Been offered the dream job but not the salary? Perhaps you have been in your position for some time but feel you are worth more. This page takes a look at good practice when attempting to negotiate a better deal.
If you have just been offered a new position you should be aware that most recruiters leave some room for negotiation when stating the salary. It is important to aim for more, not just for the good of your bank balance, but also because otherwise, your employer might not gain the best impression of you. At the same time however, if you make too extravagant a demand you might not get the job - it is a tricky process.
When figuring out how much to ask for don’t forget to ask yourself the following questions:
-How much do I need to make the job appealing/ worthwhile?
-Will I have any extra expenses as a result of changing jobs (relocation, transport, any benefits such as pensions)?
-Are these accounted for in the offer currently on the table?
-Am I due a pay rise or bonus in my present job?
-Could I swap some of the benefits (e.g. health, company car) on offer for increased salary?
-Am I expecting another job offer?
If you are unhappy with the salary on offer, it might well be worth sticking to your present job until a better offer comes along. Alternatively, if you are still waiting to hear about another position it is probably a good idea to tell the recruiter. There is a good chance he/she will be prompted into making a slightly larger offer – although it is not impossible that he/she might run out of patience.
Negotiating with your present employer
If you are feeling overlooked in terms of salary or benefits you should bring this up in any review or appraisal that you receive.
If you have agreed to regular reviews you should wait till the next one is due, unless there are exceptional circumstances (i.e. your workload has just trebled). If the review is overdue you should tell your employer/manager immediately.