How to Negotiate a Better SalaryCareer Resources
In an interview or annual appraisal, always negotiate for a better salary. Many people don’t realise that often the advertised salary isn’t all that’s available and ‘miss out’. Asking for a pay rise or negotiating a new job offer can seem daunting, but our top tips are here to help you earn what you deserve.
Do Your Research
Look at job listings for similar positions at other companies in the same region and around the country to build up an idea of the average salary, the website Payscale is a great tool for seeing averages. Larger companies may have reports online showing pay transparency which can give you an idea of their bonuses and perks as well as salaries. If the company has a pay grade structure, try to find out what the boundaries of the grades are so you can state which grade you deserve.
Once you have an idea of what you think is the average salary, think of what else you have to offer and how much experience you have. If you have additional qualities that add value, such as transferable skills from a previous position or even from a hobby or volunteering – use those skills as part of your pitch.
Don’t Round Up or Down
A study by Columbia Business School on negotiation techniques showed those asked, or offered, a precise number were more likely to get the result they wanted. So for example, rather than asking for £35,000 or £40,000 ask for £38,000.
In the study, those who used a precise number were perceived to be more well informed about the value of the negotiation, compared to those who round up or down to round sums. If you want to be a little more flexible, use your figure as a starting point or ask for “in the region of £38,000”.
Do Speak First
It’s often thought that going first in a negotiation weakens your position, especially in an interview, however speaking first has many benefits. The first number becomes a sticking point that all subsequent negotiations revolve around. Going first also puts you in the driving seat and lets you steer the conversation the way you want to go.
Don’t Rule Out Perks
If the company has a strict pay grade system or cites budgetary constraints, don’t be put off! Ask for more holiday days, more flexible hours – or even less hours, new equipment, training and development. Ask for something that would enable you to be a better, happier and more productive employee and be prepared to explain why the perk would have that outcome. Don’t ask for Friday afternoon’s off to go to the pub – ask for half days to help with childcare, to miss rush hour – be honest but don’t be foolish!
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