How to negotiate a better salary

Before you negotiate a better salary, you’ll want to make sure it is an appropriate time to do so. Is there an upcoming salary review? Been promoted? Have you achieved additional qualifications? Have the salaries in the market increased?

If any of these align with your current circumstances, here are some steps to help you negotiate a better salary.

Figure out how much you are worth

You’ll want to start by calculating how much you are worth. To do this, you’ll want to look at how many years of experience you have in the industry or similar roles. You’ll also want to look at your education or other qualifications. You’ll be able to negotiate a higher salary if you have relevant qualifications or a degree and experience over someone who is more entry-level.

Do your research

Look at the job market, what are other companies offering for similar roles? This will help you determine whether your salary is keeping up with the market. When looking at the job market to compare salaries, ensure these jobs match your experience and qualifications so you are getting an accurate picture of market averages. Some managers may not be aware they are paying below market averages and may be happy to increase your salary if they are made aware.

Prepare your reasons

Before you begin your negotiations, make sure you know why you’re asking for a better salary. Give examples of when you have gone above and beyond, met targets time-and-time again or how you have helped the company reach their goals. Going in with a plan will show employers that you know how much you benefit the organisation and why you deserve a better salary. Be confident in your approach and your achievements within the organisation.

 

Be flexible

Remember to be flexible. Negotiating a salary can be about compromise and looking at other aspects than just salary. Your employer might offer a slightly lower salary but with other benefits. Take everything into consideration when negotiating your salary. Decide whether other benefits are as important as money, for example, do they want to offer you a different salary but with flexi-time? This may give you more freedom with your working hours to spend time with friends and family or attend appointments. Work out what your priorities are.

 

Don’t be afraid to walk away

If your employer does not want to negotiate a better salary or give you one that meets your expectations, don’t be afraid to walk away. It can be hard to leave a job when you enjoy the role, but if it doesn’t meet your needs financially then it may be time to move on. If you have provided sufficient reasoning for a better salary and explored all other avenues, you need to do what is best for yourself and your future.

 

If this is the case, you can browse and apply for jobs on s1jobs and once you’ve got a job offer, you can read our blog on negotiating your next job offer!