MYTH : I could have asked for a higher salary in my new job.
REALITY : A higher salary might raise the expectation levels about your performance and these expectations might be difficult to meet with.
Even after signing the offer letter, the feeling of negotiating for a better pay still lingers in the minds of many, This is true not only in the case of junior positions. Actually, this becomes acute in key positions where the salary range is wide, and finding the right fit is a challenge, Sometimes, a candidate can sense the company’s urgency in filling the position and, therefore, he exploits the situation.
Companies resort to different means for filling key positions. For one, they might pay a handsome join-up bonus to make the salary look attractive to the new entrant. In a few cases, they could also go overboard by giving a higher salary compared to what an existing employee is getting so that the candidate finds the offer lucrative. Increased perks and retention bonus are some of the other tools employed. Some companies wish to play strictly by the rule book and ensure that the present employees should not be at a disadvantage, and so might reject a candidate asking for a higher salary. Sometimes, a candidate is puzzled at hearing the rejection as he had thought that the company would be open to salary negotiations.
Salary negotiations normally happen when the hiring manager spots that there’s a scope for converging views. If the manager feels that the difference in views is top wide, he will stop the, interview process. But in a few cases, even if there’s no convergence of views, the manager might proceed because he finds the candidate to be very strong and thus a must grab; he then asks HR to work out a ‘win-win solution. But if the interview panel is not unanimous or the feedback is mixed, then higher salary demands will further dampen a candidate’s prospect.
It is important for the candidate to ensure that the hiring manager does not !feel uneasy during the salary negotiations. The hiring manager can put the interview process on hold and wait for a few more candidates before giving the final answer to the candidate. Sometimes, even after, feeling uneasy due to some impression created by the candidate, the hiring manager might proceed with the offer of a higher salary, as the candidate is the closest fit given the timeframe. So, he might proceed with the offer, but it may take time to erase the bad impression that the candidate made.
Persistence In asking for an increase in salary level will set high expectations about the candidate even before he joins the company. This will put the new hire at a disadvantage— he will be under pressure to prove his worth quickly and will want to be productive at the earliest opportunity; he will be under pressure to produce the output required so that his manager feels justified in offering him a high salary. Now, if this person fails to perform and opts for a change, this high salary might become a deterrent in his job search.
It is more beneficial to grow with the company rather than join at a high, level and have a constant burden to carry. Even if one has negotiated well in the beginning, over the years the compensation package will even out with respect to your peers if the performance level is comparable.
WHAT CAN YOU DO AS THE EMPLOYEE? You should follow a few steps to pre-empt failure in your new job. Firstly, you should ascertain for yourself whether you are fit for the job. You should not depend solely on the view that, if the hiring manager is convinced, then you are automatically fit for the job. You should ask yourself a simple question: On what parameters will I be appraised during the performance review? Only when you are sure that you will be able to do the job well, should salary negotiations happen. To be successful in your new role, you should focus more on work and less on salary. You should be .: In sync with the manager on job assignment and expectations and review them periodically. This should be done in an honest and transparent manner. The manager will offer help if you seek it, As the learning curve might be steep, you should always admit when you do not know about something. If you start hiding your lack of knowledge, that will prove to be counterproductive.
WHAT CAN YOU DO AS THE MANAGER? You should not carry forward any bitter feeling due to the negotiation tactics used by the candidate. You are the hiring manager and the new employee will have high expectations from you. The new employee will look up to you as a leader and as someone who w11 help him get Inducted into the company and team well. The new hire will seek help and guidance from you and lean on you as the first pillar of support. It is also in your interest that the new hire should shine as it will reflect on your hiring skills.
