Salary negotiation is a crucial part in the process of an interview irrespective of experienced and fresher. IT is difficult to decide the right amount for the offered job. There will be some factors which need to be considered while negotiating salary. Some factors are help for how to negotiate salary and some of them are mandatory.
Profile: Do prior research on your profile before applying for the job. List out the range of salaries for the each being offered in the industry. A preliminary research on your salary can help you to decide the package for which you are eligible.
Industry: Salary ranges differs from one industry to another industry. Some industries will be having different parameters in deciding the pay scales and performance appraisal methods. For EX: IT people get high pay packages than other sectors in the industry. These are the criteria which works in deciding a person’s salary ranges.
Location: Based on the cost of living of particular cities and location of some companies offer various pay packages. IT is also important to study about the various pay packages in various locations for the same job. Consider all these factors and accept the pay package offered by the interviewers.
Demand: The salary package changes along with the demand for the job and availability of the manpower for that particular vacancy. If many people available for one vacancy automatically demand will go down. It is also advisable to do study about the demand for people and their caliber in the job market. It will play an important role in deciding the pay package.
Benefits: When you are offered with a pay package it is better to find out the details about the complete compensation and the other benefits included in it. IT is also important to analyze the work culture, fringe benefits and other factors which may lead to taking decision in a proper way.