In order to negotiate your salary effectively you must know what you are worth in the marketplace, the salary you are looking for and what the organisation is able to offer. If an employer asks you about salary and you cannot confidently answer, it may put you in a weak position to negotiate.
If you are offered a salary that is lower than what you were expecting, ask whether there is room for negotiation or flexibility in the offer. Ensure that you are aware if the role had a salary banding on the advert for a guide. If you are working with a recruiter, they will negotiate the salary on your behalf.
To be in the strongest possible position to negotiate salary you must ensure that your expectations are realistic. Know what you and the position are worth, be ready to justify why you are requesting this salary and find out what the employer is willing and able to pay. Before you go into any salary negotiation you must be clear about the salary you are looking for and at what point you are prepared to walk away from the negotiation. The company need to know why and how they are going to benefit from hiring you. Here are some areas to consider:
The main considerations
To be in the strongest position possible you must be able to sell your experience and achievements and demonstrate how relevant they are for the role. Make sure you have prepared examples of how you are able to add value to the organisation so you are able to justify the salary you are asking for.
Understand your own priorities and financial position
Be clear about other factors you need to take into consideration when negotiating your package. Money may not be the only motivating factor when applying for a role and should not be all you base your negotiations on. For example, what are your current priorities? It may be that you need a minimum number of day’s annual leave so you could use this in order to negotiate. Could you use flexible working or a salary review after probationary period as its unlikely they would negotiate holiday entitlement.
Presenting your proposition
Presenting your reasons for the salary increase could assist you in influencing your potential new manager. You will need to be logical in your approach and understand the numbers. Prepare to advise how your skills and experience will be of benefit to them. Focus this more on what’s in it for the company? You will be utilising your network within the first 6 months to acquire new customers generating % of sales for the company. Alternatively you are going to re-invest some of your salary into your own professional development by undertaking a project management qualification and then tell them how that will benefit the company.
By writing your reasons in black and white you can leave them with this information for them to think about and ensure you justify why you are worth the amount you have asked for.
Don’t forget about benefits
Your salary is of high importance but consider the benefits that could be on offer. If you don’t know what the benefits are, make sure that you ask. Considering the entire package will enable you to be realistic about your salary.
Benefits to consider
Travel schemes / onsite parking
Flexible working options
Total the value of these benefits as they may influence your decision. The company might offer good career progression or regular salary reviews which may also be beneficial. If your salary will be reviewed again in 6-12 months perhaps this would sway you to take the lower salary and ensure the review takes place as promised.
Accepting or declining the offer
At some point you will accept or decline the offer. Be positive and show enthusiasm even if declining the offer; you want to ensure that they are left with a positive impression of you as you may cross paths again in the future. Most importantly ensure the negotiation you hold is realistic. If you are negotiating a higher salary outside of the salary band you have given the company have the right to withdraw the offer. Take time to review the offer and if you have any further questions, ask your new employer for further clarification.
Renovo is one of the UK’s leading providers of outplacement and career transition support. We work with both organisations and individuals to support their career transition requirements. If you would like to understand how Renovo can help you please call 0800 612 2011 or email email@example.com