Congratulations you have a job interview! However, have you given much thought to negotiating your salary compensation package if you get a job offer? Are you honing your negotiation skills, in readiness for a job offer? Don’t fall down at the last hurdle by going into an interview ill-prepared. Instead read our blog post for tips on negotiating your salary and accepting a job offer.
There are many steps in the recruitment process: preparing a CV and folio, covering letters, applications forms, preparing for an interview, impressing at that interview and then negotiating your salary and accepting a job offer. This last part is often the most daunting: have I pitched it right? Could I have asked for more? Here is our guide to keep you on track when negotiating a job offer:
Do Your Homework
- What is the going rate for the position you are applying for?
- What is the minimum salary you are prepared to accept? Can you afford to work for this (factoring in your living, commuting and other work related expenses)?
- What is the salary range the company are offering – is it in the job description?
- Be realistic: can you really expect a senior designer’s salary when you have only just graduated?
- Understand exactly what the role requires: duties, responsibilities, targets etc.
Research the Potential Employer
- What size company are they? Are they likely to be able to afford a competitive wage?
- What is the going rate for the location the business works from? If the company is based out of major cities, the average wage will reflect this.
- What value will working for this employer give you on top of a salary? Prestige, opportunities, career advancement: what’s this worth to you?
Look at the Complete Compensation Package
Is the potential employer offering more than a flat salary? When negotiating your salary can you discuss additional benefits, especially to compensate for a salary that does not quite meet your expectations? Think about what would make the job more attractive to you, and what the potential employer can easily give. These could be:
- Help with commuting costs, or an interest-free loan to pay for your travel card.
- Company car and/or a parking space. This could dramatically reduce your outgoings.
- Training opportunities and a chance to improve on your qualifications and experience.
- Flexible working. A four day week or a work-from-home day.
- Holiday entitlement. Unpaid leave.
- Childcare and generous maternity/paternity leave.
- Healthcare and wellbeing: private medical insurance, gym membership.
- Bonuses, shares schemes and rewards.
The interview is your opportunity to convince a prospective employer that they cannot possibly hire anyone else but you. Use it sell yourself and the value you will add to the company. Ideally you do not want to discuss money until the interviewer is completely sold on you. But be prepared for negotiating your salary, as well as current and previous salaries, at any point during a job interview. It is important to include what your role and responsibilities were when divulging this information. This puts your salary in context with your skills and experience. If you are asking for more than the employer anticipated, you must be able to justify this by explaining what additional value you will bring to the role.
Accepting a job offer
Finally, if you have been negotiating your salary package and have settled on something agreeable to yourself and the potential employer and you wish to accept the job offer, do! Accept verbally and ask for a written offer detailing the package you have agreed to. This will most likely take the form of a written contract and possibly an Employees Handbook or similar. Read this carefully. Follow up with a formal, written acceptance that reiterates the main points of the offer: job title, responsibilities, salary and benefits. Also include your agreed starting date.
If you have been successful at negotiating your salary and accepting a job offer, congratulations. You may now like to read our post on How Not To Burn Bridges When Moving To A New Job. If you can add to our tips above with your experience please leave a comment below.