Do you want a higher salary? You do, naturally. There’s nothing wrong with choosing to work somewhere where you can earn a lot of money. According to a Society for Human Resource Management study, 63 per cent of employees said compensation was “very important” to their total job satisfaction. Sadly, the minimum wage is unlikely to suffice, and the median increase is only 3%. So, rather than waiting for your wage to increase over time, how can you earn money quickly? By stepping up your job search and focusing on high-paying positions. External hires are typically paid 18% to 20% more than internal employees promoted to the same role.
Your first salary decides your growth in future. Make sure to give in your best and set your salary expectations right with the employer.
Here’s a guide to aiming for a high-paying job and how to negotiate for it.
First, let us talk about how to seek high salary jobs
1. Expand your skillset
One of the easiest ways to improve your CV is to prove that you have challenged yourself to acquire new skills to complement your areas of expertise. The more skills you possess, the more are the chances of you getting accepted for the job.
2. Develop your leadership skills
Regardless of how often the job market changes, leadership is still a quality that is in need. You can strengthen your leadership qualities by joining the executive team of a professional body or a non-profit organization.
3. Research companies’ financial health
Before you start interviewing for jobs, make a list of prospective companies you’d want to work for and do a financial wellbeing and stability assessment of each business. The stronger they are, financially, the more they will pay their workers. There are a few different ways to research it. For a public company, look at its most current quarterly earnings record to see profitability and net sales. (These are positive signs of financial growth.) If it’s a private organization, you will need to do a little more research, such as reading company reviews to see if the company is recognized for fair pay and job growth.
4. Take smart risks
To go for a high-paying job, you would most likely need to move outside of your comfort bubble and apply for high-paying posts that tend to be a challenge. Dismiss the entrance barriers. If you see a position you like and believe you can do it properly, don’t be afraid to apply. Try to ponder on what you can contribute and how you can improve the organization’s bottom line. Give them evidence that shows you’re can solve problems, someone who can take on obstacles and transform them into achievements.
Now, let us now talk about how to increase your salary by negotiating
A successful pay negotiation conversation is often the unwritten law for an attractive take-home package. This is a vital discussion to have during the first work interview. And besides, salary is profoundly important to all of us. After all, none of us will want to work for free. As a consequence, you need professional salary negotiating advice right away!
Every job description comes with a salary bid, and yours must be validated. In that scenario, you should preferably be negotiating 100% of the work opportunities that come your way. And anyway, the only way to get a salary that makes you happy is to negotiate. However, you are about to enter the business world. It is now time for you to know that the best way to negotiate a job offer and your yearly pay plan is through rigorous salary negotiation.
To help you, we have come up with several suggestions below, read and then apply them when you go to your next job interview!
- Patiently wait to negotiate
Don’t be in a hurry. Hold your breath before the hiring manager or interviewer makes you a proposal.
- Do not negotiate right after an offer is made
Don’t jump on the human resources individual with a salary estimate as soon as you get an offer!
- Do your research beforehand
Discuss the company with your colleagues and acquaintances to find out what sort of a paymaster it is. Ask some questions about year-over-year raises and future development through job roles as well, if possible. Once you’ve gathered all of these responses, you’ll have a firm ground during the salary negotiations.
- Do not be scared to negotiate
During salary negotiations, try to keep your feelings in check. Proceeding with the topic relying on gut instincts would be a mistake. Rather, request a raise based on information that you acquired from your acquaintances and crowd-sourced data available on the internet. Statistics will help you simplify your bargaining process, without worry.
- Rely on your talents
You are entitled to a fair deal focused exclusively on your skills and experience. Keep an eye out for industry dynamics to gain a greater grip during the conversation.
- Explore other means of compensation
Based on the sector you are about to enter as a fresher, you might be paid very differently for the same skills and abilities. Compensation levels may be affected by factors as minor as geography and expenses of living. So, delve into low or no-cost benefits such as the following:
- Growth opportunities
- More holidays
- Adjustable work hours
- Free food
- Discounted amenities such as a gym, laundromat, and so on.
- Be genuine and portray honesty
To gain the employer’s interest, strive to be friendly and truthful. Be considerate and respectful of the person in front of you.
- Do not be too pushy
Sounding too desperate or demanding a better offer regularly, can have a bad influence.
- Show willingness to compromise
Find a comfortable compromise between what the company is providing and what you are worthy of. Don’t be too stubborn, and try to place yourself in the position of the hirer at least once. As a young professional, you should always be willing to make sacrifices and negotiations.
The Bottom Line
A high salary does not necessarily mean high-quality work. You would accept any work offer that seemed financially appealing to you. As a newcomer, you must read up on facts from a variety of sectors. Yet if you get through, there seems to be a good chance you’ll have regrets about your choice and a job profile and skillset that aren’t a good fit.