Hey guys welcome to texted tutorials today’s topic is a little bit lighter

How to negotiate salary for your upcoming job now I see a lot of people in the forum they are getting new jobs and they are asking a lot of questions

how to negotiate salary increase

so I thought this is an appropriate topic to cover and I’m gonna show you step by step approach to negotiate salary so you get the best money that you really deserve so you might learn some new things that you didn’t know before so when the first question is why do we negotiate

you work hard for the interview you know the preparation and everything why not just work a little bit extra hard to get that the money that you really deserve also important thing is if you learn to negotiate and your salary

it might you might develop this skill negotiates the skill that you can use at your work or in your private life as well and it’s also important know that you are getting really good money because let’s say later on if you find out that your coworker is making more money than you do then it’s kind of a sad situation

you won’t be able to perform well so I think it’s best for I think your company as well that you get paid well as well

there is nothing wrong with negotiation a lot of people are afraid a lot of people don’t know how to do it but you need to free your mind and think that it’s it’s ok to negotiate and it’s important ago she ate and the companies

do it too so you should be able to do as well and remember this quote you don’t always get what you want you get what you negotiate alright so first of all because before we even start let’s understand this one fact

that company’s the HR department they do this day in and day out right so they know all the tricks in the book because they deal with the people they know all the answers to give and all that stuff right compared to you

you’re maybe changing job maybe every four or five years or even more than that for a lot of people so you need to really develop the skill to negotiate so they clearly have upper hand in the situation they also know your resume so

they know the whole history they might haven’t asked you they know your GPA

where did you work how much your salary was you know prior couple of jobs and they can even find out nowadays right compared to you you don’t know much about the company of how bad they want you or how much they’re willing to pay and all that stuff right but it’s not a rocket science with the right research

you can find all of it or at least in the vicinity and you can use that information to your advantage so that’s the first thing how much do they want you first clue is right after you interview

how fast they react lot of company would jump on the situation let’s say I interview today next day they’ll have an offer already that tells me that they are really they really need me okay or they have this position they need to fill right away and that doesn’t mean that somebody who you know come back to
you like month later are not also

desperate because sometimes it’s a budget situation like when they interview they may not have the budget
but you know month later the budget opens up and they really want you but if they jump on the situation and right after the interview they offer you that means they really need you what are the trick that I learn is what you need to do is when when they come back to you and say hey we like to offer you right
at that time you know they were ask you

when can you join usually it’s nice to say you know I need to give a two weeks

notice my current place and then I can join but instead you can do this you can say can I join month and a half later and if they’re ok with it then they then there’s something you know they they they may not need you right away right

But if they say you know no no you can join you know month and a half from now you need to join either too weak or right away you know make it possible if it’s right away based on that you can drive that how how fast they they want you also when you go for an interview you might meet let’s say three or four
interview right ask every one of them same question or when is this project starting is as a running project how bad do you want me to join how fast you want me to join or you know what is the situation a lot of these engineers

they would go give you the honest answer and based on that you can actually compile

this information to understand how bad they need you second question is what is their secret number the maximum number that they’re willing to pay now usually that that number is based on the budget but you can do some research on your own to find that out um ask your friends

if somebody knows somebody in that company because once you know that this company for this position they paid that in this vicinity

then you would know right so it’s best ask friends you can also look at the glass door they would then somebody would have said something about you know for this position I’m asking for this much and you might get some number in the ballpark I’ve also heard of this phone application called blind the way
it works is you know you log in anonymously

you can find the company that you are applying and then there will be like honest response from people who recently are hired and it’s all anonymous so you don’t really expose yourself but at the same time you find out really good information that is real let’s see if you go into a third-party

recruiter right now that recruiter is supplying a lot of people to that company so the recruiter may also know certain information because let’s say they hire two engineers right for the same same team and they might know that Lassen jr. got paid $100,000 or something like that then you can ask you can safely ask them find that number and that might be helpful and usually it’s in their interest and recruiters
interest to give you the right number because they want their money as well because if they hire you if they help

company how are you then they get their cut so it’s it’s their bad best interest that they get you in right so they will give you the right number the second question is how much do you make now that should not discourage you from asking more money much more money that you make but it is important to know
that right before they make an offer a recruiter would call you and they would ask you how much do you make right or they might ask you how much do you expect but the first thing would ask you

how much do you make at the current company or if you are unemployed then they would ask you what was what were you making before right if you give them incorrect answer and that might jeopardize the situation because let’s say if you making hundred thousand and if you tell if you tell them you make
hundred twenty if they find out it would be bad right so instead of saying your base salary you would just say you know

