Summary:
How to negotiate salary in a job interview is unnatural for most people.
Employers, however, are masters at interviewing and negotiating.
How to negotiate salary in a job interview is unnatural for most people.
Employers, however, are masters at interviewing and negotiating.
If they offer a competitive salary, candidates will not want to say anything and risk jeopardising the opportunity.
Following the COVID-19 pandemic, some job hunters feel less confident than before and don’t bother to negotiate salary offers.
They simply accept whatever is offered. But you can learn how to get what you deserve!
Although the labour pool is growing, companies will face competition from other businesses seeking the same candidates for jobs.
While salaries can often be competitive, it is important to understand your value and bargaining power in any given negotiation.
If you are a professional with a strong background and respectable credentials, you could be missing out if you don’t negotiate for more money.
Pitching your skills is one strategy for a successful compensation negotiation.
A good negotiator takes time to prepare for this critical meeting to make sure the result is favourable.
Introduction
Your first salary would influence your earning trajectory in your entire career life.
For this reason, you should always negotiate salary and try to improve your offers.
And salary or pay raise negotiation is never about being greedy or super-aggressive.
The salary or pay raise negotiation principles we discuss below apply to your first job.
The principles also apply to all offer negotiations at work.
Negotiation should be a win-win: the employer is happy; the employee is happy too.
First and foremost, you must understand that salary negotiation happens even much earlier before the job offer.
For example, when uploading your CV on job boards, the advertisers ask for your salary expectations. [Meanwhile, if you want to know how to write a resume like a pro, here’s our must-read article].
They do this to weed you out if you’re not in their salary range, or the price you low by ‘forcing’ you to make the first offer.
For international candidates, that’s the reason it’s a good practice to check out salary.com or Glassdoor.co.uk.
These sites can help you to understand the reasonable salary range.
Always refrain from making the first offer.
The first person that makes an offer often fares more poorly in the negotiation.
The fastest way you’ll ever make money from salaries is during negotiations.
It affects, sets, or establishes your future salary trajectory too.
This is because, often, new employers can call your previous employer and ask your previous “start & end dates”; “starting & ending salaries”; and “starting & ending job titles”.
They can then use these to pay you low by giving you the job title closest to your last job title/salary.
Therefore, the higher your last job’s salary; the higher you’ll fare in your entire career salary trajectory.
New employers don’t see you earn, say £3K per month, and they then offer you £5K.
Instead, they’ll offer £3.5K or less if you don’t know the cardinal rules.
3 Cardinal Rules For How To Negotiate Salary Offer
Cheeky Scientist, which trains and supports PhDs in their job search journeys to land new roles in non-academic fields offers eight salary negotiation must-know tips as follows:
If the employer makes any oral offer during the interview (hurrah! However, always insist on a written offer).
In particular, (Item 7) ask to take the offer home to speak with ‘someone’ (e.g., your spouse) before reverting to them.
This tact would enable you to come back to ask for a little more based on your post-consultation with your ‘higher authority’.
Nine times out of ten, this would work like magic.
You can follow the above advice after receiving your offer letter and before you accept the offer.
CVJury’s 7 Tips To Negotiate Salary Offers At Work
1. Take the time to research and understand what a fair salary for your position is
Enter salary negotiations with the most current and accurate information possible.
To know what a comparable salary is for your position, start by consulting salary guides for the relevant sector and job title.
You may discover more detailed advice and negotiating points for that sector such as current skills shortages that can help in building your case.
High-demand jobs or critical jobs are where you should be looking to find any new job opportunity.
These positions pay better than others and require more skills and experience.
These factors mean that your starting salary will have room for negotiation.
According to McKinsey Consulting, there are various employment sectors at risk following the COVID-19 pandemic.
Avoid targeting positions that may be in the ‘at risk’ category post-COVID-19. It will weaken any potential salary negotiation.
2. Salary negotiation can be challenging
Be prepared to negotiate your case by researching the job and company beforehand.
Highlight your qualifications and demonstrate how you will benefit them as a candidate for the position.
Also, explain the reasons they should offer you more than any other job applicant.
When you receive an offer, counter with a higher amount if you know that your skills are worth more.
Therefore, research is critical.
Turn the negotiation into a chance to highlight your strengths, let them know why hiring you will benefit the company.
Avoid just focusing on the salary you want.
Before you negotiate, study the job description and company website to determine what skills the position requires.
Remember your best points and tie them in with this information.
3. Be honest
Being honest is the best policy when you are negotiating salary, and this includes disclosing your true intentions.
Consider your career trajectory and the length of time you expect to spend at the firm.
Are you a high-value candidate?
Does this new opportunity fit your long-term plans?
4. When negotiating salary, don’t overlook the benefits
Negotiating salary often involves some compromise and flexibility.
Let’s say, for example, you’re negotiating a more flexible work schedule in exchange for a lower salary.
The employer may be willing to allow extra time off or leave.
Working from home options are also easier for a recruiter or company to concede than giving up extra pay directly.
Determine what’s valuable to you and the company.
If they offer more money than you are currently asking, it may be an enticing proposition.
You should also consider any health insurance, retirement contributions, or professional development.
A good benefits package can significantly boost the value of a salary package.
Are specific perks like on-site childcare valuable to you when making your decision of where to work?
Consider the entire package in the negotiation.
That way you can be sure of your desired outcome.
5. Plan ─ don’t improvize
Ask for help! It is useful to practice with a friend or mentor the negotiation conversation you will likely have with your potential employer in the interview.
Your best coach would be someone who has experience in interview negotiations.
Their advice and knowledge could help you feel more confident about what you want when conducting salary negotiations.
6. Know when to stop
This is one of the most overlooked tips. If the company is making you a fair offer, the employer may withdraw it if you try and negotiate further.
Be aware of when you should stop asking for things you want and accept the offer made.
Prolonging the negotiation process by continually asking for more can frustrate them and compromise your new working relationship.
Try to feel when the pay negotiation process has reached an end.
However, don’t be a walkover.
If after a few discussions, they still don’t meet the salary requirements you asked for, gracefully call an end to the discussion.
Focus on other hiring situations and another employer that can better match what you expect in compensation.
7. Get the pay offer in writing
Remember, negotiating your salary is a delicate and important process.
So be sure to take your time and develop a reasonable way to approach discussing pay and other details.
Think about the other employment details to come up with an appropriate job offer.
After you agree on the pay offer with the employer, ask for a written document that details the salary and any other terms discussed.
For example, does the offer come with a new signing bonus or allowance for moving expenses?
Ensure that the contract comes with details of job duties and title, then review it carefully before signing your name─avoid email agreements.
Salary Negotiation Is Not Just About You
When in salary negotiation, keep a positive tone while discussing salary and bonuses, as this will likely benefit you most in the long term.
If you would like to receive a better job offer, you must negotiate for it.
One of the biggest mistakes job seekers make in their careers is accepting the first job offer on the table without any salary negotiation.
Employers and hiring managers are always looking to hire people with specialisations, in-demand skills and experience.
Researching the company, tactical thinking, and confidence are the keys to successfully asking for the salary you deserve.
Developing the necessary skills to negotiate successfully will be valuable throughout your career.
