Interquest Group provides 5 tips for negotiating a better salary:
1. Research salary surveys and understand average pay scales for your sector and company to have facts before negotiating.
2. Know your worth by researching demand for your skills, comparing yourself to peers' roles and qualifications, tenure, and achievements.
3. Encourage employers to provide feedback on your value and have a clear vision of how increased pay could enhance the value you provide.
4. If an offer is low, counter slightly higher and negotiate to find a satisfactory outcome for both parties where each feels they have given and gained ground.
5. Consider negotiating alternatives like bonuses, commissions, or scaled pay increases to find a compromise that encourages
2. 1 RESEARCH
INVESTIGATE RECENT SALARY SURVEYS FOR YOUR SECTOR.
UNDERSTAND THE NATIONAL AND LOCAL AVERAGE, AND
LEARN EVERYTHING YOU CAN ABOUT THE PAY SCALE OF
THE COMPANY YOU WORK FOR. IF POSSIBLE LOOK INTO THE
PAY SCALES OF YOUR COMPANY’S CLOSEST COMPETITORS
SO THAT YOU ARE COMPLETELY EQUIPPED WITH THE FACTS
BEFORE YOU START NEGOTIATING.
3. 2 KNOW YOUR
RESEARCH WHETHER YOUR SKILLS ARE IN
HIGH DEMAND WITHIN THE MARKETPLACE AND
WHETHER YOUR PEERS ARE PROGRESSING
TO MORE SENIOR ROLES WITH BETTER
PROSPECTS. DRAW COMPARISONS WITH YOUR
CONTEMPORARIES BASED ON SPECIFICS
RATHER THAN YOUR FEELING OF WHAT YOU
DESERVE. CONCENTRATE ON PROFESSIONAL
SKILLS OR QUALIFICATIONS, TENURE, NOTABLE
ACHIEVEMENTS AND VALUE ADDED.
WORTH
4. 3
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ENCOURAGE THE EMPLOYER TO OFFER
FEEDBACK ON THE VALUE OF YOUR ROLE
TO THE BUSINESS BEFORE YOU START. IF
ASKED FOR YOUR SALARY EXPECTATIONS,
STATE A RANGE BUT ALSO MAKE IT CLEAR
THAT IT IS OPEN FOR DISCUSSION. HAVE A
CLEAR VISION OF HOW THE VALUE YOU
ADD COULD BE ENHANCED WITH A
GREATER INCENTIVE AND BE STRAIGHT TO
THE POINT.
5. 4
T IN THE
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IF YOU KNOW THE OFFER IS LOW, COUNTER
WITH SOMETHING SLIGHTLY HIGHER THAN YOU
ULTIMATELY EXPECT, TO ENSURE THAT BOTH
PARTIES FEEL LIKE THEY HAVE GIVEN AND
GAINED SOME GROUND. A GOOD NEGOTIATION
SHOULD RESULT IN A SATISFACTORY AND
POSITIVE OUTCOME FOR ALL.
6. 5 BE CREATIVE
AN ALTERNATIVE SOLUTION COULD BE NEGOTIATING
THAT THE EMPLOYER MAKE UP THE SHORTFALL WITH
AGREED BONUSES, COMMISSIONS OR SCALED PAY
INCREASES. THIS KIND OF COMPROMISE ENCOURAGES A
SHARED AMBITION, WHICH IS HEALTHY FOR BOTH YOU
AND THE BUSINESS.
7. FOR MORE TIPS ON PROFESSIONAL DEVELOPMENT AND
TO SEE ALL OF OUR LATEST OPPORTUNITIES,
CONNECT WITH THE INTERQUEST GROUP
WWW.INTERQUESTGROUP.COM