Negotiating your salary is an essential part of the hiring process. It's not only expected by most employers, but it also gives you the chance to advocate for your value (and negotiation prowess!). With the right preparation and a professional approach, you can turn this conversation into a win-win for both you and your future employer.
Salary negotiation tips for jobseekers:
1. Know Your Value
Before entering into salary negotiations, empower yourself by assessing your skills, experience and the value you bring to the role. Explore salary ranges for similar positions to ensure your expectations align with market rates.
2. Do Your Research
Gather information on typical salaries for the position you're applying for, considering factors like location, company size and industry. Utilise resources such as Seek and industry salary insights reports to benchmark compensation or connect with a recruitment specialist.
3. Frame Your Request Positively
Approach negotiations as a collaborative conversation. Express enthusiasm for the role and company and present your salary expectations as a reflection of your qualifications and the value you bring.
4. Choose the Right Medium for Discussion
While email can be convenient, discussing salary face-to-face or over the phone is often more effective. This approach allows for real-time dialogue, allowing you to express enthusiasm and promptly clarify concerns.
5. Consider the Entire Compensation Package
Evaluate the full scope of the offer, including benefits, bonuses and other incentives, such as LTIs and STIs. Sometimes, non-monetary perks can be negotiated, such as work flexibility, if the salary scope is limited.
6. Timing Is Key
Initiate salary discussions after receiving a formal job offer. This approach demonstrates your interest in the role and allows you to negotiate from a position of strength. When speaking to a hiring manager or recruitment consultant, be transparent about your expectations from the start.
7. Be Open to Compromise
While advocating for fair compensation is important, remember that flexibility can also be a strength. Consider alternative forms of compensation or benefits if the salary offer is non-negotiable.
When negotiating salary, staying professional and focused on building a constructive conversation is essential. Avoid ultimatums or getting emotional, instead approach the discussion with respect and clarity. At the same time, know your worth and when to walk away. If the final offer doesn't meet your needs or align with your career goals, it's okay to politely decline. The right job opportunity will value your skills and support your long-term growth.
