Salary Negotiations

Negotiating a salary is an important but potentially daunting part of the job hunting process. If handled correctly, you can potentially make thousands of extra dollars a year, simply from a short conversation. If handled incorrectly however, it can result in no job being offered or even a current job offer being withdrawn so it is vital to get it right!

Often the best way to negotiate your salary is to work with a recruiter or head-hunter. Recruiters know the market and what it is possible to achieve and usually will be able to get you the best possible salary. Most recruiters charge their clients a fee based on a percentage of your salary so will be looking to get as much as possible for you so that they also get paid more!

Whether you are using the services of a recruiter or not, some tips to bear in mind when negotiating include;

1. Do your research and be prepared

This is the most important thing you can do! Take time to do your research about the position and the market and find out what you are actually worth. Talk to friends and colleague where possible and find out what other people in similar jobs within similar companies are getting paid. (beware of exaggerations and one-off stories!). Try and get a good feel for what you’re worth in the current market. Look at salary surveys such as the Engineers Australia Salary Survey and Professionals Australia

2. Be comfortable with what you’re actually willing to accept.

Make sure you know exactly what your current salary and benefit are and what you would feel comfortable accepting. There is no point starting a new job and struggling financially or feeling resentment for your new employer because you have accepted a much lower salary than you wanted.

3. Don't bring your personal situation into the conversation

You may have debts to pay or an expensive mortgage, but these are not your employers concern and they are not going to offer you more because they feel sorry for you. Focus on your skills and abilities and why these relate to your salary requirements.

4. Stay calm

Although the discussions are important and can have an impact on your future, try not to panic or come across nervous when discussing salaries and money. Practice so that you are confident in your conversations as you have done your homework and are well informed.

5. Be patient

Often when getting to the final stages of a hiring process, salaries and job offers have to be approved and signed off by a number of parties and this can take days or even weeks. Just because things are taking a while to progress, may not be an indicator of the negotiations.

6. Be flexible

If the company is unable to meet your cash salary requests maybe there are other benefits you can negotiate instead.  It may be possible to get additional annual leave, professional memberships, health insurance, gym memberships, formalised bonuses schemes, share options or similar.


DO’S AND DON’TS!

DO

  • Research current salaries and be prepared.
  • Use a recruiter to negotiate for you if possible.
  • Be flexible and consider other perks.
  • Be able to justify your requests and figures.


DON’T

  • Be arrogant, obnoxious or overly aggressive.
  • Pretend you have other offers if you don’t.
  • Start with a massive, unrealistic number.
  • Try and play hard-ball if you don’t know how to.

 

To find out more, please  Contact us and we will be happy to help