Salary Negotiation: Ideas For Mbas

Across the globe, students of management courses study hard and work day and night to get their degrees and successfully land their dream jobs

. In case you find yourself in a place where it has come down to salary negotiation with a prospective dream employer, here is what you need to do.

Every student of management is very clear about their ambitions. The student chooses their management specialisation keeping in mind the career path they have envisioned for themself. That is why it should come as no surprise that MBA students from reputable institutes have a clear list of preferred or dream employers. After a latest survey by Universum, the annual list of the most coveted jobs and the most preferred employer was compiled and at the top of this list was no financial company or even a bank, it was the search engine: Google. What makes Google the most preferred employer for management graduates? It is the companys startup-like culture and multiple perks which have pushed it to the top of the list for the most consecutive years.

This choice can be interpreted in such a way, that a majority of MBA grads like to work in a start-up atmosphere and like to have some lucrative perks to keep hanging on. Job responsibilities, the brand, perks, salaries, holidays and work culture- these are some of the factors affecting a job decision. So, why should you pick one job and let the other one go? Here are the answers to that:

Are they open to negotiation?: In many organisations, the hiring procedure for MBAs may be slightly different. Companies picking up a huge number of freshly graduated MBAs, often do not leave the doors open for salary negotiation and one has to accept the offer on their terms completely. This is a routine hiring for them where every year a set number of management school graduates are hired for similar packages. So before you go for the interview and put yourself in an embarrassing position by beginning to negotiate in such an implacable scenario, try to find out as much as you can about the company. Find out if they negotiate or do they hire classes of MBA students just like that and then you can decide whether the brand is okay for you or not

Know what you want: This is very important when you sit down for negotiations. You should know what you expect from the job. Another person may be happy with what they are offering and not you, or it could be the other way around as well. Actually, the package with a two week vacation time can be more lucrative for a family oriented person than a job with no holidays but higher pay. So you have to think broadly and then choose your pick of the right job. So remember, before you begin negotiating try to decide what you want.

Study other offers: You have to know what the going rate is in the industry. What are other companies paying their employees in comparison with the offer you have? Study the job title, role, responsibility, pay packet, previous employment records required and other details and then find out which one is the right one for you.

Be firm regarding your demand and your education backed confidence and you will surely get a good job offer after getting your degree in business management.

by: George Freeman

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