How to Negotiate Salary and Beneﬁts
Negotiating salary and beneﬁts with a company is an important part of the job offer process. Here are some steps and strategies to help you negotiate effectively:
Research and Preparation:
Before the negotiation:
Research the industry standards salary ranges for similar positions company’s ﬁnancial health
Determine your own market value by considering:
- Your skills, experience, education
- The value you can bring to the company.
- Identify your priorities regarding salary, beneﬁts, and other perks.
Wait for the right time to discuss salary and beneﬁts. Ideally, this conversation should take place after you have received a job offer or during a designated negotiation phase.
If the employer initiates the salary discussion earlier, you can provide a broad range or indicate that you would like to discuss it further once you have more information about the role.
Focus on Value:
During the negotiation, emphasise the value you can bring to the company and how your skills and experience align with their needs
Highlight your accomplishments and demonstrate how they can contribute to the company’s success.
Be Realistic and Flexible:
Set a target salary range based on your research but be willing to be ﬂexible within that range. Use ESP Salary Survey 2023 to see the IT salary range from similar organisations and locations.
Express Conﬁdence and Professionalism:
Maintain a positive and conﬁdent attitude throughout the negotiation process.
Clearly communicate your expectations, but avoid being confrontational or aggressive.
Use professional language and tone, and support your requests with logical arguments and evidence.
Let the Employer Make the First Offer:
If possible, let the employer provide the initial salary offer. This allows you to gauge their expectations and negotiate from there.
If they ask for your salary expectations ﬁrst, provide a range rather than a speciﬁc number to maintain ﬂexibility.
Negotiate in Person or Over the Phone:
Whenever possible, negotiate face-to-face or over the phone. It allows for better communication and helps build rapport.
Written communication, such as email, may lack the nuances of a conversation.
Consider Non-Financial Beneﬁts:
Consider the entire compensation package, rather than just focusing on salary alone.
If the employer is unable to meet your salary expectations, explore alternative beneﬁts that may be negotiable:
- Beneﬁts, Bonuses, Stock Options, Holiday Time, Term time vs Full time
- Flexible working arrangements or Professional development opportunities
Maintain Professional Relationships:
Remember that negotiations are a collaborative process, not a confrontation.
Even if the offer falls short of your expectations, remain professional and courteous. You want to build a positive relationship with the employer, regardless of the outcome.
Evaluate the Full Offer:
Once the negotiation is complete and an offer is made, evaluate the complete compensation package and consider the overall value it provides before making a ﬁnal decision.
Remember, negotiation is a skill that improves with practice. Be prepared, conﬁdent, and open to ﬁnding a mutually beneﬁcial agreement.