Salary Negotiation Tips
To negotiate your new salary from a position of strength, preparation is crucial. You must have clear and realistic expectations of what your skills and experience are worth and be prepared to ask your potential employer for what you want.
Use the tips below to help negotiate your new salary with confidence.
It is critical to research what your role is worth before you begin negotiating your salary. Scan similar jobs on the internet to find out the average range for your sector, location, and experience.
Make sure you also research the financial performance of the company, its recent staff movements and industry conditions. This will help you to better understand the company‘s position and anticipate potential objections when negotiating your salary.
Balance your research with your personal needs to determine a realistic salary range for negotiation. Decide on a figure that:
- Will support you
- You would be satisfied with the minimum you would accept
- You would be delighted with your ultimate goal
The last two figures comprise the salary range for which you should aim. You should always start with a higher salary to allow room for negotiation.
- Will support you
Always wait for the potential employer to raise the topic of salary negotiation first. You are in the ideal position to negotiate salary when the employer has offered you the role, is hopeful of employing you and has suggested a figure first.
Most recruiters and employers ask what your salary is early in the process, rather than answering this question right away, instead respond that you would like to come back to this question further along in the interview process when you know more about the role.
After doing your research about your position and the average salary, use this information to negotiate the salary you deserve, commensurate with your skills and experiences.
Good negotiators will enter a meeting with a range of o
ptions. Think about non-pay alternatives if the opportunity to negotiate salary is limited. Support for education and training or flexible hours are potential alternatives to financial incentives. The job might offer a clear promotion path or the opportunity to review pay in three to six months, so consider these alternatives as part of your salary negotiation.
Employers respect applicants who are hard but fair negotiators. Having the confidence to negotiate well for yourself shows the employer that you could bring these skills to the role and strengthens their belief that you would be a valuable addition to the team.