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Salary Negotiation
By Myles Donnelly of Financial Jobs in London
Although the salary package isn't the only reason people move jobs, it's certainly an important one. So how do you get the best deal? * Don't state how much you are looking for on your covering letter or CV.
At this point you are potentially one of several candidates and you might be screened out on the basis of salary. Before you get an interview you are not in a strong salary negotiating position. * Try not to discuss pay at the first interview.
You are still potentially competing with a number of candidates. If asked, you might say something like 'As a leading firm that has a reputation for looking after its staff, I'm sure you pay the market rate'.
* Negotiate from a position of strength.
The time to negotiate your salary is when you have been offered the job. At this point you are in a strong negotiating position. The employer doesn't want to go through the recruitment process again as it costs time and money – and you probably don't, either! * Bear in mind what you think the employer would be prepared to pay.
Depending on the level of the position, there are probably associated salary bands which provide room for some salary negotiation. However, an employer is unlikely to exceed a salary band for any one individual.
* If you don't ask you won't get...
You will maximise what you'll get by demonstrating to your potential employer that you can make a significant contribution to their organisation throughout the application process. |
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May, 2012
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