Great news, you’ve received the offer for the job you’ve applied to, but now comes the tricky part of negotiating your salary.
Here are some basic tips to help you with that. These tips can also be used when negotiating a pay rise with your current employer as well.
We all want to earn the highest salary possible, but it is important to understand how you measure up against people with similar skills and experience levels. Part of understanding your worth as an employee (with regard to salary expectations) comes from doing research on market rates and industry standards to find out what someone with your level of experience would be making at a comparable company.
Use valid data to strengthen your case check online sites like payscale, ask co-worker’s or friends in the industry, and speak to specialist recruiters who can share their insight to help you develop an understanding of market rates, this way you can be sure what you’re asking for is within the correct range.
Understand the company position
There are a number of factors that will influence a company’s ability to offer you a higher salary. Company size, current pay bandings and structure, pipeline of work will all have a direct impact on how negotiable they can be.
You’ll be more successful if you explain why you feel you deserve more. Start thinking about some examples of how your skills and experience will benefit your new company. Can you bring business to them, have you got a strong proven fee record, do you have an additional skillset you can bring which they don’t currently have in the business?
By tying your strengths to the role you’ll be taking on, you’ll make a solid case for why you should be paid more than the initial offer.
Are non-financial benefits an option?
During your negotiation, it may become clear that there is limited flexibility on pay. Consider what’s valuable to you and what would make an offer more attractive.
Here are some examples of benefit alternatives that are not directly related to salary:
- Flexible working
- Home working
- Gym membership
- A company car or mobile phone
- Childcare benefits
- Support for education and training
- Health insurance
Additionally, the job might offer a clear promotion path, or the opportunity to review your pay in three to six months. Factor in everything and not just the starting salary.
Always remain professional:
Although it may sound really obvious, you must remain professional. If you’re looking at negotiating a high salary, focus on being polite and honest.
Don’t be overconfident or unrealistic with your expectations, you might find the offer is withdrawn.
If you’re considering changing roles or need any career advice, please feel free to contact us and we’ll be happy to help!