It is not unexpected that many people find it difficult to request higher pay. Especially once their job hunt is over and they have an offer. They do not want to risk the opportunity now that they've made it this far.
However, as the UK HR experts point out, hiring in many sectors has surpassed or even reached pre-pandemic levels. On top of that, there is a shortage of skilled professionals, increasing competition for top talent and driving up salaries.
If you do not negotiate a salary offer while having specialised skills and a strong CV, you may lose a huge amount of well-deserved money.
Most recruiting managers will give you time to consider the offer and will not demand a response right away. Here are some pay negotiation techniques to help you politely and confidently request what you want.
1. Become Familiar with Salary Trends in Your Industry
You should go in for your salary negotiation as well-prepared as you can. Your best ally is information. There are various industry-specific salary guides available on various job search boards, enabling you to gain a current, accurate picture of the salary structure in your field. You can modify national values for your location by looking up the market rate for your position and experience level.
If you discover that you are vying for one of those sought-after positions, you can answer more assuredly. If the company is having trouble locating someone with the necessary qualifications and experience, it may be possible to bargain for a higher salary.
2. Present Your Case
Do not merely counter with a greater amount once you've received the pay offer. You will have greater success if you explain why you believe you deserve more. Highlight your capabilities, strengths and all the skills the company would benefit from by hiring you.
Write out specific examples of how your experience and skills will improve your new company's bottom line before negotiating your salary. Do not forget to highlight any qualifications, including certificates or specific technical abilities that may improve your capacity to perform the job. Making a strong argument for why you should be paid more than the initial offer will be easier if you relate your talents to the role you'll be taking on.
3. Realise Your Worth
Before you start negotiating your salary, it is essential to do some research on the value of your work. Search online for similar positions to learn the typical range for your industry, region, and expertise.
4. Decide What You Need
To establish a reasonable salary range for negotiation, balance your research with your demands. Choose a number that:
- Will assist you
- You would be content with, or the absolute bare minimum you would accept
- You would be delighted with - your ultimate goal
The last two represent the pay range you should shoot for. To leave the opportunity for negotiation, you should always offer a larger wage at the beginning.
5. Watch Your Timing
Always wait for the prospective employer to bring up salary negotiation. You are in the ideal position to negotiate salary when the employer has offered you the role, is hopeful of employing you and has suggested a figure first.
6. Be Truthful
When negotiating pay, complete honesty is crucial. A recruiting manager learning that you created a rival job offer or exaggerated your prior earnings is the best way to lose your offer.
7. Avoid Divulging Your Current and Previous Salaries.
Most recruiters and employers will ask about your compensation early in the hiring process. Rather than respond immediately, say that you'd prefer to address this subject after learning more about the position.
Researching the typical salary for your position and using that information to negotiate the pay you deserve based on your qualifications and expertise is advised.
8. Think of Alternate Options
The best negotiators will come prepared with a variety of solutions. If you have little opportunity to negotiate salary, consider non-pay alternatives. Financial incentives may be substituted with flexible hours or support for education and training. When negotiating your salary, keep in mind that the position can provide a clear path to promotion or the chance to review pay in three to six months.
9. Consider Extras and Benefits
Sometimes adjustments to employee perks and benefits are made during salary negotiations. It may be less costly than a bump in salary for the employer to give ground on extra vacation days, flexible hours or, especially in today’s climate, a work-from-home schedule.
10. Think About What is Important to You and What Might Enhance an Offer
Remember to compare health insurance coverage, retirement savings programmes, and other benefits when weighing different offers to make an informed choice. Consider benefits like chances for professional growth with the desired workplace as well.
11. Practice Your Delivery
Asking a friend or mentor to practise the conversation you'll likely have with the hiring manager with you may seem like overkill to some people, but it's a wonderful idea. A business-savvy person who can train you on projecting confidence and responding to unexpected queries is the ideal companion, ideally from the corporate sector. It can help you practice your delivery numerous times before the salary negotiation to feel more confident
12. Know When to Wrap it Up
A fair employer won't renege on an offer simply because you tried to bargain. However, dragging out the salary discussion can irritate the hiring manager and damage the beginning of your relationship. After several negotiations, if the organisation cannot satisfy your needs, either choose to stay at a the wage they are offering or politely resign and concentrate on alternatives that more closely match your desired level of income.
Employers value candidates who can negotiate strongly while being fair. The employer will be more convinced that you would be a worthwhile addition to the team if you have the confidence to effectively bargain for yourself and demonstrate that you could bring these abilities to the position.
13. Put Everything Down on Paper
Once you and the hiring manager agree on a remuneration plan, request formal confirmation. Along with the salary, it should also detail any unique agreements, like a signing bonus or allowance for moving costs, as well as a job description and a list of duties for your new position. Make sure the employer and you both sign the contract. If not, ask for some sort of informal documentation. Some employers may automatically include this as part of an employment contract.
14. Remain Upbeat
Keep in mind that most managers also dislike bargaining. Your potential employer is not your foe. You will be able to handle these discussions more skilfully if you keep your tone upbeat while negotiating compensation and benefits.
You must request a higher starting salary if you want to receive one. Too frequently, job seekers take the first offer that is made to them. Employers, however, are keen to add team members with the particular skills and expertise that can benefit them best, regardless of how strong or unpredictable the economy may be. Your success in a salary negotiation depends on your preparation, tact, and confidence.
Article written by Simply Law