers conducted numerous studies on the topic of job interviews, certain trends began to emerge. And when you learn the tips from these findings, you’ll be ahead of the competition during your next interview.


Set the Tone

In a job interview, first impressions are even more important than when you meet your in-laws for the first time. And numerous research studies show that the first impression is the most important part of the job interview.

When you learn to set the tone and shape your first impression, you can influence the outcome of the entire interview.

You can enhance your first impression by rehearsing a few lines about why you are the right person for the job. Research shows that this will influence the structure of the hiring manger’s memories around the session.


Feel Confident

Research clearly shows that people who felt powerful during an interview performed better. In one study, researchers primed a group of people with powerful images and the judges significantly preferred the power-primed candidates.

Another technique introduced by Harvard researcher Amy Cuddy called the “power pose,” can actually increase feelings of confidence in less than 2-minutes.

Whenever you’re about to enter a job interview, find a private place to practice a “power pose” Cuddy suggests. This pose involves making yourself bigger with your feet apart and stretching your arms up in a V-shape. If held for just two minutes, levels of testosterone have been seen to increase, along with a decrease in the stress hormone cortisol.

Here is another technique to summon confidence when you need it.


Cultivate Similarities to the Interviewer

Multiple studies have found that the key to acing a job interview and being liked by the hiring manager is being similar to them.

After careful study, it was found that the single most common mechanism utilized in the hiring decision was a candidate’s “similarity to her interviewer.”

With this in mind, enter your next job interview with an observant mind. Pick up on the cues the interviewer is giving off to you. Do they value education? Or real work experience? Do they have an outgoing persona? Or are they calm and reserved?

Identify these traits in your interviewer and mimic them slightly. You can also mimic body language which has been shown to build rapport. If they lean forward, you can as well. If they cross their legs, you can too.


Timing Your Interview

Although this might be out of your control, it has been shown that interviews conducted under certain circumstances actually have better results.

For example, research indicates that an interview goes better when it is held earlier in the day, the weather is sunny, and when you’re interviewed on a different day than your strongest competition.


Negotiate Salary the Right Way

The research on negotiations is deep and powerful. But the biggest factor to sealing the deal on a big offer is one thing according to Harvard’s MBA school. “They need to like you.”

According to Prof. Deepak Malhotra, the key to getting a higher salary and a better job offer is that they need to like you. And if you do things that make them like you less, you’re going to be less likely to get what you want. And second, the hiring company has to believe that you deserve it.

Therefore, the key to negotiating salary begins long before the job offer is made. You must build rapport with the interviewer and get them to like you. By using the other tips in this post, you can do that quite effectively.


Give a Strong Handshake

During a job interview, your handshake means a lot. In the few seconds it takes to give a handshake, a lot of information is conveyed and you can learn a lot about a person.

According to researchers at the University of Iowa, a strong handshake was even more important than other aspects of a job interview. The research has shown that the handshake is even more important than conscientiousness, agreeableness, or emotional stability.

The quality of the handshake has also been shown to be related to the quality of an interviewer’s recommendation.


Ask the Right Questions

When the interviewer inevitably asks you “do you have any questions for us?” they’re giving you an opportunity to really demonstrate your strength.

Not only does this section of the interview give you an opportunity to learn more about the role and the company but it also gives you an opportunity to impress the interviewer with insightful questions.


Preparing for Your Next Interview

As you prepare for your next job interview, incorporate these 7 tips and use research to your advantage. Not only will you be more likely to land the job by using these tips, you’ll also potentially receive a higher offer.

Are employers open to salary negotiation in Singapore?

negotiate salary singapore

As per a survey by JobsCentral, the answer is yes! You can and should engage in salary negotiation in Singapore.

salary negotiation in singapore

So don’t leave any money on the table and sharpen your negotiation skills by using the techniques outlined in these articles:

9 Salary Negotiation Tips, For After You Receive A Job Offer

In previous articles we talked about how you should prepare for salary negotiation and the best time to negotiate salary.

In this post I wanted to discuss what you need to do, for effective salary negotiation, after you receive a job offer in Singapore.

  1. Don’t give the impression that you are accepting the offer right away. Thank the employer for making the offer and mention that you are excited about the possibility of working with the company. However, also state that you would like some time to think about the job offer, go over the details and discuss with your family. After that you will get back to them.
  2. Go over the job offer letter a few times and ask a family member to do so as well. Make a note of key points and in case it’s not provided, make a list/table of the entire compensation package in one place. This should include base salary, possible bonus, allowances, perks and so on.
  3. As a thumb rule, assume that the initial offer provided by most employers in Singapore is not the most they can give. There is usually up to 20-25% of an upside, depending on the company, industry and economic situation.
  4. Fix a meeting (not a phone call) with the employer to discuss the offer. Don’t state explicitly that you want to engage in salary negotiation. Position it more as a discussion on the overall offer and an opportunity for you to ask them a few questions.
  5. During the meeting start by asking any questions you have about the job offer. That serves as a good warm-up.
  6. After that you can get to discussing the salary. Remember to think of it as a discussion and not a demand that you are making. That will help you project the right attitude and also make you more comfortable with the process.  So don’t say something like “I want XYZ.” Instead say, “I wanted to discuss the possibility of increasing XYZ by X%.” Don’t ask, Discuss.
  7. Try to keep your request short and sweet. Don’t go into verbose explanations of the reasons behind your request. Put the employer on the spot and let them do the talking. Silence and talking less are the best negotiation techniques.
  8. In case the employer says No, try and understand the reason behind that. This will give you a better picture of their  perspective and limitations, which can help you suggest/arrive at alternative solutions.
  9. Speaking of alternative solutions, don’t limit your salary negotiation objective to getting a higher basic salary. Think of compensation in a broader sense, in terms of what you can get from an employer. Often employers in Singapore find it harder to budge on basic salary but it might be easier to give more bonus, allowances, insurance, perks, leave days, formal/external training and so on.

