can i negotiate my salary if i'm a fresh graduate yes. but how sonal i don't have any work experience i'm not a tried and tested product. i still say yes this is the most common question i've been receiving lately and in this video i'm going to share with you why it's important to negotiate why it's uncomfortable.
HOW TO NEGOTIATE SALARY FOR YOUR FIRST JOB
three do's and three dots
why should you negotiate i'll give you a number half a million that is the amount of money you lose out by not negotiating throughout your entire career. what does that mean?
when you start in your career and you negotiate you will get certain increases every single year and there is a compounded effect versus someone who doesn't. and the growth is very different exponentially different.
that's life-changing money and i understand this data is from the united states and if you're not from the us or not living there you're like why is this relevant. it is still relevant it's a very good indication.
so you've got to ask because the worst case is they'll say no and now let's talk about why it's uncomfortable.
of course it's uncomfortable there's three reasons we have a fear the.
first fear is what if they say no. guess what that status quo anyway the second fear we have is what if they think i'm money-minded or greedy.
well it turns out 81 of all recruiters at some point or the other during the salary negotiation process expect you to negotiate it's all right.
the third fear we have is what if they take the offer away what if they rescind it. now i have to tell you that is very rare it can happen but the chances are like super miniscule. and and usually it's related to the culture of the company where you know speaking up is not allowed or you didn't ask nicely you didn't ask the way i'm gonna teach you.
now let's get into the do's and don'ts specifically the don'ts
number one do not skip the homework.
i'm going to tell you a little story when i started my career back in the year 2000 i heard a friend of mine got a certain amount of money and i was like when the time came they said what would you like.
i said i want that they gave it to me now i will never know till like till date what their budget was so don't do what i did also i think access to info was very different back then now you have glassdoor pay scale friends headhunters so much stuff on the internet.
see what a person would be earning in this position in this geography in this industry and make sure you know what is your minimum acceptable number from that.
the second don't is related to a mistake i made. again way back when is do not sign when an offer looks fantastic you're like but this is more than i expected so i'm just gonna sign. that is good practice to Negotiate Salary for your First Job.
there's a lot of things you can negotiate that you can think about later with the calm hair talk to family or friends um perks etc.
once you sign it's a little bit more definite so don't be in a hurry.
the third don't is don't be a jerk simple don't be entitled don't think you deserve it just because you asked oh bad idea. that has happened when i see the person's real character come out during a negotiation process and um they're like you know i'll you know this is my last offer take it or leave it.
well guess what the company will say ciao we'll find someone else now the three do's
number one be as creative as you possibly can if you see things are not going your way that's fine look at other ways and other things that you can ask for.
because remember when we are focused only on money we forget a little thing called income tax whereas there are certain benefits in kind that are taxed differently or not at all.
so you know getting that extra day a week or getting a you know a specific allowance to learn a language or to pursue an mba et cetera has a different value and you can monetize it over the long term i know you're starting your career and you think you're going to be young forever trust me or not.
what if you say you know okay i understand that you don't have the budget let's say i i perform better than you expected within three months or six months can the salary be increased.
so think creatively and think beyond monetary components as well.
the second do is showcasing your value and that actually should be sprinkled throughout the interview process so you know what their pain points are or you better know them uh if you're there in the interview process and see how you can help.
so if you've done project work you've done internships which directly will help them then say so help them to connect the dots hold their hand till they can see things your way.
because if you learned for example leadership skills in a project then talk about if you did um i don't know let's say you didn't have an internship but you did volunteer work because of covid and you raised money you can talk about all of that.
when you show your value somebody will be more willing to pay more for it. and don't forget you bring in a fresh set of eyes to their problems when people are employed over a period of time they don't see things a certain way that you do and you've got to highlight that.
the third thing is do detach yourself from the outcome. what does that mean go in with the view of learning as much as possible making relationships staying in touch with these people whether it works out or not don't worry because when you do that there's too much focus on will they won't they and you you take the joy away from all of it right.
the last thing i'm gonna share are two of my favorite quotes the first one is henry ford whether you think you can or you can't you're right. Also a great move before you Negotiate Salary for your First Job.
i cannot tell you how many comments i see from people saying this is crap advice this is never gonna work well it isn't gonna work because you won't give it a chance right and the same you know time i see hundreds of comments of how people have gone and negotiated anything from 10 to 300.
wow it's possible if you think it's possible and the second thing i'm gonna say is if you don't ask the answer is always no.
So this is how to Negotiate Salary for your First Job without hasitating.