Understanding your market value and knowing how much you deserve to earn is essential when approaching your dream job. Salary negotiation is a strategic process that requires preparation, research, and confidence. Before stepping into any interview room, carefully assess your salary expectations and be ready to present a compelling case to your prospective employer. Here are five key tips to consider when negotiating salary during an interview.
Table of Contents
1. Understand Your Value
In salary negotiations, first consider how valuable you are to achieving the organisation’s strategic goals. If your role is declared redundant, can the organisation function effectively? Knowing your value to the company goes far beyond the position you are applying for. A ‘‘Corporate Communications Manager’’ with 10 years of working experience, a banking background, and proficiency in graphic designing, website designing and social media management and fluent in both English and French, is obviously worth more than a “Corporate Communications Manager” with just 15 years of working experience but does not possess the above qualities. Your value is in all the skills you have developed over time, and not just knowing your skills, but knowing how to use them. This is why you must evaluate how that will be useful in your current role.
2. Gather Your Facts
It is standard practice for employers to ask about your salary expectations in making hiring decisions. So, when negotiating for a salary during an interview, you need to arm yourself with precise salary estimates for the job, and you can start by talking to industry professionals. Good news: there is now an effective salary insight tool to help you with your salary research and decision-making. This first-ever salary insight tool from Jobberman will help you quote a more appropriate figure that reflects both your value and experience. A good way to leave a lasting impression on your panel is to back up your salary request with facts. This not only increases your chances but also shows you have prepared extensively.
3. Project Higher than You Earned Previously
Don’t be quick to call out any figure without considering your previous salary. Once on a job hunt for a new job, you must aim to earn more than you did in your old job. Some people make the mistake of settling for the unsatisfying salary they once earned or the one they are offered, without negotiating for more. No matter what, you must prove how much you are worth. If you ever responded to the question ” What’s your salary expectation with ‘whatever you give me”, that is a wrong response. Salary negotiation decisions must be informed by your value to the company and the intelligence you’ve gathered from your research.
4. Think Beyond Just Base Salary
Salary negotiation is a numbers game, but be ready to negotiate beyond just a base salary. There are certain benefits you should consider requesting, in addition to the baseline salary. For instance, you could request extra medical, clothing, fuel and research allowance. The question here is what is really important to you in a job, beyond a monthly salary?
5. Negotiate Confidently
Salary negotiation requires you to exude confidence. Once you know what you bring to the table and what you are looking for, let your confidence shine through. What you should know is that exuding confidence throughout the interview process is vital to attaining a favourable take-home pay. Refrain from excessive or frantic body language, and maintain very good eye contact without staring. Remember, speak with boldness but not boastfully. The idea is to sound confident and professional at the same time.
While there’s no guarantee you’ll secure your highest desired salary, making a strong, well-reasoned case maximises your chances. Effective salary negotiation is a vital skill for career advancement; don’t leave money on the table by failing to advocate for yourself.
When should I bring up salary during an interview?
Ideally, wait until the employer brings up compensation or until later stages of the interview process. This shows your primary interest is in the role and organisation, though you should always be prepared to discuss salary expectations if asked.
How do I answer the question about my current salary?
Be honest, but also focus on the value you bring to the new role. If your current salary is below industry standards, explain how your skills and market research support your desired compensation.
What if the offer falls short of my expectations?
Politely express appreciation for the offer, then present your research and reasoning for a higher figure. Be specific about your skills and the market rate, and remain open to negotiation on benefits or other forms of compensation.
How do I know whether my salary expectations are realistic?
Use industry benchmarks, Jobberman’s AI career tool, and insights from professionals in your field to inform your expectations. Aim for a figure that matches your experience, skills, and the role’s requirements.
