How to Negotiate your Salary
While Britain’s economy is on the recovery, many companies are still cutting back and reviewing employee salaries and benefits. As it is an employer’s market, job applicants and salaried workers often feel they cannot negotiate their salaries.
Before you settle for the figure on offer, focus on these negotiating tips that will help you to get the salary you deserve.
Research is key before you attend an interview or employee review. It is important that you review salaries for positions similar to yours in your area, and are familiar with the top-end, mid-scale and low-end salaries for a candidate with your level of experience, skill set and education. Don’t be afraid to reject an offer if your counter offer is based on good research.
Focus on making a good impression, and ensure that you’ve built a good relationship with your interviewer or reviewer. A candidate that begins an interview by asking about salary does not look interested in the position, only the benefits.
Explain your unique value and demonstrate how you can contribute to the bottom line. If you feel that you can contribute more, agree to take on more responsibility, provided you will see a pay increase to correspond with your increased workload.
In any salary negotiation it is important to name a reasonable figure when asked what your salary requirements are. Often people fall into the trap of asking for a high figure in the hope that they can negotiate down to their preferred bracket. Outline a figure that is just above the average, or at the higher end, based on your research of similar positions.
Do not shy away from tough questions relating to salary, if the opening figure isn’t on your ideal pay scale then enquire about raises in the future. Ask if there are ways in which your pay could be tied to your performance. Don’t give up too quickly, if the company cannot meet your expectation right now, view this exchange as the start of ongoing negotiations.
Patience and persistence are valuable assets to have in any negotiation. If the offer is well below what you think you deserve, or are willing to accept, be respectful and make a considered counter offer. Often negotiations are derailed when someone makes a threat, like quitting their job.
In the best negotiations, both parties emerge feeling as though they have won. Once you’ve demonstrated your value, and your company has offered you a fair figure, you can rest in the knowledge that you have negotiated well.