How to negotiate your salary when you get a new job offer

05 July 2023

How to negotiate your salary when you get a new job offer

The thought of this conversation may make you feel anxious but much like with the interview process, preparation is key:

Do your research and know your worth

Get on Google and read up on the average salary for similar roles in terms of industry, location, and seniority. Glassdoor, Salary.com, and LinkedIn Salary Insights provide valuable salary data, you will just need to factor in any qualifications, the current demand for your skills, and the company’s financial situation.

With this information, you should be able to establish a reasonable salary range that fits with your experience and the competition you’re up against.

Focus on your value

During salary negotiations, it’s important to keep in mind your personal and professional achievements, your skills, and your qualifications. These make you an asset to your future team and to the business. Don’t let impostor syndrome trick you into thinking you’re not worth a good salary. Make a good case, keep your cool, and confidently explain the thinking behind why you deserve the salary you’re asking for.

Be flexible and factor in the whole package

Salary will be the main compensation for your new role but there will also be other benefits to consider. In some companies there may be limitations on salary but the option for additional perks like flexible hours, remote work, training fir qualifications, a generous amount of vacation days, or salary packaging with a tax free threshold.

Be open to considering the impact of these benefits, especially on your work-life balance, because although they’re not salary they can make your overall compensation package much more attractive.

Communicate effectively

If you prefer talking on the phone over writing an email go ahead and arrange a call. If you prefer to see who you’re talking to then it’d fine to request a video call too.
If you’re negotiating in a spoken conversation slow the pace down by really listening to the employer’s perspective.
If you’re negotiating by email triple check what you’ve written and get a friend to read what you’ve written if you can, checking for spelling, how clearly you’ve explained what you’re saying, and tone.
Always avoid confrontational language or making demands and be open to finding a mutually beneficial solution as now that you’ve been offered the job this is clearly what you both want.

Have a bottom Line – and a plan B

Knowing your bottom line means knowing the minimum salary you’d be willing to accept. This figure should be based on a blend of your research and your realistic financial needs. If the employer is unable to match this, consider the benefits and try to calculate how this bumps the salary up.

At some point though, if the employer can’t meet your expectations, you may need to respectfully decline the offer, and continue your job search (with a newfound confidence in yourself).

Negotiating your salary is an important step in establishing your worth and setting the foundation for your financial future. Get it right and you end up with a salary that accurately reflects your skills and experience and allows you to live a full life outside of work. Preparation, confidence, a professional approach, and remembering that salary negotiations are a two-way conversation will help you to navigate the process successfully and land on a figure that works for both you and your new employer.

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