Understanding the company's situation and your value will ensure a successful negotiation.
Why are you worth it?
The key to negotiating your salary is gathering as much information as possible before negotiation begins.
How is the company doing?
It is important to understand how the company you are interviewing with is performing. Have they posted record profits for the previous year, or is their financial performance below their targets? Have they made many redundancies in the past 12 months?
All of these factors will have an effect on whether the organisation is going to pay above/below or on the market rate salary for a role.
How much do employees carrying out similar roles receive?
Find out how much employees carrying out similar roles are paid. The key is to demonstrate your views with good examples of similar jobs both inside and outside the firm. Benchmark your salary against the Robert Walters Salary Survey in your sector.
General market conditions in your sector
Is there a shortage of candidates with your skill set in the industry you work in? Have general salaries been rising or falling with in the sector? Are there a high number of roles appropriate to your skill set available in the sector? It is important you know the answers to all of these questions so that you understand what level of salary you are able to request and what is realistic.
Determine whether there are any salary trade-offs
Try not to be lured into a false sense of satisfaction by the top-linesalary figure. Make sure you do your salary sums because you may have increased costs in your new job.
For example, you may need to travel further to reach your new office or workplace and you might lose out on other benefits too. Of course, the reverse can be true. Your new salary may not be as high as you'd like but there could be other advantages; a company car, free health insurance, gym membership or other perks.
Never forget, however, that this is the wage you're going to be living on. So the greater actual salary you earn the greater your financial security.
Know your worth, download the Robert Walters Salary Survey.
10 signs you should move roles
Below are 10 signs that your job isn’t a good fit for you anymore, and it’s time to consider how you can either improve the issues or think about leaving. Nic Sephton-Poultney, Country Manager at Robert Walters says, "If a few of these signs apply to you and your job, then you may want to consider lRead More
The complete interview guide
The Complete Interview Guide Preparation is the first essential step towards conducting a successful interview. The better prepared you are, the more confident you'll be. Below we cover pre-interview tips, interview techniques to get you through, how should you close an interview and what to do postRead More
Quiet quitting continues in the workplace
Productivity could stagnate warns recruiter: 40% of young workers vow to ‘act their wage’ and do ‘bare minimum’ Silent movement of quiet quitters: Half of under 30s will do the ‘bare minimum’ in roles unless a pay increase or progression is on the cards. Under 30s productivity slowing: 51% of manageRead More
Come join our global team of creative thinkers, problem solvers and game changers. We offer accelerated career progression, a dynamic culture and expert training.