For many of us, negotiating a starting salary can be one of the more intimidating aspects of the job seeking process. After all that interview prep, nerves, and waiting for the final call, some people worry that asking for higher compensation will scupper their chances at the last minute.
Although it’s only natural to find conversations about money a little awkward, negotiation is something employers expect. Around half of us choose to ask for more money than we’re originally offered during the hiring process, with others opting to request additional benefits such as higher pension contributions or holiday allowance. In fact, choosing to negotiate can actually make a positive impression on your new employer, as it shows that you’re undaunted by difficult conversations, and demonstrates your confidence and ability to advocate for yourself. In order to negotiate your salary effectively though, you don’t want to just pick a number out of thin air and hope for the best; you’ll need to approach the process strategically and with careful consideration.
Salary Negotiation 101: Strategies For Success
Arm yourself with information
In the battle to receive the salary you deserve, information is always going to be your strongest ally. This means you’ll first need to do some research on how much other employers are paying in comparable roles. You should find plenty of resources to help, such as sites like Glassdoor, or salary surveys for your sector. If you’re working with a recruiter, they’ll also be able to provide information as to the typical salary for someone with your skillset and experience. While you’re researching, there are a few factors you’ll need to bear in mind:
Experience level
Many roles will offer higher pay depending on how much experience a candidate has, so be sure to benchmark your request against roles that require a similar level to your own.
Location
Roles within London, for example, will typically pay significantly more, along with other large UK cities.
Startup Vs corporate
The former will often offer a lower starting salary, sometimes in exchange for other benefits such as performance-related bonuses or the chance to earn equity.
Doing this research will ensure you enter negotiations understanding your worth, and that you won’t be requesting a figure that’s unrealistic.
Consider the whole package
Remember, salary isn’t the be all and end all, so take the time to consider what really matters to you. For example, maybe you’re one of the many jobseekers who consider flexible working a more important factor in deciding whether to accept a role than salary. If you’re applying for a position that’s remote or hybrid, it’s worth thinking about the money you’ll save on things like food and petrol, which could actually leave you better off over the course of a year than an extra thousand pounds in your pay packet.
Alternatively, you might highly value other perks such as a company car or free gym membership, or less tangible benefits like learning and development opportunities. Take a holistic view of the job offer, and bear in mind that if an employer won’t negotiate on salary, they might be willing to negotiate other benefits that could be just as valuable.
Know your worth – and be prepared to prove it
Many people wonder how to negotiate a starting salary when given a range, for example, between 40-50k. In this case, it’ll be up to you to prove that your skills, experience and potential are worthy of a higher level of compensation. It’s almost unheard of that an employer would offer the 50k salary right off the bat – they’ll likely come in with a mid-level offer and be prepared for you to negotiate. This will be your cue to emphasise your qualifications, accomplishments, and the value you can bring to the company. Highlight specific examples of your past achievements, and how you can use your skills to directly benefit the company.
Try to be flexible, especially if it’s a role you’d really like. Even if an employer isn’t willing to offer a higher salary right now, they might still be willing to layout a framework in which your pay will increase a few months down the line if you meet certain goals and targets.
Be reasonable, and use your judgement
Although you shouldn’t worry about irritating your potential new employer or losing a job offer by negotiating a higher salary, it's crucial to strike a balance and be reasonable in your requests. Remember that while employers expect some negotiation, being excessively demanding can create a negative impression. Use your judgment to assess the company's financial health and the industry's standards, as well as your own qualifications and the demand for your skills. Ultimately, the goal is to secure a fair and competitive compensation package that reflects your value while also demonstrating your professionalism and flexibility in the negotiation process.
What if I receive a counteroffer from my current employer?
If you’re a valued employee, you may well receive a counteroffer from your current place of work to entice you to stay. This is something you can mention to your potential new employer during negotiations, but be sure to manage the situation tactfully - don't use the counteroffer as a bargaining chip to play both sides against each other. Instead, focus on your career goals and what's best for your professional development.
What if the job advert simply states ‘competitive salary’? When should I bring it up?
This will depend on how you’re tackling your job search. If you’re working with a recruiter, they’ll almost certainly be able to give you a general idea of the salary range you could expect to be offered if you land the role. If you’re applying directly to an employer, most will ask about your salary expectations during the shortlisting process. If not, it’s better to wait until you’ve developed a rapport and have had a chance to impress them, such as at the end of your initial interview. Although many people worry about it, it’s totally reasonable to ask about salary during a job interview, as long as it’s done in a tactful way that further emphasises your enthusiasm for the role.
Quick tips for salary negotiation
- Stay positive and professional. Don’t make demands or ultimatums; instead, express your desires and reasoning.
- Aim high, but be realistic. Start your negotiation with a slightly higher figure than your target salary to give room for concessions.
- Know your bottom line. Determine the lowest salary that you would be willing to accept, and be prepared to gracefully decline the offer if it doesn't meet your minimum requirements.
- Listen actively. Pay attention to the employer's response and be open to their perspective. Be ready to ask questions to gain a better understanding of their position.
- Follow up in writing. Document the agreed-upon terms through an email to avoid misunderstandings later.
- Work with a recruiter experienced within your sector. They can be your strongest asset in helping you get the salary you deserve, as they can directly advocate on your behalf to your potential employer, and help you decide on a figure that’s achievable and realistic through their knowledge of the employment landscape.
Ultimately, in the world of job-seeking, you often don’t get what you deserve – you get what you negotiate. Instead of accepting the first offer that’s on the table, do your homework to ensure you understand your worth, know what’s fair and reasonable, and can advocate for yourself with tact and confidence. It might be intimidating, but you’ll enjoy your new role all the more if you feel you’re being compensated fairly, and feel empowered knowing that you’re the architect of your own success.
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