 |
Negotiating A Salary
You only get one chance to negotiate the best starting package |
|
Negotiating a salary and benefits package is a critical part of receiving and accepting an employment offer.
Hopefully you did your homework before your job interview and have checked the salary range for the job fits with your expectations?
We're going to assume a "yes" to that one!
Many people don't bother negotiating their starting salary, simply accepting the company's first offer.
This is a real waste.
Ideally, if your new job is a promotion, you should be looking for a salary increase. But the employer is likely to want to recruit you for as close to your current salary as possible.
Once you work for the company, salary and benefit reviews tend to become an annual feature and may be relatively small. This is your chance to take a step up.
So here is a checklist for win-win salary negotiation.
|
- Understand what's important to you about the job .
will help you decide how far you're prepared to compromise.
- What's your current package?
Include salary, bonuses, perks such as health care, paid overtime, relocation allowance, company car and holiday entitlement. Remember they can check this, so don't fib.
- What is your "best outcome" package?
Keep it realistic, but optimistic.
- What is your "minimum offer" position?
... below which you will reject the job offer?
- Once you know this, the salary negotiation call is simple.
If you're feeling nervous, then practise with a friend or family member first.
|
Recruiters are used to people negotiating so, as long as you're realistic and polite, and can justify your requests, then it's likely to be a win-win outcome.
Remember that salary and package are about more than just cash.
You can negotiate on, for example, monthly salary, bonuses, car allowance, pension contributions, healthcare contributions, number of days' vacation or even future salary review dates.
Some companies have fixed policies about benefits, depending on the level of the position. This can make negotiation tricky, as the recruiter may literally have little no say over the package.
If this is the case, simply ask them where they could be flexible - and negotiate from there.
Be prepared to reject the job offer, if the package doesn't meet your minimum requirements. |
|
|
| |
Most Important Tip: Get the complete job offer and contract in writing before giving anything other than a conditional acceptance.
|
|
|
Unfortunately, we often come across candidates who were offered salaries and perks "at the end of the trial period", but never got written confirmation and - surprise, surprise - they never materialised.
Often promises of big rises "at the next review" aren't delivered - sometimes because the "promiser" has left the company and no record was made of the offer.
We're not suggesting you be cynical; simply reminding you that this is a business negotiation. You owe it to yourself to deal with it professionally, which means getting your terms and conditions in a written contract.
|
This topic is covered in much more detail in the free e-book
"Closing The Deal"
Right click on the link and choose "save target as" to download it now.
(Or click on the link to open a new window and start reading).
|
|
|
|
| |
| |
