Salary Negotiation Skills: Do You Have Them?
If you're considering switching jobs, you'll inevitably face one challenge: negotiating your compensation package with a potential new employer. This task often leaves many feeling hesitant to broach the subject or unsure how to proceed.
While a few individuals may engage headhunting firms to handle this, most must conduct these negotiations themselves. In such cases, the "Future Value Method" proves to be an effective approach.
Salary Negotiation Techniques
You could start the negotiation like this:At my current company (or "previous company"), my salary is 8,000 yuan, and I primarily handle marketing promotion. If I stay at my current company, I expect to be promoted to Marketing Manager within a year, at which point my salary would increase to 10,000 yuan. Therefore, if I join your company, I would like my salary to be 9,000 yuan. Additionally, I anticipate being able to increase your company's market share by 1 percentage point."
In salary negotiations, a job seeker's compensation at their previous company often serves as a reference point for the new employer. However, it's crucial to focus not just on your "current" salary but on your "future" potential—specifically, your projected career trajectory.This "future assessment approach" can help candidates secure a more favorable compensation package. Therefore, during this phase of negotiations, candidates should not only clarify their current salary structure but also communicate their growth potential and future aspirations, thereby laying the groundwork for requesting higher compensation.
If the hiring company expresses reluctance to offer such a high salary,the candidate can respond: "In this regard, I previously commissioned a headhunting firm (or professional consulting firm) to conduct an assessment. According to expert opinions, the current market compensation range for a professional manager/specialist/salesperson with over a decade of experience like myself is between 8,000 and 12,000. Therefore, I request that your company offer me a salary of 9,000. Objectively speaking, this request is not excessive."
Thus, savvy negotiators proactively commission headhunters or professional consulting firms to conduct a compensation valuation report before negotiations, using it as a basis for salary discussions. When candidates present such a "compensation assessment report," their bargaining position naturally becomes more confident.