Money can be a tricky topic that a lot of people feel awkward talking about, but when it comes to professional matters, you need to make sure you’re getting paid what you’re worth.
So how do you go about negotiating the right salary?
Well, it totally depends on the value of the job to the business and your experience, so take the time to research salaries before you jump in with an unrealistic number.
Here are our top tips on how to negotiate your salary and benefits and forge the best professional relationship with your new workplace.
Bring It Up The Topic At An Appropriate Time
Don’t swoop in with your salary expectations before you’ve even stepped foot in the interview. Make sure you have a job offer before you bring up negotiations on remuneration, or you won’t be taken seriously. The company has to want you first before you can consider a discussion around money, otherwise you’ll come across as arrogant and presumptuous.
Remember That Statistics Will Justify Salary
Asking for £10K more than the advertised salary? You’re going to need to prove what you’re worth. Bring a portfolio of statistics that will justify your pay increase, demonstrating to a potential employer the immense value your skills and experience could add to their business.
Instead of vague sweeping statements like ‘sales improved dramatically in the two years I worked there’, providing evidence to your claims will validate them. Try instead something like ‘online sales improved by 35% in the first quarter and then by a further 20% in the following year’ and give details of your strategy, this will show your expertise and help persuade an employer that you’re worth the salary increase.
Research And Prepare
Do some research on salaries in your position and industry to determine what’s a realistic and reasonable number to put forward to a potential employer. Also make sure that you’re researched the company in question, since understanding their financial position will better inform how you tackle a proposition for an increase in salary.
Consider Negotiating Benefits
If it’s not possible for a salary increase, consider other benefits to the job, such as flexible hours, pensions or company socials that could add an advantage to your work life balance more than a wad of cash could. For example, if you had a job that allowed you either to finish at 4pm to take into account your long commute home, or finish at 5pm and take home an extra £5K year, which would you choose? Sometimes non-monetary benefits will benefit you more in the long run financially and otherwise, so reflect upon those possibilities.
Make Sure All Agreements Are In Writing
Although verbal agreements are binding in Scotland and not in the rest of the UK, wherever you live it’s always important to make sure that salary negotiations are agreed to in writing. Signing a contract will protect both you and your employer should any issues arise in the future around the job, your pay or your place at the company.
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