Posted on August 2015 By Speller International
Whether you’re new to job-hunting or a seasoned pro, salary negotiation can be quite intimidating. Here are some tips to help you avoid negotiation landmines and get that job offer you deserve.
Do your research
It pays to know what you’re worth. Find out where the market sits in your skillset. If you believe you should be paid more, ensure your expectations are realistic and justifiable. Think about how you can add value to the company, rather than where you see the market is going.
Think about what you want
Consider your absolute minimum and maximum salary expectations, as well as non-monetary benefits. Work towards a win-win situation so both you and your potential employer are happy.
When you put forward an amount, justify the number but be ready to negotiate. Go in too hard and you may seem demanding, even if it was unintentional. However, don’t confuse ‘too hard’ with ‘high balling’. Start on the higher end of your expectations and work it from there.
Take it slow
While the negotiation is taking place, don’t be afraid to pause and think. If you feel pressured, slow it down and say “let me think about this for 10 minutes and get back to you”. This gives you time to do your numbers with a clear mind.
Be prepared to walk away
If the negotiation does not meet your minimum expectations, don’t be afraid to say no. When you decline an offer, you must really be willing to let it go. Don’t use this tactic to call their bluff or you may end up disappointed.
Leave on a good note
If both sides can’t agree on the salary, it’s nothing personal. So stay respectful, say thank you and leave a good impression. Remember not to burn any bridges.
Negotiating new contracts
It may be tempting to undervalue yourself to get a contract, know the value of your skillset and be strong but flexible. Support and project positions have different pay scales, so know when to adjust your expectations. For interstate contracts, check if flights, accommodation and related expenses are covered before adding those extra dollars.
Extending a contract for more money
If there is potential for an extension, flag your intention to review your daily rate with your recruiter. An increase will impact the budget of your project and needs to be discussed with the company as soon as possible.
Negotiating a permanent position
Most advertised jobs show a pay range that includes superannuation. Be clear on whether your annual salary includes or excludes the super. It makes quite a substantial difference.
It’s not all about the money, money, money
If a company can’t pay the salary you’re after, it may be able to offer extra benefits to make it worth your while. Understand your full package entitlements to see if they include salary sacrificing, personal development courses, flexible hours or extra vacation days, and negotiate those terms.
Reviewing your salary
If you are a permanent employee hoping to negotiate a higher salary, justify why you deserve more. Give good reasons, such as additional responsibilities, extra workload, or longer hours, and examples of your recent achievements. Avoid comparing your salary with someone else’s. It’s really about you and the work you do.
The worst mistake that anyone can make is to not negotiate their salary, out of fear or lack of confidence. The key is to be prepared before negotiating, and rehearse what you want to say in your mind. Relax, use active language and show enthusiasm. A positive mindset goes a long way. Happy negotiating!