To Win At Salary Negotiation, Put On Your Detective Hat

salary-negotiation-research-win

The most important action you can take, in order to win at salary negotiation, is doing some research on salary levels for the function, company and industry in question.

By arming yourself with such information you will have a sense of what is fair and know what to expect. This puts you in a very strong position.

Before you go for the interview, here is the research you can do to help with your salary negotiation:

  • Have a look at public information on salaries. Information on the function and industry is easier to obtain but often you will find great data for a particular company as well. Typically recruitment firms, job sites and government agencies conduct salary surveys and publish their findings. So all you need to do is search for such publications for your city/country.
  • Get in touch with people you know (friends, family, classmates, etc.) who have experience working in the field/company and get the inside scoop from them. These people are a great source of information and you can get detailed insights from them, for specific companies as well (which is priceless). Ask them for all details of the salary levels and also how compensation packages are structured (split between base pay, bonus, allowances and so on).
  • To get more company specific information you can also contact people you don’t know, who are not working in the company currently but have worked there in the past. With social networks such as LinkedIn this has become much easier and you will be able to get a handful of people to respond to your request.

During the selection/interview process you can perform salary negotiation better if you:

  • Find out enough about the role, including the exact scope of your responsibilities, results that are expected from you, average working hours per week, amount of travel and so on. This will help you assess what you would consider a fair salary, given the benefits you will be providing the company and the amount of time/effort you need to devote.

Taking these actions and doing enough research during the process of salary negotiation, will greatly improve your chances of getting a good compensation package. It will also help to show employer representatives that you do your homework and have a professional mindset.

When Is the Right Time to Talk Money During Salary Negotiation?

salary-negotiation

Cash might not be the only reason that most of us bother ourselves to go out to work, but of course it is a major consideration.  When is the right point in the candidate selection and salary negotiation process though, to talk about compensation?

Okay, the first thing to say about salary and benefits is that there are actually various stages of the selection process when employers are typically keen to tempt applicants, if not into a discussion, then certainly into revealing important information about current or previous levels of earnings.  As you will see, however, there are some excellent reasons why it is in your own best interests to delay.

The first point at which compensation is often raised by employers is as soon as they invite applications from prospective candidates.  Some job advertisements state specifically that applicants must divulge their current, past or expected earnings in order to be considered for the position.  There are, however, several major problems with complying with such a request.  First of all, no matter how well-qualified or well-suited you are for the job, if the figure that you reveal is too high, then there is a very strong chance that you could actually put yourself out of the running before your application has even been properly considered.  If the figure is low, on the other hand, then you could find yourself struggling with salary negotiation and getting suitable compensation if you happen to be offered the job.

With regard to current or past earnings, however, there is an even more important reason why you should try to avoid revealing this information, and that is simply that there is absolutely no correlation whatsoever between any job that you did in the past or the one that you are doing currently and the one that you are now applying for.  Even if the job titles were the same, the tasks and responsibilities, the required levels of skill and experience, the company itself, your colleagues and co-workers and perhaps the hours and annual leave entitlement would all be different.  Trying to compare the two jobs and the appropriate compensation for each, therefore, would be like trying to compare apples with elephants and so each new job should only ever be considered on its own merits.

What many employers will typically assume if you do choose to reveal past or current earnings is that a further 10-15% on top of this will be enough to keep you happy, and so getting any more out of them can then prove to be extremely difficult, even if the position warrants a higher salary.  If you are asked to reveal current or past earnings at the point of application, therefore, try to skirt the issue by indicating that you will be happy to discuss it at the appropriate time, when you know more about the job and other important factors.  If you are asked to reveal your salary expectations, meanwhile, either use the same tactic or, if doing so would preclude you from applying, then do your research and indicate a reasonable salary range (a range, not one figure) for the particular role that you are applying for, in the particular location where you are seeking employment and for a person with similar skills and experience to your own.

Of course, the next point at which employers are likely to raise the issue of money is during the course of a job interview, but entering into discussions even at this stage could find you facing precisely the same problems as earlier on in the process.  In addition, however, if the recruiter thinks that you are the most suitable candidate for the role and you indicate during your interview that you want more money than their second choice of applicant, you could find yourself losing out on a job offer which might otherwise have been yours.  Again, therefore, if the interviewer tries to bring the subject up, simply tell him or her that you will be happy to discuss compensation at the appropriate time.  Incidentally, never raise the issue of money yourself during interviews, for the simple reason that all employers care about at this stage is what you can do for them and bringing the subject up is only likely to make them think that you are only interested in the job for what you can get out of it.

So, if the application and interview stages are not the appropriate times to discuss salary and benefits, when is the right time?  The simple answer is this: the only time when it is appropriate to talk about money and engage in salary negotiation is after you have received a firm job offer, and even then it is important to remember that you should be negotiating for what is reasonable for the job that you are applying for, not the one that you are doing currently or any that you done in the past.  Never raise the issue of money yourself before this point and if the employer happens to do so, then do your best to dodge the issue.  Employers aren’t stupid and most know that they are pushing their luck when they ask about current, previous or expected salaries, and so in many cases they will accept polite resistance and let it go until the time is right.

Busting a few salary negotiation myths

pay salary negotiation tips myths

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.