How to Negotiate a Higher Salary ~ Pinoy Reviews

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Monday, January 5, 2009

How to Negotiate a Higher Salary

Okay, so with the worldwide recession going on, I'm sure looking for a different job is the least on everyone's mind. I mean, thank God you still have a job, right? But if you're one of those lucky enough to score a job interview then it's not such a bad thing if you try to negotiate a higher salary, right? Though most companies that are closing are financial institutions and banks, banking jobs are still the highest paid in the industry especially if you're on the top level. So if you're in a top financial position (except if you've been previously associated with Lehman Brothers), then you've definitely earned the right to negotiate your salary. Here are some tips on how you can get a higher salary.

Be confident but not egotistical. Yes, you've single-handedly brought the company you've worked for from a complete financial mess to a very sturdy company but of course, there's no need to tell your employer that it's all you, you, you. Try to spread a little modesty here and there and say you did it with the help of a team. You want to give the impression that you're not so egotistical that you're going to be hard to work with but you're a team player, thus justifying your higher salary.

Don't aim for the sky. Asking for a 200% increase from your previous salary is a definite no-no. Let's face it, times are hard and unless you're the financial consultant of Microsoft, a 200% increase is just too much. A 20-30 per cent increase from your previous salary will do so that you and your potential employer have more room to bargain.

Be up to date. Yes, paying for those seminars seem to be a waste of time but it is not so if you're looking for a new job. Be sure to include seminars attended or additional studies on your CV/Resume. Having an edge over your competitors would earn you the right to ask for a higher salary.