How To Negotiate A Better Salary
Hiring has reached or even exceeded pre-pandemic levels in many markets. On top of that, there’s a shortage of skilled professionals, which is increasing competition for top talent and driving up salaries. If you do not feel rewarded enough for your work, do not hesitate to negotiate a better salary in Bulgaria.
If companies work with agencies like Top Skills, the recruiting company will give us their salary budget and when we search for people, we ask them about their salary requirements. Based on the salary, and on their skills as well, we know if they qualify for an interview with Top Skills.
At the pre-interview, you are asked what your salary requirements are we can be sure they can meet them.
If you’re already working for a company and want bigger salary, you my you must handle the salary discussions and initiate the salary increase process. We also provide a guide to what to do in this situation.
APPLYING FOR A NEW JOB IN BULGARIA
Become familiar with industry salary trends
If you have specialised skills and have an impressive resume, you could be leaving money on the table if you don’t negotiate a salary offer.
In addition, if companies work with agencies like Top Skills, they give us their budget and when we recruit people, we ask them about their salary requirements. Based on them, and on their skills as well, we know where they can fit in.
You need to enter a salary negotiation in Bulgaria as informed as possible, you will find the going rate for your position and experience level and can adjust national figures for your geographic area. Pay particular attention to the “hottest jobs” and “most in-demand skills”.
The employer may be having a tough time finding someone with enough skills and experience, and that opens the door to negotiate higher pay.
Build Your Case
Once you receive the salary offer, don’t just counter with a higher number. If your research supports it, you’ll be more successful if you explain why you feel you deserve more. Highlight your strengths, detailing all the extras the firm would get from someone with your track record and try to negotiate a better salary in Bulgaria.
Before negotiating, jot down concrete examples of how your skills and experience will benefit your new company’s bottom line. Possessing certifications or specialised technical skills, for example, can enhance your ability to do the job.
Know the Exact Number
You should ask for a very specific number—say, 64,750 lev rather than 65,000 lev.
It turns out, when employees use a more precise number in their initial negotiation request, they are more likely to get a final offer closer to what they were hoping for. This is because the employer will assume you’ve done more extensive research into your market value to reach that specific number.
Talk to Recruiters
The recruitment agency knows what it means to you and them for you land the job and use their expertise are worth so use it to your advantage. Call them up before the interview takes place to see if they have gained any knowledge since you last spoke.
Don’t Bring Up Your Salary
If you throw out the first number, you might be negotiating against yourself, since it is possible the employer would be willing to make a higher salary offer than what you propose. “If you want to maximise your pay, the cardinal rule is: Do not bring up pay”.
If the employer directly asks how much money you would like to make, respond by asking what the budget for the role is. In all instances, wait for the employer to say a number first. If the number is lower than what you expected, you can always make a counteroffer. If it still comes up short, consider negotiating a raise six months into the role if you meet agreed-upon goals.
Consider the Benefits
Many people only negotiate salary and bonuses, but that is a mistake. There are many other elements of a job that can be negotiated.
For example, if you are currently paying out of pocket for your health insurance, can the employer reimburse those costs until your new benefits kick in?
Or if being able to work remotely or have more vacation time is important to your work-life balance, consider negotiating these.
Find out what terms are on the table so you can prioritise which ones matter most to you before the initial job offer. By doing so, you will be in a better position to negotiate.
Make All Of Your Requests At Once When Negotiating.
Don’t make the mistake of negotiating each benefit individually so that you are constantly requesting new terms. It is best to avoid negotiating each term piecemeal because it can be “a turn-off” for the employer.
Asking For an Increase and Negotiate a Better Salary in Bulgaria While Working for Your Employer
At the time of surging pay rates you may be falling behind the curve for your skills or want to take advantage of the recruitment shortage and request a major pay rise.
These are the tactics to use.
Plan the Right Timing
Timing is everything. Most people wait until performance review season to ask for a salary adjustment, but by that time, your boss has probably already decided what raises will be doled out to the team.
Start talking to your boss about getting a raise three to four months in advance as that’s when they decide the budget.
Set the Meeting for Thursday
Studies show that you’re more likely to get a raise if you ask on Thursday.
We tend to start off the week more hard-nosed and even disagreeable, but become more flexible and accommodating as the week wears on. Thursdays and Fridays find us most open to negotiation and compromise because we want to finish our work before the week is out.
Start With Questions
You should start the negotiation conversation by asking diagnostic questions to understand more about the other party’s true needs, desires, fears, preferences, and priorities. 93% of all negotiators fail to ask these “diagnostic questions” in circumstances where getting them answered would significantly improve the outcome of negotiations.
Asking questions like, “What are your biggest priorities right now?” can help you understand where your negotiation partner is coming from and offer up solutions that will help.
Show What You Can Do
Before you start talking numbers, talk about what you’ve done and more importantly what you can do.
Now’s your chance to walk through your accomplishments with your manager. If possible, print a copy for your manager to look at while you summarise what you’ve achieved this year. You’ll want to specifically highlight times when you’ve gone above and beyond in your role, which will build the case that you deserve a raise. Then, be prepared with a few thoughts on what you’re excited to take on going forward whether that’s freeing up some of your manager’s bandwidth by taking on an existing project or proposing a new idea that you’re excited to own.
Think About the Other Person
When preparing for negotiating, get in the mindset of thinking about the situation from your opponent’s perspective. Research shows that when we consider the other person’s thoughts and interests, we are more likely to find solutions that work well for both of us.
Stay Positive, Not Pushy
Negotiation may be scary, but you should always keep the conversation on a positive note. Kick off the conversation with something like, ‘I really enjoy working here and find my projects very challenging’. In the last year, I’ve been feeling that the scope of my work has expanded quite a bit. I believe my roles and responsibilities, and my contributions have risen. I’d like to discuss with you the possibilities of reviewing my compensation.
Put Your Number Out First
The first number put on the table is the most important in negotiation, since it’s what the rest of the conversation is based on. If it’s too low, you’ll end up with a lower final offer than you probably want.
You should always ask for more than you want. Psychology shows that your bargaining partner will feel like he or she is getting a better deal if he or she negotiates down from your original ask.
And don’t fear asking for too much. The worst that can happen if you give a high number is that the other party will counteroffer but the worst that can happen if you don’t negotiate is that you’ll get nothing.
You should never use the word “between” when negotiating.
Focus on Market Value
Rather than discussing a raise or new salary based on what you make now, keep the conversation focused on what the market is paying for people like you. Re-frame any metric your negotiation partner uses—like percentage differences—as market value, re-focusing the discussion on hard dollars.