5 Tips to Nail a Salary Negotiation
You have showcased an impressive C.V, navigated your way through the interview stages and celebrated receiving a job role. However, the hard work has only just begun as you approach the task of negotiating a salary. Discussing money can seem somewhat taboo in the UK as an air of awkwardness will inevitably ensure. The prospect of salary negotiation can fill interviewees with dread as the discussion can reflect that of a poker tournament rather than the boardroom. Here, the debt advisory service Scottish Trust Deed present their 5 need to know to negotiate the salary you deserve.
1. The past is irrelevant
Candidates can be unsure of the questions that will be asked throughout the interview process. However, ‘What is your current salary?’ is a question that is almost inevitable. When this question arises, it is important to remember that you are not duty-bound to disclose this. Some candidates fear that the answer will present the opportunity for the interviewer to move the goalposts in terms of the salary available which will mean you will obtain a salary falling short of what was previously designated for the role.
A new position often equates to new accountabilities and expertise that rely on the knowledge gained from previous experience. With this is mind, a salary should always reflect the needs of the role in hand and therefore, if your previous role is completely removed from your prospective one, it is completely irrelevant in terms of salary expectation. When asked ‘what is your expected salary’? it is wise to answer with a statement that runs along the lines of, ‘A salary that is a fair representation of the knowledge and experience needed for the required role.’
2. Well off the top of my head
Always have an idea of your salary expectation BEFORE stepping into the interview room. If you look like you have been caught off guard or that you are thinking on your feet then not only will you say something that you may regret, but it gives the impression that you will accept any proposal that is offered to you.
Research similar roles in the industry and establish an average salary. It is also wise to talk to a recruitment agency that is a specialist in your chosen industry. They will be able to provide some clarity and reality on what to expect.
3. So, this is awkward
Approach a salary negotiation pragmatically. Everyone steps onto the career ladder with the objective of receiving a rewarding salary and the interview is under no illusions with regards to this. Therefore, there is no reason to feel apprehensive when discussing your desired salary and the lack of awkwardness will project confidence.
4. Experience over salary
Sometimes, the experience is worth more than its weight in gold and it is important to see the bigger picture. If the salary is less than you were expecting but the experience and learnings offered are rare, then sometimes it is best to swallow your pride and accept the role.
5. Not just the money
Remember, it is not just a salary that can be negotiated. Work perks, bonuses, and annual leave are all things that can be negotiated. In terms of gaining a work-life balance and quality of life, these can play a bigger part in your day to day life and wellbeing than a salary.
About the author: Scottishtrustdeed.co.uk is a financial advice company specializing in debt advice for those who are struggling with their monthly debt repayments. Established in 2009, Scottishtrustdeed.co.uk’s aim was to help individuals who were in a black hole with their debts by negotiating with their creditors and bring them back to financial stability. It was originally owned by Simple Financial Solutions Limited before it was acquired by Paloma Digital Limited in 2015