“I was told my expectations are unrealistic, but I am underpaid so why cant I ask for a salary hike?”
This young professional asked me this question.
I see several people losing out on offers just because of their expectations.
There is one important rule of negotiation I learnt the hard way after making several mistakes
“Whoever states the expectation first loses, the employer or the candidate”
A candidate wants more & the employer wants to pay less, both are justified.
Now the past salary is the most important tool an employer has to know where to start the negotiation from. It shows the current market price of the candidate.
Will you want to buy a product in the market which is double the market price? Not unless there is a scarcity 🙂
If the candidate has not been working, then employers know the person will be willing to join at the same or lower
So salary is a function of demand & supply
It is a simple financial transaction
Whoever brings ego & emotions into it loses
The avg range in the market in india for salary hikes can vary from -30% to 30%
This is based on data of having hired several candidates for several companies.
Thoughts?
