How to Negotiate a Salary Offer

As hiring has reached/exceeded levels, there’s a shortage of skilled professionals which ultimately increases competition for talent, driving up salaries.

It is unsurprising that many professionals are not that comfortable negotiating for more when their job search has ended, and they are placed with a job offer.

This article will provide five tips on how to negotiate a salary offer to assist with tactfully and confidently asking for what you want!

Research The Market

How to Negotiate a Salary Offer

Entering a salary negotiation with as much information as possible is crucial. Your first step to a successful outcome is to gather as much knowledge as possible on similar offers to the role you have applied for, start by browsing similar roles in the industry and reviewing what other studios are paying their employees.

You should also compare the qualifications and experience required for the positions to the role!

Also, it is important to understand the difference between Gross & Net salary. If you are moving countries, you should be aware of the differences in salary, tax and benefits.

If you are to be working remotely – freelance contract workers – you will usually be paid a net sum and required to do your taxes, etc. Understanding these costs when negotiating is important to consider!

From doing this amount of research, you can then understand the market average salary for the role which will assist you to negotiate a competitive salary. Set a salary range from this to the employer and if you are negotiating for the higher end of the range – you need to show that you are exceptionally qualified for the role and you’re bringing more to the table compared to other candidates.

For example, if you have specific qualifications or a specialized technical skill, this can greatly enhance your ability.

In your response, it is also vital to be honest when responding to the hiring manager in terms of seeking a higher offer, a falsified or overinflated salary will surely ruin your negotiation process!

Understand Your Value

How to Negotiate a Salary Offer

The next step in your negotiation process is to understand the value you have regarding the role and the company you have applied for!

For this, you need to know what you can offer an employer and how much you will be negotiating for will be determined by certain factors:

  • The amount of experience you have in the industry.
  • The amount of relevant experience you have in the role you have applied for or a similar role.
  • The amount of leadership experience you have.
  • Your level of education, training, and qualifications.

A candidate with three or more years of experience of working in the industry with a degree in the relevant field is better suited to ask for a higher salary, compared to an entry-level candidate with the relevant degree but no or little experience in the industry.

Depending on the amount of relevant experience you have gained within the industry as well as, advanced qualifications or skills you have, will be very useful to understand your employment level!

To reach a mutually beneficial salary negotiation, considering these factors will help you understand your value.

Practice/Prepare Your Pitch

How to Negotiate a Salary Offer

It is very important to have a precise plan of action and be prepared to justify your reasons for a salary negotiation with the potential employer!

You should organise your reasoning, justification, and evidence for your request into a cohesive pitch before presenting. You should also be ready to go into detail to why you should have a higher salary.

For example, if you brought about success within similar companies in your previous work, you can showcase it by providing data on why they were so successful or examples of projects you worked on to achieve success.

Having concrete examples of how your skills and experience will benefit your potential employer’s bottom line will make a solid enough case for why you should be paid more than your initial offer.

It is always a good idea to practice your pitch and running through your delivery several times, consider different scenarios, work-related expenses (travel supplies), outcomes, and questions from the employer!

Flexibility

How to Negotiate a Salary Offer

An employer would not withdraw their offer due to a request of negotiating an initial salary offer! However, having a prolonged negotiation process can frustrate both parties, leaving the relationship on a sour note.

It is important to be flexible during your negotiations and be willing to collaborate with your potential employer to reach a mutually beneficially outcome.

For example, you can be offered a different salary package with more holiday pay, convenient working hours, hybrid/remote working if they can’t seem to directly raise the offer to what you are expecting.

To be flexible in the salary negotiation, you need to first determine which options hold enough value for you, in terms of your preference in work/career, a remote option may be more beneficial in the long run if you truly consider your preferred circumstance.

Concluding Your Salary Negotiation

Depending on the outcome of your salary negotiation, if unsuccessful – you should not be afraid to walk away!

If your potential employer may not be able to offer a higher salary or the benefits in place of this is not enough, it is important to consider walking away if your needs are not met.

You should ensure all avenues are considered before walking away!

If successful – you and the hiring manager have agreed on a compensation package, you should ensure you have this in writing and signed by yourself and the employer. Most employers provide this as part of an employment contract, if this isn’t provided, request some type of documentation.

No matter the outcome, you should express gratitude for the employer’s time in the process!

It is also important to remember that, if you’d like a better salary offer, ask for it! Candidates are keen to accept the first number on their table and don’t seem to keep in mind that employers are willing to bring in candidates with specialized skills and experience that can help them the most.

There you have it! Our essential tips on how to negotiate a salary offer!

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