Getting a job itself is such a big deal when you are fresh out of college. And that is why most of the recent grads do not want to take a chance by negotiating salary for their first job.
Salary negotiation as a fresher seems a scary thing to do, as recent grads fear that they might lose the opportunity from their hand.
And that is how they commit the first mistake of their career.
Remember if the company has decided to hire you then they must have found something valuable in you. And a strong negotiation not only can give you desired compensation, it also creates a positive and strong impression on your future employer.
So even if you are a fresher and it is your first job and you might not get what you want at the end of the negotiation, still you should not let go of chance of negotiation.
Now let’s talk about how to do salary negotiation as a fresher –
Follow The First Rule Of Negotiation- Do Your Preparation
Do research on what is the salary range for a particular industry, job, skills, and experience level and also take location into consideration.
Gather as much information as you can about the company, offered role, growth path of people working here, and the average salary range for the position.
You can find out all the information from various sites such as Glassdoor, Salary.com, and Paycheck etc. Also, take help of your network and collect all the required information.
Wait Till The End –
Do not start asking about salary and expressing your salary expectation from the start. Instead, wait till the end, let them like you and select you for the position.
During the whole process, ask questions to gather more information about the job role, company, work culture etc.
Why is this important?
Because more question you will ask, more you will have an idea of your fitment against the role, how much they need you and what you can offer them in terms of skills.
You can use this information to decide your worth and understand company’s top challenges and later use this information during negotiation.
Read More : How To Calculate Your Market Value
Questions To Ask At The End –
Do not hurry, let them make the first offer. And then ask questions about it –
Salary Structure – What is one thing most freshers do is they do not ask about salary components. Mostly because they themselves are not aware of salary components. and that’s how they fail to get what they deserve.
So after the end of the hiring process, inquire about the salary components or salary structure.
Benefits –Such as insurance, leave etc.
Other Allowances -Leave travel allowances, shift allowances etc.
Performance Evaluation – Check about the performance appraisal cycle and parameters of performance evaluation.
Growth Chart– Ask about what growth plan they have for the position they are hiring for.
Keep The Confidence High & Attitude In Check –
After getting your queries solved, start the negotiation and follow the basic rules of negotiation –
*Don’t be rude.
*Don’t be too demanding
*Keep your attitude positive
*Remember it’s about achieving a win-win situation
*Know your priorities
Justify Your Demands –
After your opponent offers you a figure, then you should quote your range with an explanation.
Remember when you are a fresher there are high chances that your opponent will have an upper hand on you. So make sure to not let them dull your confidence and for that, you need to justify whatever you ask from them. And the research you have done earlier will help you in building your case.
Of course, you don’t have any experience to prove your worthiness, but you can highlight your skills and education and make a point that how this all will add value to the company.
You can also mention that how motivated you will feel if you start with this much package and you will be able to contribute in a more efficient manner.
Propose An Alternate –
If they are not ready to accept your proposed figure then ask the reason for the same. And then propose some alternate may be instead of fixed part ask for some other allowances or benefits, basically try to reach midway.
As a fresher, if they are not ready to negotiate then you can not push them. And during negotiation also you can not be too rigid about your proposal and high chances are your proposal might not get accepted by them but still, this will be a great learning for you as you have to deal with negotiations in your entire corporate life. And a strong salary negotiation as a fresher will help you earn respect from your prospective employer and it definitely creates a good impression.
So even if it’s your first job, you have a right to negotiate so do not let this opportunity go out of your hand.