NEGOTIATING YOUR SALARY
If only I knew what I know now! I am the worst liar, unfortunately for me, this has screwed me over in the past when a recruiter has asked in the final round of an interview what my current salary is! Remember a company is always trying to save costs and will pay you at the cheapest rate they think they can. What I am earning today has no relevance to what I should be earning for the new skill set and experience I have acquired. So how do we go about the negotiation?
- When the recruiter asks you what you are currently on don't make up a number or tell them (legally you don't have to). The best response, for example, is "for this current role and my experience I expect to be offered a range of 'X to X' does that sound on par with what you are offering?"
- Make sure you do your research on what the going salary is, you can look this up on Payscale or download the latest Hays Salary Guide. Plenty of job board sites will list salary brackets. One way to put people off hiring you is going in for a ridiculous salary range well above your experience or above the going industry rate. You could also ask someone you trust in the same industry or role what kind of salary range you should expect.
- Have a walk away price, in a negotiation always know the limit, if someone offers you $5k-$10k less but offers other perks like stock or healthcare maybe weigh that up. If an employer can't meet your ask you can always say something like "If I hit my KPI's in the next 6 months are you willing to look at offering me an additional $10k to match the industry benchmark?." Or, "would you be willing to do a performance review with me in 6 months time?"