The idea of negotiating a higher salary is something that
scares the living daylights out of most people. It doesn't seem likely
that walking up to your boss and demanding a pay increase is going to
come to fruition. However, you'd be surprised. Salary negotiation is a
normal part of business and if it is conducted in the right way, you
could be singing all the way to the bank.
Whether you are
starting a new job or have been employed for a long time, there is
always an opportunity to negotiate your salary. Today my blog will
focus on negotiating salary for a new job, but I will also be providing
advice for those currently in employment at the start of next week, so
check back soon!
And remember "If you don't ask, you don't get!"
Negotiating your salary for a new job
1) The most fundamentally important tip when negotiating your salary in a new job is that you don't discuss salary until you have a job offer
Remember, the job market is currently an even more competitive place
than in the last few years, so if you go into the interview all guns
blazing about your need for a high salary- the interviewer will
automatically write you off. Wait until you have a job offer on the
table before you even begin to discuss salary, and make sure to
approach this in a realistic and sensible manner.
2) Do your research.
A key factor in establishing your price when asking for a pay rise has
to come from some old fashioned research. Use jobs websites
whatever information you can get your hands on to see what other
companies are offering candidates with your job title and skill set. If
other businesses are offering much higher, then fantastic, you have a
case for negotiation, but if you are after a sum that is just not paid
in your current role, then don't shoot yourself in the foot by asking
for an unrealistic number. Remember, salary is not the only thing that
may be up for negotiation, there are also perks and benefits that you
could discuss to make the job offer more favourable to you.
3) Before even going for an interview it is important to work out your minimum
This is the figure that your interviewer absolutely must meet at all
costs. You should take into account previous earnings, any travel costs
you would incur in the new job, and how much you need to live
comfortably and pay all of your usual bills. You need to be aware of
this figure so that you can negotiate successfully, as it is no use
taking a job offer that will mean you are unable to pay all of your
4) You may be asked at interview what you previously
earned. Now it may seem like a good idea to lie here, because you may
think it gives you more chance of receiving a higher salary. DON'T-
this is a big mistake. You should never lie about your previous salary
as this is easy for an employer to find out. Your P45 will tell your
new employer exactly what you were worth in your last employment, so
however tempting it is to boost your numbers, it won't be worth it in
the long run.
5) Know your circumstances.
When you go to
an interview you already know how important the outcome is to you. You
may have already got another job offer, and if this is the case it
allows you to turn down any offer you are made that you aren't happy
with. Alternatively if this is a job that is most likely to be your
only current option, then be more careful, as you don't want to talk
your way out of the job.
6) If you are unsuccessful in your salary negotiation, remember not to panic. 'No' now doesn't necessarily mean 'no' forever.
If you are offered less than you were hoping for, dust yourself down
and find out about the review structure of the company. Ask about how
salary rises are assessed and whether there is a chance in the future
for further negotiations. Just because your employer is saying no now,
doesn't mean it will be a no in a few months time.
interviewer is probably going to ask you some question about what you
think your role is worth or ask what is your desired salary. Remember
if you haven't got a job offer on the table then this discussion should
be approached with restraint. Instead of reeling off some fantastical
number, why not turn the question around to the employer
that you can get an idea of what they may offer you. You could ask the
employer "What kind of salary range do you have in mind for the
position?" or to avoid being forthright you could just answer by saying
that you "hoped to make as much as other employees with your skills and
qualifications". This puts the ball firmly back in the employer's
court, which will enable them to give you an indication of the type of
salary on offer.
Remember, you might be lucky enough not to need to negotiate
salary at all. You may be perfectly happy with the salary on offer, and
if this is the case, great! Even if you don't get the salary you want
right off the bat, your employer will not think badly of you for
asking. With the right approach, it shows that you are confident and
not afraid to go after what you want. One unsuccessful negotiation
should not put you off asking in the future- In the words of Only Fools
and Horses... "he who dares wins, Rodney...