One of 14 careers-based articles I wrote in a 24-hour article-a-thon for this major recruitment site.
Well done. You changed jobs. You negotiated the three-stage interview process, the raft-building, the psychometric tests and all the other hoops they put in front of you. But, whilst you might have convinced your new employer you joined them for the career challenge, the training opportunities and the nifty view from the canteen window, deep down you had other motives. Yes, the M word. Money. Because changing jobs can be a very good opportunity to improve your lot financially.
If your new job is a salary-banded one in the public sector or comes with a fixed amount of dough, look away now. The rest of you can start salivating. Because this is the bit where we tell you how to get the money you want and deserve.
So, let’s look at the factors that will affect the process and see if we can’t get you down to the Jaguar showroom sometime soon.
Hey, jobs these days aren’t just a salary, right? Are you getting a set of wheels, pension, commission or luncheon vouchers? This is the package and, if it’s a good one, there may not be much room for negotiation. Weigh it all up and don’t look like a twerp by asking for big wonga that just isn’t there.
Ensure your new employer recognises just how vital your contribution will be to his company. You’ve done this at interview stage, but it’s key to remind him when it gets to the sharp end of proceedings. Accept a salary offer and things won’t look up much from there unless you get promoted.
Do your homework. If your colleagues in similar roles are rolling around the floor in giggles at your salary offer, that probably means you should be asking for more. You can also check out salaries at recruitment firms, from job ads in the paper and from salary surveys online. You should also find out if people with your skills are ten-a-penny or if employers are likely to fight to the death over you.
Experts say you should never be the first to mention a figure. Obviously, this can result in a stand-off to rival the Alamo, but you should be strong. And vague. Use phrases like 'A package in the area of…' Don’t sell yourself short. If you have to mention a figure, shoot high. If you want £35k, start at £40k. If they come up with a figure first, ask yourself if it’s reasonable. It is? Great. Now start looking at the rest of the package.
If your initial reaction to their opening offer was to lie down in a darkened room, resist the urge to belly-laugh. Instead, you could say, "I don’t think that salary is very competitive". If you’re feeling brave, you might even try, “Is that really the best you can do?”
Unless the employer has skin like a rhino, he should get the message that his offer needs to head northwards, sharpish. In the case of other benefits that he’s offered as makeweights, such as company cars and share options, be aware that these might not be permanent - they could be based on performance or on how well the economy is doing. Factor this in to your negotiations.
Be brave. You can turn down an offer. Doing this will give you a huge ego boost and will give you the mental strength of David Blaine’s more-serene twin. Never get suckered into accepting an underpaying job with a title like ‘Vice-President, Global Sales’, or that offers promotion opportunities. Get paid what you’re worth. Now.
t: Nigel,
+44 (0)1772 435827
m: 07527 954394
e: nigel@mightier-than.com