1. Know your worth
If you don’t know your worth, you won’t know what figure to negotiate for. Your worth is dependent on many factors. For example, your experience, location and any niche skills you may have that are relevant to the position.
If you work in an industry where additional compensation, such as signing bonuses, is common for your role, consider whether the salary is basic, or if it includes the bonus figure.
Look at sites that can calculate your worth, give you a benchmark for what somebody in your position can expect and let you search salaries by company. A handy tool if they don’t include the wage in the job advert.
2. Be able to justify your worth
It would be rare for an employer to immediately accept paying you an increased salary without asking any questions.
Justify your worth by explaining the value you can bring to your employers. Employers love it when candidates can demonstrate their value using metrics because it shows that you can produce measurable results for companies and boost their success.
To determine how you have added value to a previous employer, think about your achievements and how they contributed to company aims and other KPIs, such as:
- Reducing costs
- Reducing inefficiencies in procedures or processes
- Providing excellent customer service
- Supporting the organisation in achieving specific short or long-term goals
When explaining your worth, mention numbers where possible as they strengthen your case and help the employer understand in real terms how you will be a vital asset to the team.
Don’t downplay your efforts when justifying your worth; focus on the positives and ensure that you tell the employer how those achievements were attained.
You should not at any point tell the employer your current or most recent salary as you may end up low-balling yourself.
Instead, if asked, you should say that you would like to focus on what value you will add to the business and then explain how you will add value. You might even re-focus the question on the employer and ask what their budget is for the position.
3. Have a backup plan
It’s possible that the employer will not offer you a higher salary, so you need to have a backup plan.
One option is to agree to accept the salary on offer providing that at your end-of-probation review, you will receive a salary review subject to you achieving X, Y and Z (which you would agree with the employer).
Also consider what you’d be willing to accept instead of an increased salary, for example, you could negotiate any of the following:
- Increased holiday entitlement
- Training contribution
- Change in job title
- Relocation payment
- Flexi-time
- Ability to work from home
It’s advisable to get the agreed terms in writing before you start the position.
4. Know when to accept or walk away
There will come a time in every negotiation when you’ll have to decide whether to take the offer or walk away and search for another job.
Don’t instantly assume that if you’re not offered the figure you want that you should walk away. Think about the bigger picture, as in some situations, it can still be worth accepting the job if the salary is less than desirable. Some instances of this include:
Career progression
If working for this company will fast-track your career and give you opportunities, this is a significant advantage. In other businesses, you may experience slower progression or struggle to find somewhere that offers the long-term opportunities you’re looking for.
Career change
It’s common to have to accept a lower salary when you’re making a career change, as you may not have the requisite experience.
When you’re changing careers, getting the first job is usually the hardest, but when it comes to leaving, having that experience on your CV can help you command a higher salary.
The company’s reputation
If you have a reputable company’s name on your CV, this may help your career immensely. It can sometimes be worth accepting a lower offer if working at that company will put you in firm stead to negotiate a higher offer at your next position
Better benefits
If the company benefits which are important to you, such as flexi-time or a shorter commuting time, you should take this into account. While salary is important, there are other work perks which must be taken into account.
Negotiate your job offer
It’s normal to feel nervous about negotiating a job offer, but if you follow the above steps, it should put you in good stead to obtaining a salary commensurate with your experience.
About the author: Shilpa Nayyar is an ex-recruiter turned CV Writer and offers CV Writing, LinkedIn Writing and Cover Letter writing assistance. Shilpa is currently offering free CV reviews where she will personally review your CV and give you clear recommendations to improve your CV. Connect with Shilpa on LinkedIn.