I would like to give you a full package amount so let’s say if you’re making X base salary then you would say okay then you would have some target bonus just maximize everything so let’s say if your

general bonus is five to ten percent keep take ten percent and then let’s say

if you making stuff some stock options take the maximum stock option that you received last last five years or something and then add it together and then create a package and then give them a package number say hey with with the vacation this and this everything you know stock options and everything I’m
making this much money all right and that would give them an idea of how much they need to offer you now generally if they they would give you more than what you already make it doesn’t really make sense to give you less because you’re not gonna move right unless they found out in the interview that you really

desperately need to move and you have no other choice okay but generally they would give you you know five to ten percent bump but you might want to look for bigger bump right so if you package this way they will give you a different package accordingly okay so now based on all this conversation they give you a package a recruiter calls you up and say

okay we have created a package for you we are sending me over please review it and let us know if you need any changes or just sign it and send us back okay so when you receive it take a sweet time because they’ll usually give you like a few days to look things over go through the entire package compare with your current benefit and take out all the cash value so your base salary is your cash value if they’re giving you some RS use some stock option stock options are tough to calculate rs use may be a little bit easier to calculate do not count bonuses because bonuses are not guaranteed so if they promise to give
you 10% target bonus that means you may

get 0 to 10 percent based on performance so I wouldn’t even count bonus at all vacation so let’s say if your previous company you were making 4 weeks and now

the new company they’re offering only 2 weeks vacation then you need to calculate that two-week deficit you know

how much in a cash you’ll be losing because you need to compare the entire package to package right then after you do all this analysis it’s time to make a phone call let’s say they really give you a good
package and you were really happy with it

well I would accept it right but if you feel like you need to you know push a little bit more get a little bit better

here you can go for it Colly recruiter and said look I looked at the package over I know I can really contribute to this team I’m a hard worker and I really want this job

however if you can instead of this much seller if you can bump it up to this much I think that would be really great and I’m ready to you know sign the paper

tomorrow now what they can do is they can come up with couple of answers they would say well we are giving you ten percent more than what you’re making and I think that’s really great and I think
you should take it right then you can also show some of the flaws in the package so for example if you are making four weeks before now you’re making two weeks before you had a 401k this one doesn’t have four on K or less foreign K oh you know all these differences you

can point that out and you can say well look I’m actually losing 5% here or 7% here so if you are saying I’m making 10% but I’m actually making only 5% okay I really want this job and it’s I love the work so I think I’m ready to take it but I would I’ll be really happy if you can get me up to it up to this level what they can do and they can come back and say yes we can offer this much or they

can say ah you know we can go somewhere in the middle you ask for five thousand more we can give you two thousand and that’s all we can do now it’s up to you to decide if you really want this right because you’re hitting that wall and one thing you can always do is like okay I can take 2,000 but can you increase the vacation or can you give us a sign a signing bonus I’ll be happy because if

you can get if you’re getting a little bit of Chucky’s signing bonus then you can balance things out right so you need to decide exactly what you want but you can always negotiate on other tiny

things to improve so that overall package would go up and if they’re absolutely steadfast saying nope any
more than this then again you have to decide what you really want to do do you really want this job

or you can can you let it go or find something else okay so it’s up to you but let’s say if they do agree to rework the offer make sure that you know down the point you mentioned and then ask them confirm with them that okay I’m expecting this much this much right so you’re gonna create another letter and
send it send it to me based on this information right want to make sure because otherwise what happens sometimes you know we negotiated something and they would put something in the in the letter and it may take a few days and then you have to call them again and say hey I think we negotiated then and the

guy might back off and say oh I thought you mean this or that so you want to make sure that you on the same page so on the phone you would say you know we negotiate this much this much this much can you send me a letter stating that or just email them right away so that you know there’s some sort of record so that they know exactly what what you agreed you guys agreed upon and once you sign the letter make sure that you call them

to thank them and make sure that they received it in time so that everything is good and jolly so you can start working mm-hmm if you know a little bit more inside than what I have covered please do share with me so I can communicate with my viewers

language I’ll provide the information in the description and thank you