A few aspects need to be prepared for before facing a salary negotiation.
Fix the minimum and range :
To end up with the salary you desire, fix a minimum salary and a range. If the company has advertised for $40k to $50k, you can fix a range of $42k to $48k. The company always negotiates to keep it down, so to be on the safer side, raise your minimum to start the proceedings.
Understand your worth :
Most people do not value themselves as potential moneymakers, even if they are talented. It is better to know about your work and your worth. A research over the internet will make this process easier. You can also talk to friends you trust about this.
Interview performance and impression:
Salary negotiations mostly depend on how you perform in an interview. To ensure a better performance in interviews, prepare technically, talk with good communication skills and voice clarity, and dress to suit the occasion. Formal attire creates a professional impression, which in turn helps in salary improvements.
Experience and achievements:
Experience counts a lot in terms of salary, and a professional will excel here. Less experienced candidates can highlight some achievements during the short span. Freshers should know their value beforehand because they do not come with any experience.
A dip in the job market can lessen your salary, but search for competition in your field. If you smell less competition and scarcity for professionals, it is your best chance to set the bar high.
Never expect a great pay from a company when a weak economic condition is prevailing. In such cases, you should research about the company to know if it is stable enough to withstand an economic downfall.
Better salary is a result of better exploration. Explore the salary given by other companies, especially the competitor. Salary research can also be done by consulting trusted friends, and family. Also, remember to ask for a reasonable pay that the company can afford.
There is no point in standing stubborn on a fixed pay. Analyze the additional benefits provided by the company. A better work environment and an opportunity to grow fast is also an additional benefit.
Research about the company is very important and should be done before applying. It would be sensible to get into a company that can pay you more.
Finishing the negotiation:
Remember that a salary negotiation is not a war. A salary should be fixed such that the company can afford it and is not less from what you expect. It should be a situation where both the parties find a positive solution. If the negotiation is moving to an unsuccessful direction, you should know when to stop the conversation. If you are ready for the salary make sure you get it in writing.