Fresh graduates often lack experience in salary negotiation because this is their first stage in the real-life working environment. They may feel unsure or lack confidence in determining the right value for their salary.
Therefore, it is important to have the right strategies in salary negotiation that can affect not only your initial income, but also long-term career growth.
Here are some strategies that can help fresh graduates in their salary negotiation:
1. Do Research First on the Salary for the Position Applied for
Before getting into the negotiation stage, it is important to do some research on the salary range for the position you are applying for. You can use sources such as specialized websites like Jobstreet or others to get accurate information about the average salary for the position you targeting.
Because this will be your overview to know and set the salary standard that you will receive if you get the position you are applying for.
2. Set a Realistic Salary Target
Based on your research, set a realistic salary target. Consider factors such as location, industry, experience, and your qualifications. Don't set a target that is too low that you feel underappreciated, but also avoid a target that is so high that you miss out on opportunities.
It's important for a fresh graduate to understand that the start of your career will be a bridge to further career opportunities, and if you think of it as a time to learn and gain experience. Just make sure that the salary you get is in line with what you do.
3. Focus on the Value You Bring
During the interview and negotiation process, focus on the value you can bring to the company. Highlight the skills, experience, and achievements that are relevant to the position you are applying for. Explain how your contributions can help the company achieve their goals.
This will make the company think that you deserve a salary according to your capacity and ability in the job.
4. Don't Mention a Number Right Away
When asked about salary expectations, avoid giving an exact number first. Instead, show your interest in the position and the company. You can state that you want to understand more about the responsibilities and expectations of the job before talking about salary.
Because if you immediately mention a number, the company will judge you as a fresh graduate who is too bold and reckless. In fact, you might even miss out on a job opportunity that's already in sight.
5. Use Data and Facts
During negotiations, do not hesitate to use data and facts that support your salary request. For example, you can refer to the average salary for the position in the market or mention your achievements that are relevant to the position offered.
This will be a very important consideration in your salary negotiation process as a knowledgeable fresh graduate.
6. Don't Be Afraid to Ask Questions
If you receive an offer that does not match your expectations, do not hesitate to ask about other components in the compensation package such as health benefits, leave, bonuses, or the opportunity to get a salary increase within a certain period of time.
Because these things will be important considerations for your welfare as an employee in the company. And of course, it makes you confident that the company takes good care of its employees with the various compensation packages they provide. Thus, you will know what rights you will receive when joining the company.
7. Consider the Entire Compensation Package
In addition to the base salary, also consider other benefits and perks offered by the company such as health insurance, education benefits, training programs, and opportunities for career growth. Sometimes, the overall compensation package can be more beneficial than just focusing on salary.
For example, having good health benefits can reduce the burden of personal health costs and provide a sense of security for employees and their families.
8. Consider the Right Time to Negotiate
Choose the right time to negotiate salary. Usually, this happens after you receive a formal offer from the company but before you officially accept. Avoid delaying the negotiation too long, but also don't rush it so that you have time to prepare your arguments.
9. Maintain Ethics and Professionalism
During the negotiation process, maintain a professional demeanour and respect the ongoing process. Avoid appearing overly aggressive or devaluing yourself. Establish a good relationship with the HR or manager you are talking to, as this can also affect their perception of you.
10. Answer Wisely
Once you get an offer that you think is a good fit, consider it wisely before giving your final answer. Express your appreciation for the offer and make sure you understand all the pertinent details before making a final decision.
Don't forget to look at the overall value offered by the company, including base salary, bonuses, benefits, perks, and opportunities for career growth. Choose a salary that provides the best combination of financial compensation and other added value according to your needs and career goals.
By following the right salary negotiation strategy, fresh graduates can increase their chances of getting a compensation package that is more in line with their values and contributions. In addition, experience in salary negotiation can also help build valuable communication and negotiation skills for your future career.