Tips for negotiating your salary
When looking for a new job, you should already have your ideal salary figure in mind. However, things such as your work experience and the type of position you are applying for will all determine what that number is.
The location of the role used to have some bearing on your bargaining position, however, now that hybrid working has become the new norm, this is less likely to impact salary negotiations.
So how can you ensure your dream job comes with a competitive compensation package? Check out our guide to negotiating a fair salary.
Find out your worth and get paid what you deserve!
Getting what you’re worth can only happen when you know what that is. It’s not enough to have a number in mind; back it up by researching the salary ranges in your labour market.
Our salary guide will give you a better understanding of industry insights and a guide on what salary different jobs are currently paying, to help guide your negotiation. Salaries will vary not only by industry and experience but also by the size of the company and location.
Consider your skills and experience
Review your skills and experience and assess your employability as a candidate. Gaining a better understanding of whether you are above average, average or still developing will help you set realistic expectations in your field. Be realistic, you can’t expect a CEO salary if you have only had a few years in the industry.
Understanding your bargaining positioning
Once armed with an honest self-assessment and reliable data about salaries in your field and region, you will have a better understanding of what your figure is. Be honest about the salary range you are looking for, whilst also taking into consideration what other benefits they can offer. If this is your first time negotiating a salary, wait for them to discuss salary first and delicately suggest a higher number based on key factors around your experience or suitability for the role.
Flexibility is key
If the new role fails to meet your salary expectations, consider alternative compensation bargaining such as the option to work from home, additional training or biannual reviews. Not only does this give you the ability to negotiate a better compensation package that best suits your lifestyle, it also demonstrates your flexibility to your future employer.
Negotiating your salary can make people nervous, so reiterate your enthusiasm for joining the company and the position. Use phrases such as “I am really excited to work here” and “I appreciate your offer” and follow up with a request to consider a higher salary based on your skills/experience or research of the industry.
If your salary negotiation doesn’t go to plan, then the decision on the role must be made. In some cases, people are flexible and are keen to take on the role for a lesser amount, others stick to their salary range and wait for the next opportunity. Only you can decide which is a better choice for your career journey.