Job postings mostly end with a statement saying salary is negotiable, but how often do job seekers negotiate for a better package? As per Robert Half 2019 Salary Guides, only 39% of job seekers tried negotiating their salary with their last job offer. This means most job seekers accept what they are offered. If you too are going for a job interview, here are top 10 tips to negotiate your salary the right way:
1. Know your market value
Before going for a job interview, it is important to analyze your market value. You must do an in-depth research to understand your earning potential.
Similarly, research for your job profile.
2. Have the right attitude:
3. Be considerate to the other person:
If you are considerate and have made the interviewer comfortable, chances are that he would be willing to patiently listen to your expectations and respond positively to your negotiation.
4. Don't be hasty
During your interview process, don’t jump to the salary negotiation part. Let the interviewer get convinced that you are the right fit. To ensure this, do the following:
5. Have a professional approach
6. List down your priorities
Let your employer know what parameters are important to you to accept the job whether it is the leave policy, work-life balance or salary. If the salary package is your top priority and if this is not met probably you won’t accept the offer, then chances are your desired salary might get accepted. Since the energy industry has the paying capacity but faces the dearth of talented professionals, they will choose talent over money in most cases.
7. Give a number not a range
If your employer asks your salary expectation, do not talk in range or a round figure number for example 10 to12% raise or 15% increment on the previous salary. Give a precise number so that the employer knows you have done your research and know your market worth.
8. Talk about 'value' and not 'need'
When you are negotiating, you are selling your skills. So, make sure you don’t discuss what the company offers you rather talk about the ‘values’ which you will bring to the company. Let the employer see the ‘benefit’ of hiring you rather than discussing your personal benefit in joining the company.
9. Look at the complete package
If you like the opportunity and the employer likes you too but is unable to give you the desired raise, then it is advisable to look at the complete package. For the oil and gas industry, look for offshore opportunities, work-life balance, leave policy, work from home benefits, training opportunities, incentive, bonus, potential raises and so on. Analyse the complete package and benefits.
10. Don't settle and be courageous to walk away
When you know your worth, don’t ever settle for less. If you have done the negotiations and have analysed the complete package and still feel that you are not being fairly compensated, then don’t be afraid to walk away. There are numerous opportunities available in the oil and gas sector. Wait for the right one.
The oil and gas industry has a reputation of paying well. So, if you have right the skillset and negotiation power, you will get what you deserve. If you are looking for an opportunity in the oil and gas industry check out NrgEdge, an exclusive platform for oil and gas professionals.
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In the last week, global crude oil price benchmarks have leapt up by some US$5/b. Brent is now in the US$66/b range, while WTI maintains its preferred US$10/b discount at US$56/b. On the surface, it would seem that the new OPEC+ supply deal – scheduled to last until April – is working. But the drivers pushing on the current rally are a bit more complicated.
Pledges by OPEC members are the main force behind the rise. After displaying some reticence over the timeline of cuts, Russia has now promised to ‘speed up cuts’ to its oil production in line with other key members of OPEC. Saudi Arabia, along with main allies the UAE and Kuwait, have been at the forefront of this – having made deeper-than-promised cuts in January with plans to go a bit further in February. After looking a bit shaky – a joint Saudi Arabia-Russia meeting was called off at the recent World Economic Forum in Davos in January – the bromance of world’s two oil superpowers looks to have resumed. And with it, confidence in the OPEC+ club’s abilities.
Russia and Saudi Arabia both making new pledges on supply cuts comes despite supply issues elsewhere in OPEC, which could have provided some cushion for smaller cuts. Iranian production remains constrained by new American sanctions; targeted waivers have provided some relief – and indeed Iranian crude exports have grown slightly over January and February – but the waivers expire in May and there is uncertainty over their extension. Meanwhile, the implosion in Venezuela continues, with the USA slapping new sanctions on the Venezuelan crude complex in hopes of spurring regime change. The situation in Libya – with the Sharara field swinging between closure and operation due to ongoing militant action – is dicey. And in Saudi Arabia, a damaged power repair cable has curbed output at the giant 1.2 mmb/d Safaniuyah field.
So the supply situation is supportive of a rally, from both planned and unplanned actions. But crude prices are also reacting to developments in the wider geopolitical world. The USA and China are still locked in an impasse over trade, with a March 1 deadline looming, after which doubled US tariffs on US$200 billion worth of Chinese imports would kick in. Continued escalation in the trade war could lead to a global recession, or at least a severe slowdown. But the market is taking relief that an agreement could be made. First, US President Donald Trump alluded to the possibility of pushing the deadline by 2 months to allow for more talks. And now, chatter suggests that despite reservations, American and Chinese negotiators are now ‘approaching a consensus’. The threat of the R-word – recession – could be avoided and this is pumping some confidence back in the market. But there are more risks on the horizon. The UK is set to exit the European Union at the end of March, and there is still no deal in sight. A measured Brexit would be messy, but a no-deal Brexit would be chaotic – and that chaos would have a knock-on effect on global economies and markets.
But for now, the market assumes that there must be progress in US-China trade talks and the UK must fall in line with an orderly Brexit. If that holds – and if OPEC’s supply commitments stand – the rally in crude prices will continue. And it must. Because the alternative is frightening for all.
Factors driving the current crude rally:
Already, lubricant players have established their footholds here in Bangladesh, with international brands.
However, the situation is being tough as too many brands entered in this market. So, it is clear, the lubricants brands are struggling to sustain their market shares.
For this reason, we recommend an impression of “Lubricants shelf” to evaluate your brand visibility, which can a key indicator of the market shares of the existing brands.
Every retailer shop has different display shelves and the sellers place different product cans for the end-users. By nature, the sellers have the sole control of those shelves for the preferred product cans.The idea of “Lubricants shelf” may give the marketer an impression, how to penetrate in this competitive market.
The well-known lubricants brands automatically seized the product shelves because of the user demand. But for the struggling brands, this idea can be a key identifier of the business strategy to take over other brands.
The key objective of this impression of “Lubricants shelf” is to create an overview of your brand positioning in this competitive market.
A discussion on Lubricants Shelves; from the evaluation perspective, a discussion ground has been created to solely represent this trade, as well as its other stakeholders.Why “Lubricants shelf” is key to monitor engine oil market?
The lubricants shelves of the overall market have already placed more than 100 brands altogether and the number of brands is increasing day by day.
And the situation is being worsened while so many by name products are taking the different shelves of different clusters. This market has become more overstated in terms of brand names and local products.
You may argue with us; lubricants shelves have no more space to place your new brands. You might get surprised by hearing such a statement. For your information, it’s not a surprising one.
Regularly, lubricants retailers have to welcome the representatives of newly entered brands.
And, business Insiders has depicted this lubricants market as a silent trade with a lot of floating traders.
On an assumption, the annual domestic demand for lubricants oils is around 100 million litres, whereas base oil demand around 140 million litres.
However, the lack of market monitoring and the least reporting makes the lubricants trade unnoticeable to the public.
Headline crude prices for the week beginning 11 February 2019 – Brent: US$61/b; WTI: US$52/b
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