Although it can seem daunting, salary negotiation gives you an opportunity to walk into a new role with a salary and benefits package that matches your wants, needs, and value.
If you’re ready to make the move to a new company or want to enhance your existing package, here’s our advice on how to negotiate your salary with confidence.
Understand Your Value.
Before you jump into salary negotiations, you’ll want to get clear on what your value is and what you can realistically ask for. This involves understanding your market, potential employer, and where you fit in.
Make sure you’re clued up on the different elements that make up your salary and benefits package. Consider not only the base salary but bonuses, equity, benefits, and other perks too. Do some research into what similar companies offer and combine this with insights from your network, friends, and family. Use this information to build up a picture of what your ideal salary and benefits package would look like.
Navigate the Conversation with Confidence.
When it comes to the negotiating stage, handle yourself with confidence. This is a two-way conversation that you’re an equal player in, so don’t feel under pressure to downplay what you want.
Stay firm to your goals and feel confident that you’re asking for a salary and benefits package that reflects what you can bring to the company. You’re simply asking the potential employer to enter into a meaningful discussion about how they can compensate for your value and expertise.
Seek out Answers.
Play an active role in asking the right questions in the salary negotiation process. Approach the conversation as the level playing field that it is, and don’t be afraid to be curious and straightforward about the details you’d like to know.
If salary and benefits doesn’t come up in conversation or it’s not covered in enough detail, feel free to ask about the salary range offered. The interviewer may dodge the question, but reframe it as a positive for them. Make it clear that knowing the salary range now means you can both decide whether it’s worth pursuing the conversation further. Time is precious when you’re recruiting, so this question may unearth the answers you’re looking for.
Get the Offer in Writing.
If an attractive offer has been made on the phone or video call, make sure you get this down in writing. This gives you a useful fallback if there’s any miscommunication about what was said. You’ll also get more time to consider the offer and decide if it’s the right move for you.
Our Salary Negotiation Tips.
Having the discussion about salary and benefits can feel overwhelming or difficult to navigate. Use these salary negotiation tips to your advantage and stay calm and focused throughout the process.
Practice the Conversation.
If you’re anxious about negotiating your salary, try practicing how it might go with a friend or family member. Think about the questions you want to ask and see how the conversation goes. You might discover that you feel stuck at a particular question or you’d like to find more data to support your salary suggestion. With enough practice, you’ll be able to handle the salary negotiation conversation like a pro.
Make the Ask at the Right Time.
When negotiating your salary and benefits package, wait for the interviewer to mention the topic first. They may share all the details in one go, so you quickly know where you stand. It also opens up an opportunity for you to show that you’re serious by asking questions and negotiating.
If you’re seeking a raise in your current role, be mindful of other activities within the company that might influence your chances. Avoid making the ask if your contact is working on a major project with a deadline approaching, or if there’s a strategic business decision due. Wait for the right moment, or ask when a good time to discuss salary might be.
Take Time to Consider Your Offer.
Don’t feel rushed into making a decision right there and then in the interview. Even if you’re happy to accept their offer, ask the interviewer to send you the offer in writing so you can consider it over the next 24-48 hours. This gives you an opportunity to seek advice from your peers or prepare a counter offer, if you’d like to suggest an alternative salary or benefits package.
Negotiate Your Salary with Confidence.
Navigating the conversations around salary and benefits isn’t always easy, but it’s worth doing. You could walk away with a promising package that matches your experience and value perfectly, even if the advertised salary wasn’t as attractive. Next time the opportunity comes up, you’ll be ready to discuss salary and benefits in a way that gets you the results you’re looking for.